Mortgage and Financial News From 2007-8-26 Page 15
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Mortgage boat has holes, but is still afloat (Chicago Tribune)
From the headlines, you might think that lenders will never offer another mortgage.
2007-08-25 02:23:11 -
US mortgage lenders to cut staff (Financial Times)
Accredited Home Lenders and HSBC announced a combined loss of more than 2,000 US jobs on Wednesday in the growing impact of mortgage market turmoil.
2007-08-25 10:38:19 -
U.S. Bill Yields Rise From Two-Year Low as Credit Concerns Ease
Bloomberg - Interest-rate futures show traders reduced bets the Fed will lower its overnight lending rate between banks by a half- percentage point to 4.75 percent by its Sept. 18 meeting. Futures show a 58 percent chance of a cut to 5 percent, compared with 40 ...
2007-08-25 08:24:00 -
Japan Eager to Lift Interest-Rate Target
Wall Street Journal - TOKYO -- The Bank of Japan, after holding its key interest rate unchanged Thursday, laid the groundwork for a possible increase in coming months, indicating that it expects recent market gyrations to have limited impact on the Japanese economy ...
2007-08-23 10:57:00 -
Dollar tumbles as credit concerns outweigh strong US economic data
Gulf News - The pound, with the highest interest rate in the Group of Seven industrialised nations, has been a key beneficiary of this trade. Sterling strengthened broadly after Britain's GDP deflator hits its highest level since 1996 in the second quarter ...
2007-08-26 01:18:00 -
Voters trust Labor with money, poll finds
News.com.au - The poll also found 55 per cent of respondents said the recent interest rate rise had no effect on their voting intentions. Twenty-four per cent said they were more inclined to vote Labor because of the rate rise, compared to four per cent for the ...
2007-08-25 11:38:00 -
China's Central Bank Hints at Rate Hikes
MSN MoneyCentral - BEIJING (AP) - China's central bank Friday hinted at further rate hikes to reverse negative real interest rates and warned of risks from surging asset prices. Earlier this week, the People's Bank of China raised its benchmark deposit and lending ...
2007-08-24 11:50:00 -
State Bank firm on interest rate policy (Nhan Dan)
State Bank of Vietnam (SBV) executives have ruled out any changes in the interest rates till the end of the year amidst a trend towards increasing interest rates among the country's commercial banks.
2007-08-25 09:28:03 -
Strong UK economic growth raises chances for further interest rate cut (Gulf Times)
LONDON: Britain’s economy grew strongly for a sixth straight quarter in the three months to June, data confirmed yesterday, reinforcing the case for one further interest rate hike if turbulent financial markets calm down.
2007-08-25 05:27:59 -
Many at fault for mortgage fracas
Biloxi Sun Herald - A few years ago homes were being bought and sold in record numbers and many mortgage companies grew very quickly. Branch offices started popping up everywhere and some of the people running those branches had little training or experience. Bad loans ...
2007-08-24 07:54:00 -
Dan Gross: Countrywide’s $2 Billion Bailout
MSNBC - Last fall, mortgage companies--mostly smaller, subprime operators--began to fail. And as is typically the case after a bubble, a well-heeled consolidator seemed poised to pick up market share on the cheap. Countrywide, which had a comparatively small ...
2007-08-23 12:53:00 -
US job market may be dreaming of bleak Christmas
Daily Times - The obvious blows to the jobs market will come from construction and financial services, which includes mortgage companies, but Bethune also sees potential losses from the transportation sector if freight shipments fall, and retail hiring may be ...
2007-08-25 09:00:00 -
Hand: Mortgage rules on the radar
Sun Chronicle - Many Americans are losing their homes and mortgage companies are in financial trouble because of the risky loans initiated by the firms. Frank, D-Newton, points out that most of the problems have come with unregulated mortgage originators rather than ...
2007-08-25 05:30:00 -
Moody’s downgrades NovaStar Mortgage’s servicer rating
Kansas City Star - Dozens of mortgage companies have shut down, left the business or filed for bankruptcy protection. NovaStar Financial last week cut 500 jobs, or 37 percent of its workforce, and closed centers in California and Ohio. In early trading today on the New ...
2007-08-22 07:02:00 -
Moody's, S&P face more EU scrutiny on mortgage bonds
Stockhouse Canada - European Union regulators extended an examination of credit rating companies' role in helping create 'structured finance'' instruments such as the subprime-mortgage bonds that are roiling debt markets. The Committee of European Securities Regulators ...
2007-08-25 09:15:00