Mortgage and Financial News From 2007-12-6 Page 6
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President Bush announces rate freeze for struggling homeowners (KARE 11 Minneapolis-St. Paul)
After a long year of record foreclosures has homeowners worried and spending less - and some economists predict the housing slump could be
2007-12-06 08:00:28 -
Toyota Leads in Loyalty (BusinessWeek)
Toyota and its Lexus luxury division finished first and second in J.D. Power's annual customer retention study
2007-12-06 08:47:54 -
High-End CE Sales Online, Part 2: New Shopping Tools and Trends (E-Commerce Times)
Industry experts and economists expect a reasonably good holiday retail sales season this year despite an economy struggling with higher oil and import prices, decreasing home values and the after-effects of mortgage market problems. Online holiday sales, in particular, should do pretty well, though the outlook is more clouded for sales of high-end consumer electronics products, as Part 1 of ...
2007-12-06 05:07:08 -
The Anatomy of Financial Crises: Understanding Their Causes and Consequences (Knowledge at Wharton)
Crises have been a feature of the financial landscape for hundreds of years. They often appear with little warning, as the sub-prime mortgage crisis of 2007 and the Asian crisis of 1997-1998 illustrate. It's not always clear what causes crises, whether they can be avoided and how their impact can be reduced. A recent book, titled Understanding Financial Crises (Oxford University Press), by ...
2007-12-06 12:24:19 -
Analysis: New Mortgage Plan Not Perfect
Guardian Unlimited - WASHINGTON (AP) - 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 ...
2007-12-06 07:33:00 -
Interest rates tipped to exceed 9 per cent
News.com.au - HOME buyers have been warned to brace for more mortgage pain in 2008, with interest rates tipped to rise to 9.1 per cent or more, The Australian reports. According to the newspaper, the South Australian Centre for Economic Studies expects the Reserve ...
2007-12-06 08:31:00 -
TheStreet.com TV Recap: Seeing More Clearly on CDOs
Street.Com - However, now people know that home-equity loans issued and purchased by Novastar ( NFI - Cramer's Take - Stockpickr ), Fremont General ( FMT - Cramer's Take - Stockpickr ), New Century Financial , American Home Mortgage and perhaps Washington Mutual ( WM - Cramer's ...
2007-12-06 12:45:00 -
Home prices down, mortgage troubles up locally
Seattle Post Intelligencer - Seattle area home sellers appear to be cutting prices as an increasing number of homes continue to compete for a shrinking buyer pool, according to statistics released Thursday. Meanwhile, Washington's rate of troubled mortgages increased in the ...
2007-12-06 01:14:00 -
US STOCKS-Wall St flies on mortgage plan; Dow up 174.93 points
Reuters - NEW YORK, Dec 6 (Reuters) - U.S. 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 ...
2007-12-06 03:44:00 -
Stocks surge on home rescue plan
Globe and Mail - A plan to help some U.S. mortgage borrowers facing huge increases in interest rates helped send stock markets sharply higher for a second day Thursday. The Toronto stock got extra lift from energy stocks amid sharply higher oil prices, which helped ...
2007-12-06 03:37:00 -
Does the Housing Plan Go Far Enough?
BusinessWeek - This will allow us to move through the cases much faster," says Michael Heid, co-president of Wells Fargo Home Mortgage ( WFC ). The plan's details raised as many questions as they answered. Chief among them: Given those restrictions, just how many ...
2007-12-06 03:30:00 -
Critics slam Bush's mortgage plan
News.com.au - A SENIOR manager at the world's biggest bond fund criticized a federal mortgage rescue plan as short-sighted and said US home prices may not hit bottom until 2010. US home prices may fall as much as 30 per cent from the market's peak in some areas ...
2007-12-06 05:53:00 -
Home Mortgage Expert Comments on President's Announcement
Forbes - Colleen Hernandez, President and Executive Director, of the Homeownership Preservation Foundation, the national non-profit organization that operates (888) 995-HOPE to assist troubled homeowners, today issued the following statement in response to ...
2007-12-06 12:38:00 -
Fed's Kroszner: More mortgage delinquencies ahead (Boston Globe)
WASHINGTON - More mortgage delinquencies lie ahead and the U.S. home loan industry should act to help distressed borrowers avoid foreclosure, Federal Reserve Governor Randall Kroszner warned Congress Thursday.
2007-12-06 08:36:45 -
Mortgage crisis hits home (WAVY 10)
The mortgage crisis in Hampton Roads is expected to get even worse before it gets better. "The foreclosure rate is up in Hampton Roads, just like it is in the rest of the country," said Portsmouth Attorney, Robert Barclay, IV.
2007-12-06 04:12:32
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