Items Tagged with 'Economic Stimulus Act'

ARTICLES

  • Bailout Update: Fed Balance Sheet Reaches $2 Trillion

    The U.S. Federal Reserve's balance sheet expanded to a record high this week, after continued efforts to shore up the financial system through large cash infusions helped push $2.058 trillion onto the Fed's book through Nov. 5, compared to the $1.953 trillion on the Fed's books one week earlier. The data came from an update on reserve balances on Thursday afternoon. See the data.
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  • 2009 Conforming Loan Limits Unchanged, FHFA Says

    The conforming loan limit -- the maximum size of loans that can be purchased by Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] -- will remain at $417,000 during 2009, the Federal Housing Finance Agency announced Friday. Some designated high-cost areas, however, will continue to see specified higher limits equal to 115 percent of local median home prices (but cannot exceed 150 percent of the standard limit of $625,000 for single-unit homes).
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  • For New Homes, No Spring Selling Boost

    The traditional spring selling boost that home builders were counting on to prop up sagging demand never materialized, likely signaling further pain ahead in the U.S housing market in the months to come. The Commerce Dept. reported Wednesday that new home purchase activity fell to a 512,000 annualized pace during May, off 2.5 percent from a revised 525,000 rate in April; the monthly sales number was the worst May sales total since 1991, when the U.S.
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  • FHA Reform Dropped from House Economic Stimulus Plan

    As the House readies a vote on a $146 billion economic aid plan today, one key piece of mortgage legislation has been dropped under pressure from Bush administration officials. The Associated Press reported Tuesday morning that House lawmakers had removed FHA reform provisions from the proposed stimulus package, although a temporary increase in FHA lending limits will remain.
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