Mortgage and Financial News From 2007-9-9 Page 4
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AP Business NewsBrief at 6:24 p.m. EDT
CNBC - ... until the Federal Reserve says for certain whether it's lowering interest rates ... Chicago's Union Station _ rested after the 500-mile trip but anxious to get home ... Some experts _ and hedge fund investors who have made big bets that the mortgage ...
2007-09-09 03:23:00 -
Mortgage mayhem too fast for law
Denver Post - Existing consumer protection laws give the attorney general the power to take on mortgage brokers who advertised home loans with low interest rates that quickly got jacked up in a classic bait-and-switch scheme, said Denver real estate attorney John ...
2007-09-09 03:58:00 -
Fears of mis-selling scandal as IVA firms woo struggling home owners
Guardian Unlimited - Fears of mis-selling scandal as IVA firms woo struggling home owners ยท Call centre ... 30% rise on a year ago, according to figures from the Council of Mortgage Lenders. ... of the year lobbying the Insolvency Service to publish figures on failure rates so ...
2007-09-09 05:10:00 -
Trichet, China's Zhou Say Credit Crisis Effects Limited So Far
Bloomberg - For now, central banks worldwide are refraining from raising rates as they assess how the credit squeeze will affect growth ... In China, financial institutions' ``exposure'' to the U.S. subprime mortgage crisis is ``not significant,'' Zhou said today ...
2007-09-09 11:41:00 -
Home-equity loans quickly drying up (The Arizona Republic)
When James Chou's credit-card debt began to spin out of control a few years ago, he turned to a home-equity loan to pay it off. It proved to be a wise choice. Interest rates on home-equity loans are generally lower than on credit cards. What's more, the interest is tax-deductible, unlike credit-card interest.
2007-09-08 10:42:02 -
U.S. Stocks Fall After Payrolls Drop for First Time in 4 Years
Bloomberg - ... Department yesterday, boosted odds the Federal Reserve will reduce interest rates ... their jobs, they stop spending, they default on debt, they can't pay their mortgage ... Treasury two-year note yields tumbled to 3.90 percent, the lowest since September ...
2007-09-08 11:49:00 -
Oregon posts 2nd-lowest foreclosure rate in U.S.
OregonLive.com - ... the nation's second-lowest foreclosure and delinquency rates in the country in the second quarter of 2007. Of Oregon's 627,000 home loans, .5 percent were in foreclosure and 2.4 percent were at least 30 days past due, according to the Mortgage ...
2007-09-05 05:58:00 -
United States could go into recession, warns OECD
Guardian Unlimited - ... insure against the prospect of recession with an immediate cut in interest rates ... that pending sales of already-owned US homes fell by 12% in July to their lowest ... The crisis we have seen in the US mortgage market shows how volatile financial ...
2007-09-05 05:58:00 -
Home prices rise $50,000
Stuff - ... Institute reported the median house price had fallen $5000 between May and July and that July sales were the lowest ... Spending is being hit by a combination of higher mortgage interest rates, slowing migration, a cooling housing market and higher ...
2007-09-09 01:57:00 -
Jobs dip heightens fears of recession
USA Today - ... and all but cementing a cut in the target for short-term rates when the Fed meets Sept. 18. The job weakness suggests the fallout from the housing-market bust and mortgage ... of price, sank to 4.37%, down from 4.50% a day earlier and its lowest ...
2007-09-09 04:06:00 -
Should Congress bail out troubled borrowers?
MSNBC - An adjustable (mortgage) is adjustable: The buyers got a lower price to take the risk of higher rates down the road. They knew what they were doing and the risks ... What often was not explained to these borrowers was that the lowest-cost options ...
2007-09-09 03:58:00 -
Bond fund investors may be in for shock (Lexington Herald-Leader)
Could the housing market's woes spread to bonds held in mutual funds by millions of ordinary investors? Some experts - and hedge fund investors who have made big bets that the mortgage crisis will worsen - are saying that's exactly what will happen. Some bond funds that invest in riskier short-term debt already have been whacked by soaring default rates on bonds backed by subprime loans made to ...
2007-09-09 11:28:41 -
Lehman, National City Scale Back
US News and World Report - ... represent just the latest wave of layoffs in the mortgage industry, which is suffering from decaying credit quality, slipping home prices, and a drainage of demand among investors and banks for home loans. Two weeks after closing its BNC Mortgage LLC ...
2007-09-09 11:34:00 -
Mortgage delinquency rate rises to 5.12 percent
Battle Creek Enquirer - The delinquency rate for mortgage loans on one-to-four-unit residential properties stood at 5.12 percent of all loans outstanding in the second quarter of 2007 on a seasonally adjusted (SA) basis, up 28 basis points from the first quarter of 2007 ...
2007-09-09 06:40:00 -
Credit crisis to force up interest rates
News.com.au - ... it would not be such a bad thing if a few non-bank lenders, crippled by higher funding costs, were forced to exit the market, and reiterated that the US subprime mortgage crisis caused by people with poor credit histories defaulting on their loans ...
2007-09-09 03:51:00