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The real story here, I think, is not about banks at all; rather, it’s about the government, which is desperately trying to extricate itself from its current position as the ultimate source of just about all mortgage finance. In the absence of a formal plan of how to do this, it’s trying a market-based approach: make mortgages expensive, and maybe the banks will take the hint and start offering private-label mortgages at lower, more competitive rates. As Timiraos says, part of the reason mortgage rates are so high is the fees that Fannie and Freddie are slapping on to every loan they buy from lenders.
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"The market is definitely less concerned about tapering. Thetapering is not being viewed as negatively as it was in therecent past," said Alvise Marino, currency strategist at CreditSuisse in New York.
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The market for wearable exercise devices is now a $1 billionbusiness and is expected to grow 24 percent with 94 milliondevices sold by 2018, according to Adarsh Krishnan, senioranalyst at New York-based market intelligence firm ABI Research.
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The record date determines which Dell shareholders are entitled to vote on the deal. A second person familiar with the matter said the special committee would be willing to push the record date to August 10 for the vote to be held on September 10.