Mortgage and Financial News From 2007-9-9 Page 2
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TODAY'S MARKETS
Wall Street Journal - ... employment decline in four years -- heightening investors' fears that the credit ... Corporate profits will be [hurt], but it's not as bad as it looks today." And ... moral hazard -- cutting rates would bail out speculators, not subprime mortgage ...
2007-09-09 02:11:00 -
Bond Fund Investors May Be in for Shock
Newsday - ... three agencies' ratings mean and whether conflicts of interest were created if they gave advice to sellers of mortgage debt. Credit ... The problem is some of these mortgages were just phenomenally bad," he said. "There was sort of an assumption that ...
2007-09-09 04:06:00 -
Wall Street Credit Costs Surge on Widening Spread to U.S. Rates (Bloomberg.com)
Sept. 10 (Bloomberg) -- Wall Street is getting no benefit from the biggest bond market rally in five years.
2007-09-09 08:03:43 -
Get ready for a big bad day on market (Sydney Morning Herald)
Growing fears of a US recession are likely to weigh heavily on the Australian stockmarket today, after the worst US jobs data in four years raised fears the slowdown in housing and credit markets.
2007-09-09 07:10:53 -
Credit crisis to force up rates (News Interactive)
THE subprime mortgage crisis was not over, with further losses expected to be revealed soon, says the head of Australia's biggest bank.
2007-09-09 07:00:00 -
Australia 'can expect more' sub-prime mortgage fall out (The New Zealand Herald)
The sub-prime mortgage shakeout was not over, with further losses expected to be revealed at the end of this month, says the head of Australia's biggest bank.
2007-09-09 07:31:39 -
Latinos hit hard by ongoing mortgage crisis
Vacaville Reporter - Now, a growing number of those rates are adjusting up, leaving many lower-income homeowners unable to pay their mortgages. A ... calls the tightening criteria "a knee-jerk" reaction by the credit industry, and says the situation will eventually reverse ...
2007-09-07 05:55:00 -
Has growth stalled in Lehigh Valley?
Allentown Morning Call - ... mortgage crisis will only further dampen those options because it will be more difficult for consumers to get mortgages. And ... Real estate pros noticed not only the slowdown but also a small reverse migration -- people who moved to the Lehigh Valley ...
2007-09-09 06:33:00 -
Bankers tackle the US credit crisis
BBC News - I don't think there's anything that comes out of this that questions the value of capitalism, In fact quite the reverse ... One feeling did seem to be prevalent, and that was that regulation of the way in which mortgages were sold was inadequate. ...
2007-09-09 02:08:00 -
Ginnie Mae heads to Wall Street to curb MBS fears
Reuters - ... only issuer of U.S.-backed mortgage bonds, said they will meet with Wall Street traders on Wednesday in a bid to reverse ... Ginnie Mae officials said they will reassure investors that the FHA will boost disclosures on the mortgages, allowing them ...
2007-09-06 05:57:00 -
OPEC supports current output levels
MSNBC - There is concern that credit turmoil stemming from U.S. subprime loans -- risky mortgages -- might hit the real economy. ... Such a move would reverse some of the 1.7 million bpd of OPEC production cuts -- roughly six percent of supplies -- put in ...
2007-09-09 02:40:00 -
Stephen King: How Yossarian's philosophy could make us fly into a economic recession (Independent)
A wonderful conversation neatly summing up some aspects of the current financial crisis takes place in Joseph Heller's Catch 22:
2007-09-09 07:02:02 -
Most OPEC oil ministers hold line, Saudi silent (Reuters via Yahoo! News)
Most OPEC oil ministers held the line on Sunday that current output is sufficient to meet demand, but the world's biggest exporter Saudi Arabia was silent ahead of a September 11 meeting to chart production policy.
2007-09-09 12:56:42 -
Global Growth Threatened as U.S. Contagion Infects Asia, Europe
Bloomberg - U.K. lenders, including Merrill Lynch & Co.'s Mortgages Plc unit and Deutsche Bank AG, are tightening terms on home loans ... spending, which accounts for about 70 percent of the U.S. economy, rose at an annual rate of 1.4 percent in the second ...
2007-09-09 04:13:00 -
Subprime woes push foreclosure notices to new high
Seattle Times - The percentage of in-state loans on which foreclosure was started during the second quarter fell slightly to 0.27 percent. The delinquency rate for Washington mortgages rose to 2.62 percent, up about one-third of 1 percent from the first quarter. Doug ...
2007-09-07 12:40:00