MEDIA • Martha Stewart’s arm was lost, but then it was found. [Gawker] • NBC, CBS, and PSB will be moderating the three presidential debates between John McCain and Barack Obama. ABC is conspicuously missing from that list. Did it get the shaft because of the poor reaction to the network’s April debate between Obama and Hillary Clinton? [Mixed Media/Portfolio] • Bob Pittman, who paid $2 million for a controlling stake in Daily Candy back in 2003, just cashed out by selling the e-letter to Comcast for about $125 million. That’s a $123 million return on his investment. [NYT] • Activist investor Carl Icahn hired a Reuters reporter to blog for him. [DealBook/NYT] FINANCE NYP]U.S. Treasury has hired Morgan Stanley for $95,000 to advise them on the futures of Freddie Mac and Fannie Mae. [NYT, DealBook/NYT]DealBook/NYT] … [Read more...] about If Martha Stewart Had Only One Arm, How Would She Garden and Decoupage?
"Mortgage credit supply fell to its lowest level since March 2014, driven by a reduction in supply from both conventional and government segments of the market," Joel Kan, an MBA economist, said in a statement. "Credit continues to tighten because of uncertainty still looming around the health of the job market, even as other data on loan applications and home sales show a sharp rebound. A further reduction in loan programs with low credit scores, high [loan-to-value] and reduced documentation requirements also continued to drive the overall decline in credit availability." … [Read more...] about Fixed mortgage rates tumble to lowest levels in history
The question is if the housing boom can continue amid the economic fallout from the pandemic. Some potential buyers, eager to take advantage of low rates, might not get approved for loans, while higher prices are exacerbating the shortage of affordable housing. … [Read more...] about Mortgage rates slide to record-low 2.86% for 30-year loans
The double whammy of the coronavirus pandemic and the economic downturn have led to the lowest mortgage rates in history. They fell to an average of just 2.86% for the most common types of loan, the 30-year fixed-rate mortgage, in the week ending Sept. 10, according to Freddie Mac. The previous low was 2.88% for the week ending Aug. 6. … [Read more...] about Mortgage Rates Tumble to Yet Another All-Time Low
About half of households can afford the national median–priced home, but that number shrinks dramatically in the big cities, according an analysis from Meyers Research, a national real estate consultancy. Just 17% of Los Angeles–area residents earning local wages can afford to become homeowners in that metropolitan area, where the median price is just shy of $1 million. Only about a third of San Francisco– and New York–area residents can afford to buy in their respective metros. … [Read more...] about First-Time Buyers, Beware: Homeownership Is Becoming a Tale of the Haves and Have-Nots