Mortgage and Financial News From 2007-12-16 Page 11
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Greenspan sees early signs of U.S. stagflation
Forbes - The U.S. central bank has lowered its benchmark interest rate three times since mid-September as a housing downturn, tightening credit conditions, and steep food and energy prices threaten to push the U.S. economy into recession. But cutting rates can ...
2007-12-16 09:13:00 -
Borrowers must pass tests to qualify for a rate freeze
Baltimore Sun - It may be the only test you flunk if you score too high: It's called the "FICO Test" and it is a key element of the sometimes arcane new guidelines governing which homeowners qualify for "fast track" interest rate freezes on their subprime mortgages ...
2007-12-16 12:38:00 -
Israeli Bonds Fall Most in a Year on Concern Rates Will Rise
Bloomberg - The inflation data was much higher than the forecast, which leads investors to expect an interest-rate rise next month,'' said Gil Chen, a bond trader at Israel Brokerage & Investments Ltd. in Tel Aviv. ``We're seeing a lot of sales from locals today
2007-12-16 09:42:00 -
Uncertainty over rate cuts will continue to absorb investor attention this week (MSN Money Canada)
TORONTO - Trading is likely to be volatile in the last full week of trading for 2007 as investors continue to fret about the credit crisis and worry about whether higher inflation will prevent the U.S. Federal Reserve from making more interest rate cuts.
2007-12-16 09:26:53 -
Rate cut not a quick fix for housing slump (Sun-Sentinel)
The housing market will not recover because the Federal Reserve cut a key short-term interest rate last week.
2007-12-16 12:11:44 -
Subprime lending crisis slows home sales, too
Omaha World-Herald - Patrick Carey, senior vice president of default and retention operations for Wells Fargo Home Mortgage, based in Fort Mill, S.C., said it's the same scenario nationally. It is common practice for a homeowner to make a purchase offer contingent on the ...
2007-12-15 06:40:00 -
HUCKABEE has moved into first, but will he last over the long haul?
Buffalo News - How will people in Iowa, where home ownership ranks well above the national average, react to the prospect of losing their home mortgage deductions? And how will voters everywhere weigh his complete lack of foreign-policy experience? Other elements ...
2007-12-16 06:36:00 -
Look at the long term with superannuation
News.com.au - I have $100 a week I can spare to either salary-sacrifice to my superannuation or use to pay off my home mortgage ($120,000). My super fund is paying 16 per cent at the moment, whereas my mortgage rate is about 6.5 per cent. Which is the best option ...
2007-12-14 03:56:00 -
Bit player's woes weigh on Corzine
NorthJersey.com - For Corzine, Riccio is another example of how the generous use of his substantial wealth has brought unwanted media attention to matters he believes are private, such as his forgiving a $470,000 loan to Katz for a home mortgage. The Riccio issue ...
2007-12-16 05:31:00 -
THE HOUSE PAYS
Allentown Morning Call - Most importantly, says Susan Durdock, a reverse mortgage consultant for Wells Fargo Home Mortgage in Bethlehem Township, in the 1990s the federal government stepped in and put regulations on reverse mortgages. ''When they first came out, they weren't ...
2007-12-16 03:15:00 -
Diamonds aren't forever
News.com.au - Lyndsay Rogers, senior mortgage adviser for Aussie Home Loans, believes that making the decision to spend less on tying the knot and more on the purchase of a home is a wise move. "Rather than having an expensive ring on your finger you could buy a ...
2007-12-16 05:24:00 -
Get The Facts On The Sub-Prime Mortgage Meltdown
FOX News - Mortgages will be far harder to come by, down payments will go way up, home prices will continue to go down, and the money machine that was the $6.5 trillion mortgage industry will grind to a halt. That will hit the brokerage stocks, the banks, the ...
2007-12-16 03:58:00 -
Spending May Rise, Home Construction Fall: U.S. Economy Preview
Bloomberg - That gives the Fed less leeway to keep trimming interest rates as the housing and credit markets deteriorate, economists said ... Release Period Median Prior Indicator Date Forecast Value Current Account $Blns ...
2007-12-16 06:43:00 -
RPT-Wall St Week Ahead: Stocks eye housing and consumer data
Forbes - Last week, the U.S. stock market also was jolted by the Federal Reserve's latest cut in interest rates, which some players ... Monday will bring the latest reading on the quarterly current account deficit. A third-quarter deficit of $183.8 billion ...
2007-12-16 07:33:00 -
Fed Taking on Abusive Lending Practices
San Francisco Gate - ... also say people with mortgages that include such penalties often get a benefit of lower upfront costs or lower interest rates. Of ... rules are overdue and "needed to help eliminate the kinds of predatory lending practices that exacerbated the current ...
2007-12-16 07:33:00