Mortgage and Financial News From 2008-2-15
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Another small step - Bend Weekly
Another small stepBend Weekly, OR - 1 hour agoThat earlier plan called for lenders to freeze interest rates at current levels for some subprime loans. But The Wall Street Journal reported Wednesday that ...
2008-02-15 12:13:44 -
Affordable housing plan halted - Squamish Chief
Affordable housing plan haltedSquamish Chief, Canada - 1 hour agoBy using a model with a 40-year mortgage rate of 5.25 per cent, even townhouses were within reach for households making $52000 or less. ...
2008-02-15 12:27:38 -
HK stuck with negative rates - South China Morning Post (subscription)
HK stuck with negative ratesSouth China Morning Post (subscription), Hong Kong - 1 hour ago“Indeed, when the mortgage rate is at 2.75 per cent and the expected rate of increase in residential property prices is much higher, buying your own home or ...
2008-02-15 12:41:09 -
Struggling Japanese banks turn to JGBs for profits - Guardian Unlimited
Struggling Japanese banks turn to JGBs for profitsGuardian Unlimited, UK - 58 minutes agoWhen the Bank of Japan kept short-term interest rates pinned at virtually zero, the banks could borrow funds from the central bank for almost nothing and ...
2008-02-15 12:59:59 -
Bernanke, Paulson See Bleaker Outlook For US Economy - Free Internet Press
Bernanke, Paulson See Bleaker Outlook For US EconomyFree Internet Press, NY - 56 minutes agoThe Fed’s rate cuts have led to a more modest decline in mortgage rates for borrowers with good credit, but they have done little to ease the broader credit ...
2008-02-15 01:01:25 -
Birmingham-Hoover median home price drops, but not as much as nation's - The Birmingham News - al.com
Birmingham-Hoover median home price drops, but not as much as nation'sThe Birmingham News - al.com, AL - 33 minutes ago... was in the early 1980s, when records show that mortgage rates reached as high as 17 percent. He likened the current slowdown to one in the early 1990s. ...
2008-02-15 01:24:51 -
FBI, SEC investigations moving slowly - Monterey County Herald
FBI, SEC investigations moving slowlyMonterey County Herald, CA - 10 minutes agoThe Treasury Department pressed lenders to reset mortgage rates for millions of troubled homeowners. And New York's insurance regulator is attempting to ...
2008-02-15 01:47:27 -
Editorial: Half measures failing to solve mortgage crisis - San Jose Mercury News
Editorial: Half measures failing to solve mortgage crisisSan Jose Mercury News, USA - 9 minutes agoThe current Treasury-industry approach has fallen short. Both government and industry must do more to keep the mortgage mess from further damaging the ...
2008-02-15 01:48:00 -
Bernanke, Paulson See Bleaker Outlook For U.S. Economy (Free Internet Press)
With the credit markets once again deteriorating, the nationâ€s two top economic policy makers acknowledged Thursday that the outlook for the economy had worsened, as both came under criticism for being overtaken by events and failing to act boldly enough. In testimony to Congress, Ben S. Bernanke, the chairman of the U.S. Federal Reserve Bank, signaled that the Fed was ready to reduce interest ...
2008-02-15 12:56:21 -
Credit crisis seeps into bond auctions (Philly.com)
Every week, billions of dollars in variable-rate municipal bonds are offered at auction, where they usually attract lots of institutional investors who need quick access to their money.
2008-02-15 01:06:54 -
Fed official pessimistic on economy (Worcester Telegram & Gazette)
WASHINGTON - Using words like "sluggish" and "deteriorated," Federal Reserve Chairman Ben S. Bernanke gave a starkly pessimistic assessment of the nation's economy yesterday and signaled that the Fed will cut interest rate cuts further if needed to combat the adverse effects of a prolonged housing slump and a severe credit crisis.
2008-02-15 01:30:39 -
Frenchman rocks the world (Daily Northwestern)
Martin Luther King Day was a day of relaxation and rest for the student body. For the global financial markets however, it was a day of panic. The major global indexes were all down multiple percentage points. In a state of alarm, the Federal Reserve slashed key interests rates only to see the Dow plunge 300 points in the first hour of trading the next day.
2008-02-15 01:40:30 -
Lenders predict climate for student loans harsher (The Sarasota Herald-Tribune)
By ROBERT TOMSHO
2008-02-15 01:41:45 -
Bernanke offers bleak outlook but says recession isn't certain (The Sarasota Herald-Tribune)
Using words like "sluggish" and "deteriorated," Federal Reserve Chairman Ben Bernanke gave a starkly pessimistic assessment of the nation's economy on Thursday and signaled that the Fed would cut interest rate cuts further if needed to combat the adverse effects of a prolonged housing slump and a severe credit crunch.
2008-02-15 01:42:06 -
Federal Reserve chief says economy sluggish (The Monterey County Herald)
WASHINGTON — Using words like "sluggish" and "deteriorated," Federal Reserve Chairman Ben Bernanke gave a starkly pessimistic assessment of the nation's economy Thursday and signaled that the Fed will cut interest rates further if needed to combat the adverse effects of a prolonged housing slum
2008-02-15 01:52:59