This week from the @valeofinancial Twitter feed

Credit

• Fixed-Rate Mortgages Continue To Find New Record Lows. 30-year fixed averaged 4.09% & 15-year fixed 3.30% Freddie Mac
• 20 percent of borrowers in foreclosure on first mortgages remain current on their second liens Bloomberg
• Student loan defaults on the rise at public universities Stateline

Banks

• About 20% of mortgages held by banks & thrifts regulated by OCC are delinquent or in process of being written off. OCC
• US banks privately lending billions to support ailing European lenders IFR
• Vickers Report in the UK proposes investment banking operations be ring-fenced within UK banks. Bloomberg

Europe

• Spain to impose wealth tax in 2011 and 2012 on those with assets of more than €700,000 Wall Street Journal
• France now more risky than California: Bespoke
• Italy reportedly aiming to sell ‘significant’ amounts of bonds to China Bloomberg

U.S. Economy

• Estimating the effect of government policy on future U.S. economic growth. Chart and commentary: Financial Times
• Inflationary pressure on producers eases in August. Valeo Financial Advisors
• Industrial Production Rises for Fourth Month Bloomberg

Employment

• Small Business Hangs ‘Demand Wanted’ Sign Wall Street Journal
• People with jobs tread water. Fewer people have jobs. Household income falls. 3 graphs: Planet Money
• Daily chart: Who are the world’s biggest employers? The Economist