Mortgage and Financial News From 2007-8-29 Page 24
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Dow industrials tumble 280 points
Los Angeles Times - Stocks of some home builders fell to new multiyear lows today, battered by a report that showed an index of U.S. home ... That also amplifies worries about rising mortgage defaults and their effect on the financial system. Banks and other financial ...
2007-08-28 10:08:00 -
Bernanke Opts for Tough Love and Targeted Cure: Caroline Baum
Bloomberg - The Fed is artificially holding the rate it targets above market, or natural, rates. Policy, in other words, is too tight ... bubble was inflating back then; today's housing bubble has burst, with far-reaching effect on homeowners, lenders, mortgage ...
2007-08-28 09:25:00 -
Housing crisis keeps buyers on sidelines
Boston Globe - LOS ANGELES (Reuters) - For some prospective home buyers in Southern California, the effect of the U.S. mortgage crisis has been to keep ... And, if they wait too long, getting a mortgage with low interest rates may get tougher. Already, interest ...
2007-08-29 12:17:00 -
Wall Street shaken as home price index drops to 20-year low
Guardian Unlimited - Global stock markets endured a fresh burst of volatility yesterday as new evidence emerged over the depth of America's sub-prime mortgage crisis, prompting nervousness over interest rates and economic stability. The FTSE 100 index fell 117 points to ...
2007-08-29 12:24:00 -
Housing starts cooling in 2007 and 2008
Worldnews.com - The slight pull back in housing starts this year and next will be mainly due to the continued growth in house prices coupled with modest increases in mortgage rates. The level of new home construction will decrease in all provinces except for ...
2007-08-28 11:34:00 -
Bank rates set to climb
News.com.au - INTEREST rates on home loans may go up regardless of any decision by the Reserve Bank of Australia. ... The possible rise in interest rates is due solely to the recent sub prime mortgage crisis coming out of the US. As much as I do not agree with ...
2007-08-29 12:39:00 -
Mortgage blow hits 'McMansion' clients
MSN MoneyCentral - Back then, the manager, recently married and looking to purchase his first home, had been approved for a mortgage at 80 per cent ... Jumbo mortgage rates inched down to 7.4 per cent last week but the week before they hit a five-year high of 7.43 ...
2007-08-28 11:34:00 -
Housing crisis keeps buyers on sidelines (Reuters via Yahoo! News)
For some prospective home buyers in Southern California, the effect of the U.S. mortgage crisis has been to keep them on the sidelines of the home market, wary of stepping in for fear prices will fall further.
2007-08-29 12:22:10 -
Nobody Home At CIT Group (Forbes)
Shares down after company shutters home lending operation.
2007-08-28 06:14:34 -
RAMS says no plans to lift loan rates (Perth Now)
RAMS Home Loans Group said it does not intend to lift interest rates on any of its products, as a result of higher funding costs, at this stage.
2007-08-28 12:50:00 -
IndyMac Enlists 600 Fired From Bankrupt American Home (Update2) (Bloomberg.com)
Aug. 28 (Bloomberg) -- IndyMac Bancorp Inc., the second- biggest U.S. independent home lender, is hiring as many as 850 former employees of bankrupt American Home Mortgage Investment Corp. in a push to loan more through storefront offices.
2007-08-28 09:55:44 -
Mortgage crisis hits home (Hazelwood-Bridgeton Journal)
A year ago, Cheryl Trueblood and her family were trapped in the mortgage crisis that is still gripping thousands of homeowners in North County and millions nationwide.
2007-08-28 08:33:37 -
'The pullback in the U.S. residential real-estate market is showing no ...
Marketwatch - Meanwhile, foreclosures have been rising and the credit crunch is making it harder to obtain home loans. Falling home prices also make it more difficult for borrowers to refinance their mortgages.
2007-08-28 06:55:00 -
Subprime Spillover: Who's Next?
Forbes - The report said the Atlanta, Ga.-based home builder relies heavily on debt for acquisition-related growth, and with the ... to buy its debt back and in the current credit environment it would be extremely difficult for the company to refinance its debt
2007-08-28 11:48:00 -
Gen X home buyers make their presence known
AZCentral.com - With rates on many homeowners' adjustable-rate mortgages rising, some who would like to refinance into a new loan are finding ... Home Edition . Homes in SE Valley becoming less affordable, study confirms The latest Arizona State University affordability ...
2007-08-28 07:52:00