Mortgage and Financial News From 2007-11-12 Page 5
Previous Day: 2007-11-11
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E*Trade Going Out Of Business?
Forbes - In that filling the company warned that "overall pressure in the residential real estate market including slowing home price appreciation or depreciation, rising mortgage interest rates and tighter mortgage lending guidelines across the industry are ...
2007-11-12 02:25:00 -
Moody's downgrades Impac-backed bonds
CNBC - Moody's said the home loans backing these bonds are suffering higher rates of defaults and foreclosures than expected. Impac Mortgage Holdings essentially shut down this year as the company's financial backers cut it off from borrowing more money. ...
2007-11-12 12:52:00 -
1.7m 'move savings since Rock crisis'
Daily Telegraph - Soaring interest rates - which have led to millions of mortgage holders and credit card lenders feeling the pinch - have also translated into better savings rates. According to the Bank of England, the average saver was being offered an interest rate ...
2007-11-12 05:10:00 -
Amerisave helps borrowers find loan's retail markup
Boston Online - Wholesale mortgage prices are "inside" prices, available to mortgage brokers and lenders but not to borrowers -- until now. Through a special arrangement with Amerisave, I now provide wholesale interest rates on my Web site. Last week, I discussed ...
2007-11-12 03:16:00 -
Credit turmoil hits US commercial property
Financial Times - Market turbulence is also raising the cost of commercial mortgage borrowing. The difference in rates on AAA-rated CMBS and the so-called risk-free rate has more than doubled since June, reaching their highest level since October 1998. Investors have ...
2007-11-12 02:18:00 -
Why it's belt-tightening time
News.com.au - So how does hiking official cash rates - and adding more to the cost of your mortgage - help? "The rationale is that if the economy is growing too fast, demand for goods may be outstripping supply, causing prices to rise,'' says CommSec chief ...
2007-11-12 03:23:00 -
Westpac, ANZ mortgage rates go up
The Australian - ANZ and Westpac followed the other major banks yesterday and lifted their standard variable mortgage interest rates by 25 basis points. Westpac said its variable rate would rise in line with the Reserve Bank's 25-basis-point rise but cautioned that ...
2007-11-12 05:50:00 -
Momentum building for steeper yield curve
Stockhouse Canada - Traders think momentum for a steeper curve is building.A steeper yield curve puts a floor under mortgage rates, potentially exacerbating existing problems in the housing market as borrowers struggle to refinance into new home loans. But it also ...
2007-11-12 03:30:00 -
Dow below 13,000 for first time since August
MSNBC - The Nasdaq composite index was the biggest decliner among the major indexes as investors sold technology stocks. News stories kept the subprime contagion in focus. Late Friday, E-Trade Financial Corp. said the value of its mortgage-backed securities ...
2007-11-12 03:37:00 -
Fitch Downgrades National City Mortgage's Residential Servicer Ratings
Forbes - Fitch rates residential mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. Within some of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat ...
2007-11-12 11:48:00 -
Fastest rise in food prices for 14 years
Daily Telegraph - The higher weekly food bill is affecting families at the same time as rising council taxes and mortgage rates that have moved to a nine-year high. Various staples have been subjected to higher prices over the past 12 months. A kilo of peas has gone up ...
2007-11-12 05:10:00 -
Surveyors add to fears of fall in house prices
Guardian Unlimited - Meanwhile, economists at HSBC released a report yesterday which forecast that house prices in France - where many Britons have bought in recent years - would fall by 3.3% next year because of rising mortgage rates and squeezed household finances. ...
2007-11-12 06:43:00 -
Mortgage Market Problems Spreading (Hartford Courant)
Credit Card Companies And Banks Say More Consumers Are Having Trouble Paying Off Debts The malaise in the mortgage market is starting to spread to credit card and auto loans in what one analyst has dubbed a consumer credit "contagion." It's an ominous warning signal for the economy.
2007-11-12 07:10:00 -
Yen Declines on Speculation Fukui to Signal Rates Are on Hold (Bloomberg.com)
Nov. 13 (Bloomberg) -- The yen dropped against all 16 of the most-active currencies on speculation Bank of Japan Governor Toshihiko Fukui will signal plans to leave interest rates unchanged to support economic growth.
2007-11-12 06:06:14 -
New Mortgage Rules Leave Industry Reeling (Banker & Tradesman)
By Amy Wyeth With foreclosure rates skyrocketing, new mortgage regulations will be implemented this week. Hudson, Westborough Banks Add New Merger to Year’s Tally By Amy Wyeth Chalk up one more merger to 2007, a busy year in an increasingly competitive, expensive and diverse financial services environment in the Bay State.
2007-11-12 08:29:05
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