Obama Loan Modification - From 1 to 500,000 Mortgage Modifications

The Obama Loan Modification program known as the making home affordable plan has been a success! Mortgage Lenders finally got the hint from President Obama and his administration, They are now clearly headed in the right direction and offering Homeowner Hope to those in financial distress.


Large lending institutions such as Saxon, Bank of America, Wells Fargo, and many others have really cam through this last month or so and have done their part in America's collective effort to Make Home Affordable by restructuring Home Mortgage loans under the Obama specified guide lines. In fact the mortgage lenders have even one upped Obama by completing the goal of 500,000 loan modifications by November 1st. They completed this feat with ease and plenty of time to spare as of early this month on October 6th.

Australia Interest Rates Increased - Stock Market Soars

Australia raised their interest rates or rather the cost to borrow money. Investors took this as a sign of hope and the stock market rallied on the news release of Australia's interest rate hike.

Why does the Interest Rate Increase Executed by the Reserve Bank of Australia Boost Investor Confidence and Hopes of Recovery?

If the derived confidence from this seemingly rise in cost to do business in the world of borrowing money seems a bit bizarre or counter intuitive you are correct. Under traditional market circumstances the rise in interest rates which directly correlates or even directly causes the cost of borrowing to increase. But even so, we are not operating under normal market conditions.

Investors see this as a sign that markets are stabilizing. Here is the reasoning:

• Governments have kept interest rates or the cost of borrowing down to record low levels because they want to inject supply into the credit or capital markets.
• The Australia Government's decision to raise interest rates signals the confidence of improving markets in Australia and thus part of the international economy in which all investors are a part of.

The US interest rates or cost of debt has remained and is expected to remain at very low levels.