This chart says it all - from Econbrowser - Peter Hooper on the economic outlook - thanks to Victor Hong for pointing this out 

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Apartment Landlords Offering Significant Incentives in Manhattan - CalculatedRisk 

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Saudis press United States to put an end to rate cuts - Saudis press United States to put an end to rate cuts - … So Paulson decided to go to Riyadh late last month to soothe some ruffled royal feathers. Reliable sources say that the Saudis “hinted, as is their style” that if America wants more oil, it should do something to shore up the dollar. Not unreasonable: the falling dollar reduces the purchasing power of the bits of paper the world uses to pay for oil. -  Irwin Stelzer  - Times Online 

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As Bill Evolves, Mortgage Debt Is Snowballing - VIKAS BAJAJ -  NY Times 

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Fed Board Nominee Duke Gets Confirmed by U.S. Senate -  Scott Lanman -  Bloomberg

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Well, what do you expect? - Despite rising inflation expectations the Fed keeps rates on hold - Economist print edition

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Connecticut: Even Richer Areas Feel the Pinch - LISA PREVOST - NY Times

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A housing-rescue bubble - Congress risks the same mistake – giving home loans assuming prices are going up. - CS Monitor

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Economics Professor Says Bank Of America Cuts Won’t Be In Charlotte -

WSOCtv.com  

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Three Million US Mortgages Headed for Default, NYT Reports - Dan Hart - Bloomberg 

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Financial Freedom Issues Three Reverse Mortgage Securities Under New Ginnie Mae Program - Government National Mortgage Association (Ginnie Mae) announced last Friday that Financial Freedom, issued two fixed rate reverse mortgage transactions and one LIBOR transaction under Ginnie Mae’s Home Equity Conversion Mortgage (HECM) Mortgage-Backed Securities (HMBS) program.  - Reverse Mortgage Daily 

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US Credit Card Asset Quality Deterioration Hasn’t Peaked - Meghan Crowe - … In this Fitch Special Report released last week: ‘Credit Cards: Asset Quality Review’, Fitch discusses current asset quality trends in the credit card market and provides updated growth and asset quality statistics for some of the largest credit card issuers.  … - riskcenter.com 

posted by Bill Coppedge