Mortgage and Financial News From 2007-10-22
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Respite's over (Asia Times)
COMMENTARY The autumn respite from summer Credit tumult has run its course. Global central bankers may have succeeded at least temporarily in their aggressive liquidity operations. This liquidity, however, has characteristically avoided post-Bubble risky mortgages and mortgage-related derivatives.
2007-10-22 04:38:55 -
Q&A: What's troubling the markets?
BBC News - ... sub-prime lending sector, where many low-income borrowers have defaulted on their payments because of high interest rates. Mortgage ... But economists say it is only a matter of time before retailers are affected, as households, already struggling ...
2007-10-22 03:19:00 -
Inflation and U.S. foreclosures makes two-year Treasury notes ...
International Herald Tribune - ... reminiscent of 2001, when the Federal Reserve began cutting its target interest rate ... About the only fixed-income investments that have performed better are shorter ... The so-called agency bonds of the mortgage finance providers Fannie Mae and Freddie ...
2007-10-22 12:48:00 -
America's Missing Cukes!
Slate - They only think their blogs are important enough to censor! ... 1:39 P.M. ... economist/blogger Tyler Cowen said he didn't think the subprime mortgage crisis was ... her TV job when Telemundo assigns her to Riverside to avoid a conflict of interest ...
2007-10-22 02:36:00 -
Zacks Analyst Blog Highlights: Avici Systems, Grupo Aeroportuario and ...
Forbes - Federal Reserve began to cut interest rates some weeks ago, oil has been ... less positive economic environment in the U.S. as a result of the sub-prime mortgage ... most bullish forecast for LAR sales in 2011 north of $1 billion, we still only ...
2007-10-22 03:04:00 -
Harry Gross | It's possible we owe a debt of thanks to gov't for ...
Philadelphia Daily News - ... long-term debt to buy short-term assets (for example, a second mortgage to buy an expensive car).Let me once again repeat my motto that financial success can be achieved only ... The interest rates on these debts are often unconscionable. I then ...
2007-10-22 03:19:00 -
Flowers Sallie Mae Failure Proves He's No Schwarzman (Update1)
Bloomberg - Even as Flowers considers a bid for U.K. mortgage lender Northern Rock Plc, his ... The Flowers group isn't the only buyer to walk away from an agreement. Kohlberg ... Chris has been an extraordinary investor and that he's fighting for their interest ...
2007-10-22 03:33:00 -
Tax moves may ease mortgage crunch
Contra Costa Times - When their mortgage interest increased by $6,000 per year, this couple probably reduced their ... What started out as an out-pocket-interest cost of $500 per month has now reduced take-home pay by only $330. Decreasing the withholding tax added $270 ...
2007-10-22 02:57:00 -
John Baer | Are our electeds going crazy?
Philadelphia Daily News - The only hint of hope came as curmudgeonly Rep. Bud George, D-Clearfield County, got so PO'd during ... Do any of these electeds really believe folks who need health care or a mortgage or a job are served by or have interest in empty resolutions, Rush ...
2007-10-22 03:12:00 -
Homeowners saving less as rate rises bite
Reuters UK - LONDON (Reuters) - Homeowners are feeling the pinch following five interest rate hikes, cutting ... are saving 3.1 percent of their incomes, up 2.1 percent on the first quarter, but still only half the 10-year average of 6 percent. Those with mortgage ...
2007-10-22 03:40:00 -
Buyers Pounce on Deals as Homes Go on the Block
New York Times - Representatives from two big lenders that have been hit hard by the collapse of the subprime mortgage market, Countrywide Financial and Bear Stearns , were on hand to provide mortgages — fixed, adjustable, jumbo or interest-only. Both have been ...
2007-10-22 03:26:00 -
News, Trends & Resources (BizJournals)
Walker & Dunlop secures $14M loan to buy Springfield building Walker & Dunlop has negotiated a $14 million acquisition loan for a Department of Commerce building in Springfield. The loan was structured with a 10-year term, four years of which are an interest-only loan with 30-year amortization.
2007-10-21 09:35:36 -
Tax moves may ease mortgage crunch (Contra Costa Times)
If you read the newspapers, it looks like all hell is about to break loose when so many mortgages reset at higher interest rates this month. A recent news account cited the couple in Sacramento whose mortgage on a $250,000 house was about to rise from $1,400 a month to about $1,900 when it resets.
2007-10-22 03:14:52 -
China's Stocks Decline on Rate Concern; ICBC, Vanke Slide
Bloomberg - Higher interest rates curb banks' lending operations and deter home purchases because of higher mortgage repayments. The central bank raised interest rates five times this year, pushing the benchmark one-year lending rate to a nine-year ...
2007-10-20 05:54:00 -
No easy fix for housing mess
Chicago Sun-Times - The stated purpose of this SMLEC is to "bring liquidity back to the mortgage market ... Falling home prices mean that many homes will no longer appraise for the amount ... Economist Peter Morici suggests that the Fed should lower interest rates to give ...
2007-10-22 01:53:00