Tuesday, June 21, 2011

Quick Overview

  • Bank JPMorgan charged with misleading investors in mortgage-related security, settles SEC charges for $153m


  • U.S Existing Home Sales fell by 3.8% in May, at an annual pace of 4.81 million, down 15.3% from last year’s mark of 5.68 million by the same point in the year.
  • The National Average Commitment Rate to a 30 year fixed rate was 4.64%
  • The national median home price was $166,500, down over 4.6% YoY
  • Total housing inventory at the end of May fell 1% to 3.72 million existing homes for sale
  • Distressed homes accounted for 31% of all sales in the month of May, a 6% drop off from last month, and sold at an average of 20% below the median price.


  • Corn / Beans turnaround Tuesday is linked to hot and dry US Midwest forecast late next week & uncertainty over what USDA will say June 30 about US 2011 acres.


  • (FT) Greek citizens are emptying savings accounts and buying gold.


  • Swift Beef Co. agreed to pay a $1.3 million fine to settle allegations the company violated the federal Clean Water Act by dumping pollutants into rivers near its Grand Island, Neb., processing plant.

  • A continuing probe by the Associated Press finds tritium (a radioactive form of hydrogen) has leaked from nearly three-quarters of U.S. nuclear power facilities, including two in New Jersey.

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