Mortgage Banking

Making sense of commercial real estate finance.

A Few Economic Notes

Posted by Jordan Crouch on January 14, 2008

  • After flirting with bankruptcy several times last week, Countrywide was bailed out by Bank of America. The planned $4 Billion purchase by BofA follows a $2 Billion cash infusion made by BofA last year.
  • WaMu, also suffering from sub-prime losses, is rumored to be a takeover target by JP Morgan.
  • There is growing concern about an economic recession in the US and what effect a full-blown recession will have on the world economy.
  • The commercial real estate market has not seen the drastic slowdown that the residential market has, but some prognosticators are expecting a similar situation in the commercial real estate to occur in the next 12 months. Will this happen? Time will tell.
  • The Federal Reserve will meet later this month and is expected to lower interest rates again.
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