Mortgage and Financial News From 2007-10-22 Page 21
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FTSE falls 114.5 points as markets brace for turbulent Black Monday ...
Daily Mail - Back to home ... of America admitted the sub-prime mortgage market crisis would cost it £2billion. On Black Monday, the Dow plunged 23 per cent amid fears over slowing economic growth and rising interest rates.
2007-10-21 11:15:00 -
Home foreclosures in area on pace to surpass last year
News-Democrat - Dearborn said a bigger problem was many consumers were lured into home buying by such rates without knowing what they were getting into. "I don't think that people actually understand," Dearborn said. "A lot of people are getting into a mortgage ...
2007-10-22 02:36:00 -
Convention Calendar
Salt Lake Tribune - National Association of Realtors reports on existing home sales for September. Thursday: * Commerce ... Freddie Mac, the mortgage company, reports on mortgage rates. IPOs planned Initial public offerings planned for the ...
2007-10-22 12:05:00 -
SIV Shock, Inflation Make U.S. Treasuries Unbeatable (Update1)
Bloomberg - Oct. 22 (Bloomberg) -- The combination of record U.S. home foreclosures, rising ... The so-called agency bonds of mortgage finance providers Fannie Mae in Washington and ... We will see a pick-up in volatility in 10-year rates as the Fed eases,'' said Eric ...
2007-10-21 10:25:00 -
Strong euro buoys foreign sales of U.S. yachts
Miami Herald - ... among Europeans for U.S.-built yachts because of the favorable exchange rates. ... the sidelines to lick their wounds over the housing slump and the subprime mortgage ... Symbol Pilothouse built in Taiwan and shipped her to Turkey, where he has a home ...
2007-10-22 12:27:00 -
Wachovia's 3Q profit drops 10 percent
Associated Press - ... deposits and reflected the bank's October 2006 acquisition of Golden West Financial Corp., which expanded Wachovia's mortgage ... Net interest margin, a measure of the difference between Wachovia's borrowing costs and lending rates, dropped to 2.92 ...
2007-10-22 02:36:00 -
Tokyo Stocks Tumble in Morning on Wall Street Dive
JCN Newswire - It sank as low as 16,264.70, hitting the lowest level since Sept. 25 on an intraday ... As the dollar has fallen below 115 yen, its levels are now lower than the rates ... of resurgent worries about the fallout from the troubled U.S. subprime mortgage ...
2007-10-22 12:20:00 -
Greenspan Says Dollar Drop May Reflect Falling U.S. Debt Demand
Bloomberg - The dollar's decline to its lowest since 1997 may be ``an indication America is ... also said that the August surge in the cost of credit after a jump in U.S. mortgage ... banks also increasingly appeared to have ``lost control'' of market interest rates ...
2007-10-21 05:39:00 -
Organizations offering aid to homebuyers
Inland Valley Daily Bulletin - The Barrons signed an "80-20 loan" or "piggyback loan," which is a two-in-one mortgage that can have adjustable rates. Through San ... Sales plunged to their lowest level in more than two decades for the Southern California area, it stated ...
2007-10-22 12:05:00 -
Home buyers need solid foundations
Palm Beach Post - Lenders rely heavily on that score to assess how likely a person is to repay a mortgage on time. The more risk potential home buyers pose, the less likely they are to get loans at the lowest interest rates and with the best terms - if they can get ...
2007-10-21 08:59:00 -
Higher interest rates hit home (Financial Times)
Homeowners are feeling the effect of higher interest rates according to figures that show mortgage lending fell 12 per cent last month.
2007-10-18 02:42:09 -
U.S. Housing Decline Threatens to Last Into 2009: John F. Wasik
Bloomberg - Monitoring inventory, builder incentives and demand, Zelman is also watching adjustable-rate mortgage resets. Homeowners with these loans will automatically face higher monthly payments that they may not be able to afford, another trigger for ...
2007-10-21 11:37:00 -
Stiglitz Says U.S. Housing Slump Will Stunt Consumer Spending
Bloomberg - A U.S. real-estate recession sparked by defaults on home loans to borrowers with poor credit histories may worsen as stricter lending rules and higher mortgage rates make it more difficult for potential buyers to get financing. A drop in consumer ...
2007-10-22 12:27:00 -
Get Ready for the Big Squeeze
New York Times - While troubles in residential mortgage loans have been evident for months, Mr. Gast notes that the credit cycle has not yet begun to turn down among other sectors — like commercial and industrial loans and consumer debt, which includes credit card ...
2007-10-21 05:10:00 -
CORRECTION Singapore banks Q3 earnings expected to show strong loan ...
Forbes - Available data for July and August showed that loans expanded at an average of about 11 percent, with the construction sector leading the sharp loan take-up. The home mortgage sector also recovered and showed growth of more than 10 percent for the ...
2007-10-22 12:13:00