Mortgage and Financial News From 2008-8-2 Page 3
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Cautious tone irks lenders - Financial Times
Sir James Crosby’s reluctance to offer immediate solutions in his report on Tuesday was bemoaned by housebuilders and lenders, though politicians welcomed his cautious approach. Vincent Cable, Treasury spokesman for the Liberal Democrats, agreed it ...
2008-07-28 05:56:00 -
Franken outlines plan for homeowners headed for crisis - Minneapolis Star Tribune
U.S. Senate candidate Al Franken praised Congress on Saturday for passing a housing bill aimed at stemming the mortgage crisis, but called for additional measures to ease the plight of homeowners.
2008-08-02 05:22:00 -
An upturn could be two years away - Times Online
The bleakest aspect of Sir James Crosby’s report on the mortgage market is what it doesn’t say. He has produced hardly any ideas for ending the crisis. Mind you, there were ominous clues to his thinking in his initial exchange with the chancellor ...
2008-08-02 06:05:00 -
Northern Rock: 20pc of its customers face negative equity - Daily Telegraph
Northern Rock, the state-owned bank, will reveal this week that roughly one in five of its mortgage customers faces negative equity next year as it unveils a heavy loss for the six months to June. About 5 per cent of the nationalised lender's ...
2008-08-02 03:56:00 -
Meet Fannie Mae, Freddie Mac in the recovery room - Daily Oklahoman
License, registration please New housing law means work for brokers, lenders Congress chartered the Federal National Mortgage Association — known by the nickname Fannie Mae — in 1938 to issue bonds and use the proceeds to buy mortgages from ...
2008-08-02 01:58:00 -
How To Sell Your Home in 5 Days by Bill Effros(Workman, $15.95) (The Memphis Flyer)
Nobody wants to get stuck with the dead weight that is a house that won't sell. The vagaries of the market coupled with the pressures of getting on to your next living arrangement can be enough to send your blood pressure shooting.
2008-08-02 09:35:52 -
Crunch tightens its grip on the economy (Sunday Business Post)
The effects of the banks’ reluctance to lend money can be felt throughout the economy as businesses try to go about their day-to-day affairs with less cash flow.
2008-08-02 04:15:33 -
Where’s the kitchen! (The Providence Journal)
It didn’t take long to figure out that something had gone terribly wrong at the house on Sugarbush Trail in North Kingstown.
2008-08-02 04:37:44 -
REAL ESTATE: Downturn has led to surge in bankruptcies (North County Times)
Business bankruptcies in San Diego County have doubled from a year ago as the housing downturn has depleted real estate companies' assets.
2008-08-02 04:40:56 -
Weekly Treasury Update - Gulf Times
The week was marked by signals of a reversal in the fortunes of the battered US dollar on bits of heartening US economic data and as signs of the credit crisis affecting the eurozone and Australia began to appear. Markets await the US Federal Open ...
2008-08-02 02:37:00 -
Interest rates will fall - News.com.au
INTEREST rates are finally coming down. At its monthly meeting on Tuesday, the Reserve Bank board will consider cutting the official rate. But because it doesn't want to shock the market - the general expectation is for a cut later in the year - it ...
2008-07-31 04:20:00 -
Calls for RBA, banks to lower rates - Australian Broadcasting Corp.
There are calls for the Reserve Bank of Australia (RBA) to cut interest rates next week although economists expect it to leave them on hold. The TD Securities Melbourne Institute Monthly Inflation Gauge has slowed, while the Australian Industry Group ...
2008-08-01 12:34:00 -
Headline rates hit magnificent seven, but shop around - Daily Telegraph
The Bank of England Monetary Policy Committee kept rates on hold this month, leaving the base rate at 5 per cent, but that has not stopped a number of offshore building societies and converted mutuals offering higher rates to tempt savers onto their ...
2008-07-31 03:30:00 -
King turned down 30% pay rise at Bank | Business | The ... - Guardian Unlimited
The Bank of England's governor, Mervyn King, rejected a pay rise of more than £100,000 when he was re-appointed to the job earlier this year.
2008-07-31 05:10:00 -
Three Key strategies for change (Stuff)
John Key has a bottomless amiability. But when we ask him to try out for size Prime Minister Helen Clark's seat in parliament's debating chamber for a photo, he demurs. He murmers something about not wanting to look like he's taking anything for granted.
2008-08-02 02:09:04