Archive for July 20th, 2010

Mortgage Modification Program Nearly Grinds to a Halt in June

| July 20, 2010

The Treasury reported that only 15,000 HAMP trial modifications were initiated in June, and the uptrend from early 2009 has all but flatlined. It was also reported that the number of active trials decreased from 467,672 to 364,077, a massive decline of 22%. Program momentum continues to wane as the qualification process becomes more restrictive, […]

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Housing Starts Head Lower

| July 20, 2010

The Census Bureau reported that housing starts declined 5% to 549,000 in June from 578,000 in May. The tepid bounce off of the bottom in early 2009 may now be in the process of reversing and heading back down to those long-term lows as shown on the following chart from Calculated Risk. It is likely […]

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Short-term Forecast for July 20, 2010

| July 20, 2010

Stock Daily Chart Analyses The following daily chart analyses provide short-term forecasts for the stock markets that we monitor. For intermediate-term outlooks see the latest weekly review, and for long-term outlooks see the big picture update. The S&P 500 Index Synopsis: The S&P 500 index closed sharply higher today, moving up toward resistance at the […]

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