Mortgage and Financial News From 2007-12-8 Page 16
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U.S. Consumer Borrowing Rose $4.7 Billion in October (Update1)
Bloomberg - Dec. 7 (Bloomberg) -- U.S. consumer borrowing accelerated in October as buyers turned to credit cards and non-mortgage loans to maintain their spending, Federal Reserve statistics showed. Consumer credit increased $4.7 billion for the month to $2.49 ...
2007-12-07 01:13:00 -
Accord set for some subprime mortgage loans
Boston Online - The Bush administration plans to reveal today an agreement with the mortgage industry to stem foreclosures by suspending scheduled increases in the monthly payments on certain subprime loans. Borrowers who are making their mortgage payments now, but ...
2007-12-06 06:26:00 -
Loan fix requires investors to yield
Los Angeles Times - It could filter up," said Andrew Chow, who helps manage a portfolio of $14 billion in bonds, including securities backed by mortgage loans, at SCM Advisors in San Francisco. There also is a fear that many struggling sub-prime borrowers who would be ...
2007-12-07 11:57:00 -
American Mortgage Acceptance Company Provides Update on Market ...
Forbes - AMAC is a real estate investment trust that specializes in originating and acquiring mortgage loans and other debt instruments secured by multifamily and commercial properties throughout the United States. AMAC invests in mezzanine, construction and ...
2007-12-07 01:20:00 -
Snags in mortgage-rate relief effort
Philadelphia Inquirer - ... through" to obtain the five-year freeze on mortgage interest rates that was negotiated between the Bush administration and the mortgage industry. The freeze goes to the heart of the relief effort for people with subprime mortgages, which are loans ...
2007-12-07 11:57:00 -
Fed near on new mortgage guidelines
Chicago Tribune - These rules would apply to subprime loans offered by any mortgage lender," Bernanke said during Congressional testimony last month. The Fed's unique power in this area, which it has never used broadly before, could affect the outcome of broader ...
2007-12-07 11:50:00 -
One in 9 loans were subprime in Q3 (BizJournals)
Subprime loans made up more than 11 percent of the loans serviced in Hawaii in the third quarter of the year, according to a survey conducted by the Mortgage Bankers Association.
2007-12-07 06:06:18 -
MGIC to Limit Coverage of Risky Loans (AP via Yahoo! Finance)
The nation's leading mortgage insurer, MGIC Investment Corp., outlined its plan Friday to limit coverage for borrowers with poor credit and of higher risk loans, as well as to charge more for some loans in declining markets.
2007-12-07 01:34:43 -
Mortgage rates fall to 2005 levels
Reading Eagle - Rates on 30-year mortgages fell sharply again this week, dropping to the lowest level in more than two years. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.96 percent. That was down from 6.10 ...
2007-12-06 10:04:00 -
U.S. Michigan Consumer Sentiment Index Falls to 74.5 (Update1)
Bloomberg - Dec. 7 (Bloomberg) -- Consumer confidence dropped more than forecast to the lowest ... The Federal Reserve will probably cut interest rates again next week to prevent ... The number of Americans who fell behind on their mortgage payments rose to a 20-year ...
2007-12-07 07:29:00 -
Stocks fall ahead of Black Friday
Allentown Morning Call - Wall Street resumed its slide Wednesday as unease about the wilting mortgage market ... the Reuters/University of Michigan consumer sentiment survey showed its lowest ... bank's economic forecast seemed to imply it is willing to keep lowering rates. Wall ...
2007-12-08 12:04:00 -
Oil prices retreat after topping $90 a barrel
MSNBC - Others cited the administration’s announcement of a five-year freeze in loan rates for homeowners affected by the subprime U.S. mortgage crisis or an Organization for Economic Cooperation and Development estimate that China’s economy is growing ...
2007-12-07 09:02:00 -
30-year mortgage rates hit lowest since '05
Knoxville News Sentinel - WASHINGTON - Rates on 30-year mortgages fell sharply again this week, dropping to the lowest level in more than two years'. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.96 percent. That was down ...
2007-12-07 08:44:00 -
30-Year Mortgage Rates Fall Below 6% (TheStreet.com)
Benchmark rates reach their lowest level since the fall of 2005.
2007-12-07 09:56:11 -
Food Prices Climbing, With No End in Sight
Common Dreams - ... books on inflation data by excluding food costs (and energy costs)when calculating the rate of inflation and the consumer price index. This has been a primary driver in keeping US wages in a downward spiral since 1973 and caused the current mortgage ...
2007-12-05 03:53:00