Mortgage and Financial News From 2007-10-20 Page 12
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U.S. company shares fall after Buffett's denial of interest
Xinhua News Agency - Problems in Countrywide and other subprime mortgage lenders had prompted the U.S. Federal Reserve Bank to pour billions of dollars into the market and cut the discount rate by 0.5 percent to bail out involved banks and institutions, whose stocks ...
2007-10-19 02:35:00 -
Lenders still play fast and loose
Los Angeles Times - Although the sub-prime mortgage meltdown has been years in the making, unmistakable signs of trouble emerged last year when the housing market first started to dip. Nevertheless, a new report found that sub-prime mortgages issued in the first half of ...
2007-10-16 05:59:00 -
Accredited faces suits from ex-employees
San Diego Union-Tribune - Embattled Accredited Home Lenders faces class-action lawsuits from former employees who allege the troubled subprime mortgage firm didn't provide required advance notice before laying off 1,600 workers nationwide in August, according to filings with ...
2007-10-20 01:41:00 -
Wales sits on massive mortgage mountain
IC Wales - Mortgage lenders last night spoke of the extent to which Welsh homeowners were being financially “squeezed” by rising mortgages. The repayment figures for 2002 represented 13.4% of Wales’ average joint take-home income. By last month, the ...
2007-10-20 12:58:00 -
Lenders pulling mortgages at last minute
This is Money - Mortgage lenders specialising in loans for those with chequered credit histories have begun to use claims of last-minute problems to go back on offers. The development comes in the wake of banks tightening their belts following the global credit ...
2007-10-20 01:34:00 -
Grim week for lenders pulls FTSE down 200 points (The Scotsman: Business)
A WEEK of bad news on housing, and continued nervousness for the mortgage market has hit the FTSE 100's lenders, among others.
2007-10-19 05:11:30 -
Investors put their money on more Fed rate cuts
MSN MoneyCentral - Investors increased their bets on Thursday that the US Federal Reserve would cut interest rates this month to stave off an economic slowdown, sending bond yields lower and pushing the dollar to a record low. Anxiety in the markets was exacerbated by ...
2007-10-18 11:37:00 -
THE FINE PRINT - Affinity cards: Don’t let logo fool you, read the ...
Patriot Ledger - Consider the specific terms as you would any credit card offer, such as the amount of the interest rate or finance charges; the amount of the annual fee, if any; late fees and over-the-limit fees, if any; and the length of the ‘‘grace period ...
2007-10-20 03:00:00 -
BLACK FRIDAY II
New York Post - The drop in 1987 was heavily connected to rising interest rates, whereas today federal funds futures are pricing in a 92 percent probability of a quarter-point interest rate cut when the Federal Reserve meets again in two weeks. If investors were ...
2007-10-20 01:05:00 -
Brazil Bond Yields, Real Rise After Pause in Interest-Rate Cuts
Bloomberg - Oct. 18 (Bloomberg) -- Brazilian local bond yields rose and the real strengthened after the central bank kept the benchmark interest rate unchanged yesterday. The yield on Brazil's benchmark zero-coupon bonds due in January 2008 rose 6 basis points ...
2007-10-18 06:30:00 -
Loonie soars to 33-year high
Winnipeg Free Press - OTTAWA -- The Canadian dollar hit a 33-year record high Friday, flying well past the US$1.03 mark on news that Canada's inflation rate had jumped to 2.5 per cent, stalling speculation that interest rates may be coming down. The loonie opened at US103 ...
2007-10-20 05:09:00 -
Rising Stocks Finally Collide With Rising Oil
Barron's Online - TO EVERYTHING THERE IS a post-season, and stocks' first loss in six weeks raises an intriguing question: Has the buying stint and afterglow inspired by the government's recent interest rate cut faded, or is this yet another blip in stocks' enduring ...
2007-10-20 04:11:00 -
Muni Board Considers Auction-Rate Bonds, Fair Prices (Update1)
Bloomberg - Disclosing the interest rate on auction bonds when they trade, not just their price as is done currently, would provide investors with more meaningful information, Frank Chin, chairman of the rulemaking body and director of public finance at ...
2007-10-19 01:38:00 -
Beating interest rate blues: Drive your car on discounts
Economic Times - NEW DELHI: Call it the festive bonanza or an effort to boost sales after over eight months of slump in the Indian automobile industry. Major car manufacturers have come up with attractive offers — either in the form of discounts or gift vouchers ...
2007-10-20 12:37:00 -
Govt ratifies EPF Board`s decision to retain 8.5% rate
Zee News - New Delhi, Oct 20: The Central government on Saturday ratified the Employees Provident Fund (EPF) Board’s decision to retain the 8.5% interest rate for nearly four crore EPF subscribers for the 2006-07 fiscal. The government put the stamp of ...
2007-10-20 02:45:00