Monday, August 13, 2007

Widespread Mortgage Problems

ECB President Jean-Claude Trichet Watching Financial Markets

In response to a squeeze on liquidity resulting from deteriorating conditions in credit markets, the ECB injected a record 95 billion € into the eurozone money markets on August 9, followed by another 61 bln €, the next day. »»

Wall Street is beside itself because of concerns over whether subprime mortgage-related losses are causing banks and other lenders to tighten up credit and whether the market for mortgage-backed securities has dried up. The uncertainty comes in part from the fact that no one really knows yet just how widespread mortgage problems are, and therefore how long it will take for credit market conditions to ease. »»

1 comment:

haplif - Frank Kalder said...

e-glob, Washington (DC), commented on August 15:
“Very needed. I am worried about my mortgage, so I appreciated it.”