Mortgage and Financial News From 2007-12-6 Page 17

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  • Trichet Threatens to Raise Rates as Inflation Soars (Update2)

    Bloomberg - ... Central Bank President Jean- Claude Trichet threatened to raise interest rates if ... At the same time, the collapse of the U.S. subprime mortgage market made banks ... Bank of England Cuts Key Rate to 5.5% on Credit Costs, Falling Home Prices ...
    2007-12-06 07:52:00

  • White House agrees with mortgage industry to freeze rates

    Globe and Mail - Don Portz from Trochu AB, Canada writes: Thie appears to be a reasonable manner to deal with this problem. While there is no total fix to this or any financial problem but it will help those who sincerely wish to retain their home and not lose it ...
    2007-12-06 08:42:00

  • UPDATE 2-Freezing US subprime rates may hurt ratings - S&P

    Reuters - Fewer foreclosures would also help the economy, stabilizing the housing supply and tempering home price declines, it said. Another agency, Fitch Ratings, said the federal subprime plan may help stabilize mortgage default rates and help trim ...
    2007-12-06 11:55:00

  • Countrywide, NovaStar, MGIC Rise on Subprime Freeze (Update1)

    Bloomberg - Dec. 6 (Bloomberg) -- Countrywide Financial Corp., the biggest U.S. mortgage lender, rose as much as 15 percent as the U.S. government announced a freeze on some subprime mortgage rates. NovaStar Financial Inc., the Missouri home lender that's trying ...
    2007-12-06 12:17:00

  • New mortgage plan is not perfect

    Houston Chronicle - WASHINGTON — President Bush acknowledges it's "no perfect solution." Treasury Secretary Henry Paulson says it's "no silver bullet." The plan negotiated by the Bush administration to freeze the low introductory rates on subprime home loans appears ...
    2007-12-06 02:33:00

  • Countrywide Wants to Help Dispel Home Buying Myths

    Forbes - ... It's not hard to have questions about today's real estate market -- especially if you're the one considering purchasing your first home or making a move. With all the recent news reports about mortgage lending options, refinancing and interest rates ...
    2007-12-06 12:10:00

  • Subprime plan may help stabilize defaults-Fitch

    Reuters - NEW YORK, Dec 6 (Reuters) - A plan by the Bush administration aimed at slowing a wave of home foreclosures may help stabilize mortgage default rates, Fitch Ratings said on Thursday. The plan may also help reduce the risk of downgrades of highly rated ...
    2007-12-06 11:41:00

  • Interest cut boosts the mortgage payers

    Times Online - The rate cut came as it emerged that a growing number of lenders are charging punitively high set-up fees to start or renegotiate a mortgage in an attempt to claw back money lost by offering competitive headline home-loan rates. The Bank’s quarter ...
    2007-12-06 12:24:00

  • Mortgage foreclosures set record as Bush plan unveiled

    Washington Post - The program would freeze low teaser mortgage rates for five years for some of the 2 million home owners with adjustable-rate loans facing sharply higher payments, helping them avert default, according to the administration. About 994,000 U.S ...
    2007-12-06 01:36:00

  • UPDATE 3-Mortgage foreclosures set record as Bush plan unveiled

    Reuters - The program would freeze low teaser mortgage rates for five years for some of the 2 million home owners with adjustable-rate loans facing sharply higher payments, helping them avert default, according to the administration. For details, see ...
    2007-12-06 01:50:00

  • Mortgage plan, oil stocks boost Wall St

    Washington Post - NEW YORK (Reuters) - Stocks extended gains on Thursday as the unveiling of a plan to stem home foreclosures eased fears about the economy's outlook and a rebound in crude oil prices drove up such stocks as Exxon Mobil Corp (XOM.N). The Dow Jones ...
    2007-12-06 12:24:00

  • Wall Street flies on mortgage plan

    MSN MoneyCentral - NEW YORK (Reuters) - Stocks surged on Thursday on optimism that a plan announced by President George W. Bush to stem U.S. home foreclosures would keep the economy from sliding into a recession. Bush said as many as 1.2 million homeowners could ...
    2007-12-06 02:33:00

  • Mortgage rescue will freeze rates (Rochester Democrat and Chronicle)

    The Bush administration has gotten lenders to agree to freeze interest rates on some subprime home mortgages for five years to hold back a rising tide of foreclosures, congressional aides said Wednesday.
    2007-12-06 12:42:23

  • Bush to freeze portion of home rates (Arizona Daily Sun)

    WASHINGTON -- One wag has called it the "teaser freezer." But whatever the name, it is going to mean relief for thousands of homeowners facing a painful jump in their mortgage rates in coming months.
    2007-12-06 07:44:10

  • Mortgage rates to head past 9pc: economist (Australian Broadcasting Corporation)

    There are warnings this morning that home loan interest rates in Australia could head above 9 per cent.
    2007-12-06 01:44:37

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