Mortgage and Financial News From 2007-9-24 Page 19

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  • On the Move: Northern Rock, Renault, Siemens

    MSN MoneyCentral - ... flat B&Q second half like-for-like, down from 2%, while EBIT forecast falls 3%, offset by lower interest ... foundered after the company said it was committed to buying banks in Italy and Brazil and was only interested in growing its mortgage ...
    2007-09-24 07:55:00

  • City's west misses booming economy

    News.com.au - It was the only area singled out by the Reserve Bank in its report on the nation ... risen annually by 2 per cent over the past two years, even after rises in interest ... of difficulty", the most noticeable of which was western Sydney, where mortgage ...
    2007-09-24 07:20:00

  • Mortgage failings to 'deepen' sub-prime pain (eFinancial News)

    Moody's Investors Service, a US credit ratings agency, has predicted further downgrades of securities tied to sub-prime loans as it blamed mortgage servicing companies for failing to engage with borrowers to help reduce defaults and limit losses.
    2007-09-24 06:23:26

  • U.S.: mortgage default rate stabilizing (Lexington Herald-Leader)

    The default rate on U.S. mortgages is stabilizing, an American housing official said Monday, adding she didn't expect last week's cut in U.S. interest rates to significantly affect the number of defaults. Speaking on the sidelines of a forum in Singapore, U.S. Housing and Urban Development Assistant Secretary Darlene Williams said the U.S. Federal Reserve's bigger-than-expected half-point cut of ...
    2007-09-24 08:56:16

  • Pa. seeks mortgage reforms (The York Dispatch)

    PHILADELPHIA -- Jennie Scott is facing higher mortgage payments next month that she can't afford on her $1,000 monthly Social Security income. The 74-year-old North Philadelphia widow took on a $55,000 loan three years ago to pay off credit card debt and the remainder of her original mortgage.
    2007-09-24 08:09:40

  • Surprise: 'Toxic' Mortgages Are the Best (BusinessWeek Online via Yahoo! News)

    If you had to name the most toxic, dangerous, foolhardy kind of mortgage loan that exists, you'd very likely pick a pay-option ARM, which lets borrowers get deeper into debt by paying less than the minimum interest they owe each month and adding the unpaid interest to the loan principal. Worse yet, you might say, would be a pay-option ARM with a very high penalty for prepayment so borrowers ...
    2007-09-24 05:08:42

  • Pa. Proposes Sweeping Mortgage Reforms (AP via Yahoo! Finance)

    Jennie Scott is facing higher mortgage payments next month that she can't afford on her $1,000 monthly Social Security income.
    2007-09-24 05:53:58

  • Additional mortgage payment monthly or biannually? (Bankrate.com)

    Dear Dr. Don, When making extra principal-only mortgage payments on a conventional fixed rate 30-year mortgage -- is it better to make an additional principal payment every month, or can we make one lump-sum payment each year?
    2007-09-24 04:57:12

  • Post Office to sell mortgages

    Times Online - A range of home loans backed by Bristol & West, the Bank of Ireland's UK lending arm ... of lending Gary Fitton said: “We believe there is a real need for straightforward mortgage products, which don’t entice customers with headline grabbing rates ...
    2007-09-24 07:55:00

  • Wall Street trade is mixed as investors stay upbeat

    Baltimore Sun - Reports that begin rolling out Tuesday with existing home sales data for August ... on durable goods and consumer spending will give the Fed room to cut rates still ... Federal Housing Enterprise Oversight would allow the two government-backed mortgage ...
    2007-09-24 07:55:00

  • Fed to Cut Rates Again Before January, History Shows (Update3)

    Bloomberg - ... of the last seven recessions, say the Federal Reserve will lower interest rates ... at least 16 years will extend into 2008 as tighter loan standards cut into home ... has been ``selectively adding risk to portfolios'' by buying corporate and mortgage ...
    2007-09-24 07:41:00

  • Dollar Hits Another Record Low

    US News and World Report - The central bank was responding to market turbulence in the U.S. and elsewhere in the fallout from the subprime mortgage ... Lower interest rates, used to jump-start the economy, can weaken a currency by giving investors less return on investments ...
    2007-09-24 03:52:00

  • IMF spreads gloom on 2008

    Globe and Mail - Home   National British Columbia Prairies Ontario Quebec Atlantic Politics World Americas ... that a number of hedge funds were circling last week's major victim, UK mortgage ... There were tentative signs of some reduction in pressure on money market rates ...
    2007-09-24 06:01:00

  • Sarkozy War on Trichet Fails to Register With Markets (Update1)

    Bloomberg - ... president, Sarkozy has declared a war of words aimed at pressuring fellow Frenchman Trichet to lower interest rates. ECB ... Bernanke and fellow banking regulators were asleep at the switch during the worst of the subprime- mortgage abuses. ...
    2007-09-24 05:04:00

  • US: Mortgage Default Rate Stabilizing (Washington Post)

    SINGAPORE -- The default rate on U.S. mortgages is stabilizing, an American housing official said Monday, adding she didn't expect last week's cut in U.S. interest rates to significantly affect the number of defaults.
    2007-09-24 07:53:22

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