Mortgage and Financial News From 2007-9-16 Page 18
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The provincial also-ran which became one of UK's biggest lenders
Guardian Unlimited - The major mortgage lenders werre quick to dismiss Northern Rock business model as "unique" with little risk that funding shortalls will arise elsewhere. But others are less convinced. Kenneth Murray of Blue Planet, which runss the the UK's top ...
2007-09-14 10:45:00 -
Rocked by Northern Rock bank
Khaleej Times - DESPITE assurances from the British treasurer Alistair Darling and the chairman of Northern Rock bank itself, worried customers have thronged the mortgage lenders branches in their hundreds to withdraw their savings. Queues formed outside branches of ...
2007-09-15 08:52:00 -
Going 'Reverse' And Moving Forward
Hartford Courant - Just over 300,000 reverse mortgages have been originated in total, representing less than 1 percent penetration, according to the National Reverse Mortgage Lenders Association. But recent statistics show the industry is growing. Issuance of these ...
2007-09-15 11:58:00 -
Between Rock and a hard place - savers besiege bank
Guardian Unlimited - With speculation other mortgage lenders were at risk, the FTSE 100 index closed down more than 1%. A sharp drop in shares of buy-to-let lender Paragon Mortgages made it issue a statement that it had no need to resort to the Bank of England, while ...
2007-09-15 05:24:00 -
Mortgage market turmoil beginning to affect credit card terms
Pantagraph - Although credit card issuers and other companies that lend to consumers have escaped the barrage of defaults that mortgage lenders have suffered, they’re nonetheless being more careful about who they lend to, and under what terms. Some card issuers ...
2007-09-15 10:25:00 -
A backlash over mortgage-bailout plan
Philadelphia Inquirer - In July, the Pennsylvania Housing Finance Agency launched a loan program that helps homeowners switch to a traditional 30-year, fixed-rate mortgage at lower interest rates. The housing agency will buy the loans from lenders, financed by selling ...
2007-09-15 11:58:00 -
Loan rules tighten amid subprime mortgage mess
Detroit Free Press - Not long ago, lenders were handing out mortgages to anyone with a phone number and a pulse. Those easy-money days are history. As the mortgage meltdown has spread, lenders are demanding stellar credit and proof of income. Zero-down payment mortgages ...
2007-09-16 12:05:00 -
Loan rules tighten amid subprime mortgage mess (Detroit Free Press)
Not long ago, lenders were handing out mortgages to anyone with a phone number and a pulse. Those easy-money days are history. As the mortgage meltdown has spread, lenders are demanding stellar credit and proof of income. Zero-down payment mortgages have almost disappeared.
2007-09-16 12:21:59 -
Houston mortgage monitor (Houston Chronicle)
The mortgage interest rate list represents a sampling of rates as quoted by lenders in the Houston market on Friday. Rates, which may change on Monday, are for 90 percent loans and do not include origination fees. The numbers in parentheses after the rates are discount points. A point is equal to 1 percent of the loan amount
2007-09-15 10:47:41 -
Interest rate raised for 5th time this year
China Economic Net - The central bank raised interest rates for the fifth time this year on Friday as part of its continuing efforts to arrest the rising inflation graph and prevent the economy from overheating. The benchmark one-year lending and deposit rates will be ...
2007-09-15 05:39:00 -
US stocks may rise on likely interest rate cut
Economic Times - NEW YORK: Wall Street expects Federal Reserve policy-makers to cut interest rates next Tuesday to help ease a global credit squeeze, a much anticipated event that spurred stock prices higher this week and could boost them next week. Investors expect ...
2007-09-15 04:41:00 -
No more major IR changes, Hockey says
News.com.au - Mr Costello warned unemployment would soar and home owners would be slugged with interest rate rises under a Labor government. "If we go back now ... we will go back to the bad days, the days of wage claims, inflation, interest rate hikes, recession ...
2007-09-15 08:52:00 -
AP Business NewsBrief at 2:24 a.m. EDT
CNBC - ... gains were weaker than expected as financial market turbulence and a slumping housing market continued to weigh on the economy. Analysts said the new economic reports released Friday give the Federal Reserve more reasons to cut a key interest rate ...
2007-09-15 11:29:00 -
Time to make some money decisions
Arizona Daily Star - If you're banking on an interest rate cut fairly soon — and you should — it's time to consider what moves to make with your money. Do you lock up a CD now? Wait around to refinance? Drag your feet on a car loan? The Federal Reserve board meets ...
2007-09-15 11:22:00 -
Initiatives target possible flu outbreak
St. Petersburg Times - The Bank of Canada key interest rate is steady at 4.50 percent while the prime lending rate remains at 6.25 percent. Stock markets are higher, with the Toronto index at 13,684 points and the TSX Venture Exchange 2,758 points. Lotto 6-49: (Wednesday ...
2007-09-15 09:21:00