Mortgage and Financial News From 2008-3-12 Page 21
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Why it's not too late to refinance (CNN Money)
Earlier this year, when mortgage rates dipped below 6% for the first time since 2005, homeowners rushed to refinance costlier loans. In fact, more than six out of 10 mortgage applications so far this year have been for refis.
2008-03-12 06:41:07 -
2nd employee is held in Société Générale trading scandal (International Herald Tribune)
The news that another employee at the French bank had been taken into custody came just days before a hearing before the Paris appeals court on Friday, where Jérôme Kerviel's lawyers will be seeking his release from jail while the investigation continues.
2008-03-12 06:45:51 -
Second SocGen Employee Held by Police in Kerviel Case (Update5) (Bloomberg.com)
The headquarters of France's second-biggest bank in La Defense, just outside Paris, were searched today by police, who took some documents, Societe Generale spokeswoman Laura Schalk said in an interview.
2008-03-12 08:18:29 -
Housing starts top expectations
Globe and Mail - ... recession in the U.S. residential housing sector, activity in the Canadian housing market will likely remain in fairly good shape through 2008 on account of the strong labour market conditions, record wage growth and favourable mortgage rates,” Mr.
2008-03-10 06:52:00 -
Chancellor to delay 2p rise in fuel duty for six months
Daily Mail - The Chancellor was set to point out that unemployment figures and mortgage rates are markedly lower than the last time the economy was facing trouble, 15 years ago.
2008-03-12 03:08:00 -
Dollar falls versus yen in Asia as players brush off US Fed's credit ...
CNBC - Europe Shares Set to Rise After Wall Street Rally Australia Consumer Sentiment Slumps as Rates Rise Oil Prices Hold Steady at ... its security lending program "may have given some short-term help, especially to financial institutions carrying mortgage ...
2008-03-11 11:40:00 -
Consumer confidence at 14½ year low
News.com.au - Gloom over the increases in interest rates has probably been compounded by additional mortgage rate increases by lenders and speculation that there is more to come," Mr Evans said in a statement today.
2008-03-11 10:50:00 -
Juvenile hall's bond costs jump
Inside Bay Area - ... Alameda County's payments for the year-old Juvenile Justice Center are skyrocketing as an indirect impact of the subprime mortgage crisis, according to County Administrator Susan Muranishi. A combination of fixed and floating interest rates on the ...
2008-03-12 02:39:00 -
Budget brings changes to stamp duty
MyFinances.co.uk - ... and key workers, by offering them up to half of the cost of their first property. Further, buyers will not be required to pay stamp duty will until they own 80 per cent of the equity in homes. Measures will also be taken to keep mortgage rates low ...
2008-03-12 06:21:00 -
FOREX-Dollar nears record low against euro
Forbes - ... on the divergent paths of European and U.S. interest rates. The greenback had rallied sharply the previous session after the Federal Reserve said it would lend primary dealers $200 billion in Treasury securities and accept a wider array of mortgage ...
2008-03-12 06:35:00 -
Former Loan Officer Spills the Beans at a Homeownership Site Building ...
PR.com - Over the course of the past year, Truthful Lending dot Com has grown into a library of articles on every mortgage topic you can think of, a place to check the weekly mortgage rates, a tool for calculating how soon you can get out of debt, and above ...
2008-03-11 11:47:00 -
Fed takes boldest action since the Depression to rescue US mortgage ...
Daily Telegraph - The Fed is still going to have to cut interest rates by 75 basis points next week," he said. It is a ground-breaking move for the Fed to accept mortgage collateral, even if the debt is theoretically 'AAA-grade' debt.
2008-03-11 11:12:00 -
Fed announces $200-billion securities swaps to help banks
Los Angeles Times - What's more, the turmoil helped push mortgage rates up sharply in February, after a decline that had pulled the average 30-year loan rate below 6% in January to the lowest since 2004.
2008-03-11 11:47:00 -
Fed Offers Lifeline for Spurned Debt
Wall Street Journal - The heavy selling is driving up mortgage interest rates, dealing a fresh blow to the flagging housing market, and threatening the nation's economy by making credit harder to come by.
2008-03-12 03:22:00 -
Freddie executives talk to investors
CNN Money - Its action brightened Fannie and Freddie's outlooks in terms of available funding. Freddie recently reported a widened loss of $2.5 billion in last year's fourth quarter as mortgage defaults mounted and falling interest rates hurt certain investments.
2008-03-12 03:29:00