Tag Archives: mortgage

Employment Data Headlines Were Wrong for January, But Bleak Employment Situation Remains

Yes, we know that the nonfarm payrolls headline number for January was wrong, but those who concluded that job growth is weak are correct. It just was not as weak in January as they thought. Continue reading

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Growing Pains

FLASH- Fed to taper another $10 billion. Maybe they are concerned about all the interest income they are removing from the economy? 😉 Continue reading

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Did Securitization Lead to Riskier Corporate Lending?

by Joao Santos, Federal Reserve Bank of New York There’s ample evidence that securitization led mortgage lenders to take more risk, thereby contributing to a large increase in mortgage delinquencies during the financial crisis. In this post, I discuss evidence … Continue reading

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Consumer Contraction Continues to Slow

We are becoming more convinced with each passing week that the rate of contraction of on-line consumer demand for discretionary durable goods “bottomed” at the end of May 2011. The climb in the year-over-year contraction rate curve (decrease in the … Continue reading

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Explaining the Housing Bubble

In the simplest terms, the housing bubble was caused by a flood of liquidity chasing mispriced risk. Continue reading

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