Mortgage and Financial News From 2007-12-6 Page 14

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  • Bush announces plan to help struggling homeowners

    Xinhua News Agency - ... high in the third quarter. The percentage of all mortgages that started the foreclosure process in the July-to-September period increased to a record 0.78percent, surpassing the previous record of 0.65 percent of all mortgages in the second ...
    2007-12-06 01:50:00

  • Foreclosures hit record high in 3Q

    Chicago Tribune - The delinquency rate for all mortgages climbed to 5.59 percent in the third quarter. That was up from 5.12 percent in the second quarter and was the highest since 1986, the association said. Payments are considered delinquent if they are 30 or more ...
    2007-12-06 03:37:00

  • Brazil Real Rises as Subprime Accord Renews High Yield Demand

    Bloomberg - In the U.S., stocks climbed for a second day, led by financial shares, on optimism an agreement to limit losses in subprime mortgages will improve the financial health of banks. President George W. Bush announced the accord to freeze ...
    2007-12-06 11:55:00

  • Markets up on hope for housing

    Chicago Sun-Times - The fallout from the crisis has weighed on the financial services sector this year, with banks and brokerages writing down some $80 billion worth of securities tied to mortgages. Royal Bank of Scotland Group PLC, the U.K.’s second-biggest bank ...
    2007-12-06 11:41:00

  • Bush Sends Letter to N. Korean Leader

    Los Angeles Times - The Xinhua News Agency reported that Hu pointed out that the starting action of the relevant joint declaration has been implemented, and the second phase has started. Hu said all parties should keep the dialogue going to meet the target of ...
    2007-12-06 10:08:00

  • Bush unveils 5-year subprime mortgage-rate freeze

    Seattle Times - That topped the mark of 0.65 percent of all mortgages in the second quarter. The administration's effort is aimed at stemming a further wave of foreclosures in coming years as 2 million subprime mortgages — loans provided to borrowers with spotty ...
    2007-12-06 11:05:00

  • Stocks up on growing hopes for rate cut

    Seattle Post Intelligencer - The fallout from the crisis has weighed on the financial services sector this year, with banks and brokerages writing down some $80 billion worth of securities tied to mortgages. Royal Bank of Scotland Group PLC, the U.K.'s second-biggest bank, on ...
    2007-12-06 01:07:00

  • U.S. to Destroy New Orleans Housing While Poor Sleep in Tents

    Bloomberg - So billions have been poured into financing to stretch inadequate insurance payouts, like ``soft'' second mortgages that become grants. And these programs have worked. Neighborhoods of mostly owner-occupants are swarming with contractors completing ...
    2007-12-06 07:45:00

  • Sector glance: Homebuilders surge

    CNBC - The percentage of all mortgages that started the foreclosure process in the third quarter jumped to a record 0.78 percent, surpassing the previous record of 0.65 percent of all mortgages in the second quarter. In company news, luxury builder Toll ...
    2007-12-06 01:28:00

  • Mortgage plan only a small first step

    Marketwatch - Everyone with ARMs, or interest-only payments, or negative amortizations, or second mortgages, risks losing their homes. The Paulson-Bush plan doesn't do anything to reduce their risk, but maybe it provides a template for solving that problem ...
    2007-12-06 02:18:00

  • Bush unveils plan to help borrowers

    MSNBC - The Mortgage Bankers Association reported that the percentage of all mortgages that started the foreclosure process in the third quarter jumped to a record 0.78 percent, surpassing the previous record of 0.65 percent of all mortgages in the second ...
    2007-12-06 03:37:00

  • US SWAPS-Spreads narrow as risk appetite improves

    Reuters - NEW YORK, Dec 6 (Reuters) - U.S. interest rate swap spreads mostly narrowed on Thursday, as risk appetite improved on hopes that a federal relief plan for problem mortgages would soothe a jittery credit market. For a second day, investors shifted ...
    2007-12-06 03:23:00

  • Bush Set to Announce Help on Mortgages

    Los Angeles Times - The Mortgage Bankers Association reported that the percentage of all mortgages that started the foreclosure process in the third quarter jumped to a record 0.78 percent, surpassing the previous record of 0.65 percent of all mortgages in the second ...
    2007-12-06 10:22:00

  • Bush Pledges Subprime Mortgage Aid (Time Magazine)

    Hundreds of thousands of strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on their rising subprime mortgages
    2007-12-06 11:49:07

  • Stocks jump on mortgage plan, growing hopes of rate cut (USA Today)

    Stocks rallied Thursday as investors, while unimpressed by sluggish retail sales, bet that companies hurt by the housing crisis will benefit from a government plan to help homeowners with their mortgages and another possible interest rate cut .
    2007-12-06 02:05:06

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