Mortgage and Financial News From 2007-8-29 Page 13

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  • Talk of the bay: Confidence hard to come by amid housing woes

    St. Petersburg Times - UF blamed housing, particularly the latest tightening of mortgage credit, for reducing the sense of well-being. It wasn't all bad: The university pointed out that inflation is low and gas prices have fallen. The random August survey took in 508 ...
    2007-08-29 04:06:00

  • Wall St set for firm start after Tuesday's drop

    Reuters - ... sharp losses in the previous session on mounting concerns that the U.S. mortgage ... while Merrill Lynch (MER.N: Quote , Profile , Research ) warned that ailing credit ... With markets so volatile, any bad news on this side could give markets another ...
    2007-08-29 11:30:00

  • Shaken confidence, bank worries bring biggest fall in 3 weeks

    St. Louis Post-Dispatch - The mortgage insurer drew down an $80 million credit line to pre-empt cash shortages as U.S. home loan defaults rise. MGIC Investment Corp. , the largest U.S. mortgage insurer, dropped $2.62 to $32.29, the lowest since March 2000. Tenet Healthcare ...
    2007-08-29 08:10:00

  • World stock markets on edge amid credit worries

    Raw Story - Stock markets had pushed lower Tuesday amid a double whammy of bad economic news from ... had posted healthy gains after central banks stepped up their actions to keep credit flowing amid fears of a widening crisis caused by subprime US mortgage loans.
    2007-08-29 11:08:00

  • Global Credit Crunch Will Dent London's Economy: Matthew Lynn

    Bloomberg - That can only be bad for London. The market for credit derivatives will surely slow down. After all the volatility and closures of the last month, the hedge funds won't find it so easy to raise money. Some London- based firms are already ...
    2007-08-28 12:54:00

  • Ahead of the Bell: Washington Mutual

    CNBC - ... and earnings estimates for Washington Mutual Inc. on Wednesday, saying he expects bad credit to ... Stung by decaying credit quality, investors stopped buying many kinds of mortgage loans earlier this year. While Washington Mutual has the flexibility ...
    2007-08-29 12:06:00

  • Canadian bank credit fears not quite as bad as investors expected (CP via Yahoo! Canada News)

    TORONTO (CP) - Early investor fears that Canada's six big banks would be punished by credit woes south of the border were somewhat calmed on Wednesday as the last of them issued some form of detailed comment on whether they'd see any direct impact.
    2007-08-28 09:57:00

  • What Will Fix the Mortgage Mess? (BusinessWeek Online via Yahoo! News)

    With the credit markets in turmoil and housing prices tumbling, people from Wall Street to Main Street are wondering what can and should be done to minimize the damage to the broader economy. Should the Federal Reserve do more to bring confidence back to the markets? Should state legislatures take action to prevent a wave of local foreclosures? One of the most radical proposals came from Bill ...
    2007-08-29 12:08:41

  • Singapore shares close lower after Wall St slumps UPDATE

    CNBC - Even if it cuts rates, this does not mean that the current volatility ends. In fact there could be fresh rounds of selling later on as the ... While Singapore banks say they have minimal exposure to the US subprime mortgage market, Jarhom believes ...
    2007-08-29 10:11:00

  • Income up fewer of us in poverty

    MSNBC - Incomes are rising and poverty rates falling ... the numbers in the three suburbs (a current total of just over 14,000 people in poverty) are much smaller than the combined total for Minneapolis and St.
    2007-08-29 07:41:00

  • Cheyne May Liquidate Commercial Paper Plan, S&P Says (Update2)

    Bloomberg - ... Plc, the U.K's largest mortgage lender, said last week that it would step in to repay about $35 billion of commercial paper owed by its Grampian Funding LLC unit as contagion from the subprime slump drove up the cost of borrowing. ``Current ...
    2007-08-28 12:54:00

  • What Will Fix the Mortgage Mess?

    BusinessWeek - ... floated are better suited for grabbing headlines than for rectifying the current ... Then there are those who think government-sponsored mortgage buyers Fannie Mae ( FNM ... The Federal Reserve can certainly make a difference by lowering interest rates ...
    2007-08-28 12:54:00

  • Local poverty rates soaring

    Rockford Register-Star - Poverty rates Poverty rates defined as the percentage of individuals in households with annual income at or below the poverty guidelines. ... After the mortgage, taxes, heating, electric ...
    2007-08-29 05:25:00

  • Lenders getting creative Agents find new ways to help buyers afford ...

    Inside Bay Area - The first loan pays up to the $417,000 limit and usually comes at the lowest interest rates available. The second mortgage, which has a ... 60,000 at current median prices — the seller of a home will agree to carry part of the financing burden by ...
    2007-08-29 09:35:00

  • US Dollar: Risk Aversion Returns as Stocks Fall Over 280 Points, Fed Needs to Cut Rates (Forex Capital Markets via Yahoo!7 Finance)

    - US Dollar: Risk Aversion Returns as Stocks Fall Over 280 Points, Fed Needs to Cut Rates- Carry Trades: More Losses to Come- European Banks Still at RiskUS Dollar: Risk Aversion Returns as Stocks Fall Over 280 Points, Fed Needs to Cut RatesWhat happened to summer range trading? On Friday and Monday, everyone talked about how the markets would be completely dead with many UK and US traders ...
    2007-08-28 11:43:10

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