As politicians all over the world wonder how the hell they are going to get out of the mire that surrounds them, we are beginning to see options taken that are provoking a great deal of debate. The latest is the US’s Operation Twist.
First tried back in 1961 as an “experiment” whose results are still disputed, this involves the Fed selling short-term bonds and, here’s the twist, replacing them with longer term ones. The result is that as more long-term bonds are purchased interest rates should fall, (it’s a supply and demand thing, sort of).
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Just when you thought it was safe to go back in the financial markets…!
The news headlines are screaming from this morning papers that all is not well, traders are pictured with head-in-hands alongside graphs dropping off a cliff and Mr Peston is everywhere again – sounds like a preview of Credit Crunch 2 – Revenge of the Markets?
Looking back at the blog postings that were written during the heady days of the 1st crises there are many similarities. Back then the speculation went from bank to bank until the pressure became too much and one by one banks were rescued. There was then a brief lull, some began to believe we were out of the woods and then there was Lehman’s.
Also posted in Best Mortgage Rates, Coreco, Credit Crunch, Economic Recovery, European Union, House Prices, Mortgage Blog, Mortgage Finance, Mortgage Market, The Economy | Tagged Best Mortgage Rates, Coreco, Credit Crunch, Economy, European Union, Large Mortgage Loans, Mortgage Lending, Mortgage Market, Property Market, Property Prices, The Economy |
It used to be the case that a week was a long time in politics, but now, after the much anticipated Leaders debate last night delivered a surprisingly enticing slice of political drama, 90 minutes can be an entire career.
Enter stage left one Nick Clegg. Making a mockery of Tory claims that Vince Cable had an advantage from the centre position, he took his chance with both hands and delivered a positively authoritative performance which threw the election wide open.
Andrew Montlake, Communications Director at Coreco and ‘Mortgage Personality of the Year 2008’, gives his views — honest and no holds barred — on the latest developments within the mortgage and property markets.
