Mortgage and Financial News From 2007-10-15
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China A-shares close at record led by blue chips; benchmark above 6 ...
Forbes - The property sector will be more sensitive to further rate hikes and other anti-bubble measures, especially after the most recent 78 basis point rise in mortgage lending rates for second home buyers,' said Jun Ma, economist at Deutsche Bank. The 17th ...
2007-10-15 01:54:00 -
Business Minute: Stocks weaken...Oil prices rise...Americans win ...
Idaho8.com - This Week in House and Home House & Home Main Today's Mortgage Rates In the Know Movie Listings Personal Finance This Week in Money Money Home For ... Associated Press - October 15, 2007 10:23 AM ET NEW YORK (AP) - Stocks have edged lower since the opening ...
2007-10-15 07:02:00 -
Banks plan fund to revive market
BBC Business - Higher US mortgage rates have sparked record home loan defaults among people who have poor credit histories. These defaults have hit financial markets worldwide because the sub-prime mortgages had been packaged up and sold to financial institutions ...
2007-10-15 04:46:00 -
Mortgage rejections soar
MSN UK News - New figures show a total of 738,000 home loan applications were rejected by lenders during the six ... The group said consumers were being hit by a combination of higher interest rates and tighter lending criteria among mortgage companies.
2007-10-15 07:23:00 -
Little-Known Option Available to Avoid a Home Foreclosure
The Ledger - Other exotic loans came with adjustable interest rates with little to no down payment needed to close on the home. As the interest rate of the mortgage adjusted upward, homeowners fell behind in payments. Now, neck-deep in building debt, foreclosure is ...
2007-10-15 02:51:00 -
Citigroup Posts 57 Percent Drop in 3Q
Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists ... 57 percent after the biggest U.S. bank took a hit of more than $3 billion in mortgage ... The Federal Reserve has lowered interest rates and helped loosen up the markets ...
2007-10-15 08:13:00 -
Mortgage setbacks slow Citigroup profit to 2.4 bln dlrs (AFP via Yahoo! News)
Mortgage woes and big loan write-downs took a dramatic toll on Citigroup's third quarter profits, but America's largest banking group on Monday still reported a net profit of 2.4 billion dollars.
2007-10-15 07:09:33 -
Mortgage rejections up by 60% (Channel 4)
The number of people who have had mortgage applications turned down has soared by 60% during the past six months, figures showed. A total of 738,000 home loan applications were turned down by lenders during the six months to the end of September as mortgage firms tightened their lending criteria.
2007-10-15 05:10:04 -
US Treasuries dragged into the problems, as prospect on Fed easing ...
FXStreet.com - Weber said that the ECB might need to bring rates in restrictive territory ... September, as shown in the monthly report of Countrywide, the biggest mortgage lender. This should result in the NAHB index to drop even below last month’s 20 to the lowest ...
2007-10-15 02:30:00 -
Home packs rush drives up asking prices
This is Money - This was the lowest quarterly rise since winter 2005 and substantially lower than the 1.5% increase seen ... Hips and their side-effects are straddling a period of record house prices, the highest interest rates for six years and a tightening in mortgage ...
2007-10-15 07:02:00 -
Howard a victim of his biggest successes
The Australian - ... Reserve Bank to an economy at, or close to, full employment: rising interest rates ... has touched them, faced with balancing the family budget, paying the mortgage or ... The lowest unemployment numbers in more than 30 years and the tiny percentage of ...
2007-10-15 07:02:00 -
Price-cuts pressure on shops in sales slowdown
Evening Standard - The London Retail Consortium said sales in the capital last month were at their lowest since May ... Higher mortgage repayment costs on the back of rising interest rates and tighter lending conditions in the world's money markets have prompted a ...
2007-10-15 03:56:00 -
Race Disparities in N.Y. Mortgages
HispanicBusiness.com - ... rates of mortgages from subprime lenders while non-Hispanic whites made up the majority of the 10 areas with the lowest rates ... Mortgage Bankers Association economist Jay Brinkmann told The New York Times the analysis didn't provide enough information ...
2007-10-15 07:09:00 -
BOJ Cuts Economic Assessment in Three of Nine Regions (Update4)
Bloomberg - ... for the central bank to pursue its policy of gradually raising interest rates ... has become ``somewhat uncertain,'' although the effect of the U.S. subprime mortgage ... last week kept the benchmark overnight lending rate at 0.5 percent, the lowest in ...
2007-10-15 03:06:00 -
Citigroup Net Falls 57 Percent on Fixed-Income Losses (Update4)
Bloomberg - ... was 7.4 percent, down from 18.9 percent a year earlier and the second-lowest among ... of $1.35 billion for leveraged-buyout loans and $1.56 billion for subprime mortgage ... said Frank Braden, an equity analyst at Standard & Poor's in New York who rates ...
2007-10-15 07:16:00