Mortgage and Financial News From 2007-12-8 Page 11
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Prudent buyers irate at mortgage bailout (Provo Daily Herald)
When Casey Johnson and his wife moved to San Diego three years ago, they couldn't find a home in their price range. So they did what they thought was the sensible thing. Rather than over-leverage themselves with a risky mortgage, the couple rented an apartment in La Jolla, Calif., and waited for the housing market to drift back to earth, hoping they hadn't missed their chance to become ...
2007-12-08 12:09:24 -
Mortgage plan, rate cut hopes boost stocks
Kansas City Star - The mortgage plan announced Thursday by President Bush would freeze interest rates for five years for homeowners who are current on their mortgages but whose interest rates are expected to rise in coming months to help them hold on to their homes and ...
2007-12-05 03:53:00 -
Buyers in line for good deals as market booms
New Zealand Herald - And, according to test-cricketer-turned-mortgage-broker Adam Parore, more deals are likely to come on to the market as homeowners, who have enjoyed low fixed rates for years, have to contend with the current high interest rates. The Herald on Sunday's ...
2007-12-08 08:18:00 -
Rates batter BEE investors
Beeld - Saki Macozoma, the deputy chairperson of empowerment firm Safika Holdings, said the company had shielded itself from high interest rates. “In the majority of our investments we have hedged the interest- rate risk and will thus survive the current ...
2007-12-08 07:07:00 -
Time to tighten belts
New Zealand Herald - Inflationary pressures have increased, and interest rates are now likely to remain around current levels for longer than previously thought," Reserve Bank governor Alan Bollard said. UBS New Zealand economist Robin Clements says other central banks ...
2007-12-08 08:18:00 -
Joblessness holds at 4.7%
Baltimore Sun - Yet there is concern the central bank itself may be split over how to manage current economic events. Fed Chairman Ben S. Bernanke has shown a greater willingness to cut interest rates sharply to deal with a credit crunch and a possible recession ...
2007-12-08 08:25:00 -
U.K. Housing Transactions Will Drop 15% Next Year, HBOS Says
Bloomberg - Residential property sales will drop by 15 percent to 1 million from 1.17 million in 2007, the U.K.'s biggest mortgage lender said in an e-mailed statement today. HBOS predicted home values won't increase in 2008. The U.K.'s housing boom ...
2007-12-07 01:06:00 -
Drop in home prices puts owners in equity squeeze
Cincinnati Enquirer - How much people put down on the home has always been an important variable for the performance of a loan," said Thomas Lawler, a former official at mortgage lender Fannie Mae who is now a private housing and finance consultant. "Mortgage lenders lost ...
2007-12-08 02:27:00 -
Still going, but not yet home free
Charlotte.com - Still going, but not yet home free Hobbled by credit crunch, nation's top lender failing to spark investor confidence JAMES R. HAGERTY AND LINGLING WEI Wall Street Journal Since a credit crunch engulfed mortgage lenders in mid-August, analysts and ...
2007-12-07 11:43:00 -
San Francisco office offers hope for people stressed over loans
San Francisco Gate - Find cheaper home insurance, ask if the lender will add an additional 10 or 20 years onto her mortgage term to lower payments. "I try to give (callers) a working knowledge of how they can help themselves in talking to their lender," he said. "I ...
2007-12-08 07:21:00 -
A new mortgage? That'll be £10,000: Lenders raise fees to 'astronomical' levels (Daily Mail)
Finance giants are taking advantage of home buyers by introducing 'astronomical' mortgage application fees that can top £10,000. Banks and building societies are cashing in through charges that can add crippling extra costs to buying a home or remortgaging
2007-12-08 02:00:13 -
Still going, but not yet home free (The Charlotte Observer)
Since a credit crunch engulfed mortgage lenders in mid-August, analysts and investors have had nearly four months to think about whether Countrywide Financial Corp. can survive. Their conclusion? It is too early to tell. So far, the nation's largest mortgage lender has managed to limp along, largely by increasing its borrowings from the Federal Home Loan Bank of Atlanta and receiving $2 billion ...
2007-12-08 12:10:31 -
Unit labor costs fall 2% in third quarter, signaling low wage ...
Marketwatch - Because they are volatile and backward looking, the third-quarter productivity figures are likely to have little impact on deliberations at the Fed, where policymakers are expected to cut interest rates again next week after slashing their overnight ...
2007-12-04 03:54:00 -
RBS Sees Writedowns of $2.6 Billion
Chicago Tribune - ... Lansdown analyst Keith Bowman said that while "some lingering concerns will remain, with the full impact of the current ... The RBS statement followed a similarly conservative writedown for losses on securities linked to the U.S. subprime mortgage ...
2007-12-06 04:53:00 -
Local reaction mixed on Bush mortgage help
Atlantic City Press - Malamut said that only people who are current on their mortgage payments will be eligible for the program, "but it's the people with ... If their rates get frozen and it helps them, I agree with that," he said. "But they have to think about what they ...
2007-12-08 05:19:00