Mortgage and Financial News From 2007-12-6 Page 7

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  • Paulson: No 'Silver Bullet' in Bid to Ease Mortgage Crisis (The Online NewsHour)

    As home foreclosures reached a record high Thursday, President Bush announced a deal with mortgage lenders to freeze interest rates on some subprime mortgages due to move sharply higher soon. After Treasury Secretary Henry Paulson discusses the details of the proposal, analysts assess the value of the proposal and U.S. subprime troubles.
    2007-12-06 05:39:38

  • 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. Washington's rate of troubled mortgages increased in the third quarter.
    2007-12-06 12:06:04

  • Mortgage foreclosures reach record high (Reuters via Yahoo! News)

    Home foreclosures and the rate of homes entering the foreclosure process rose to a record in the third quarter, as homeowners battled slumping house prices and spiking loan payments, the Mortgage Bankers Association said on Thursday.
    2007-12-06 09:04:47

  • Mortgage foreclosures set record as Bush plan unveiled (Reuters via Yahoo! News)

    U.S. home foreclosures as well as the rate of homes entering the foreclosure process rose to a record in the third quarter, as homeowners battled slumping house prices and spiking loan payments, the Mortgage Bankers Association said on Thursday.
    2007-12-06 01:22:49

  • FOREX-Euro rises after Trichet comments on inflation, rates

    Reuters - ... European Central Bank left interest rates ... raising the benchmark interest rate from its current 4 percent level, adding further strength to the euro. Before the ECB's rate decision, financial markets expected the bank would not raise rates at all ...
    2007-12-06 11:20:00

  • Vital Signs: How Low Will the Fed Go?

    BusinessWeek - When the Federal Reserve lowered interest rates at the end of October, many investors didn't think the central bank was finished cutting. Even after Federal Reserve Governor Randall Kroszner said on Nov. 16 that "current stance of monetary policy ...
    2007-12-06 03:52:00

  • Bush takes steps to solve loan crisis

    Christian Science Monitor - Under the plan announced by Bush, many borrowers who face an upward reset in their interest rate will be allowed to keep their current mortgage payments for a five-year grace period. Since the initial interest rates are sometimes ...
    2007-12-06 01:28:00

  • One interest rate cut will not help house prices

    Daily Telegraph - ... the chief executive of housebuilder Bellway, said that today's 0.25pc interest rate ... societies will do. It doesn't necessarily follow that they will cut rates." ... Mr Watson said that the current downturn in the housing market was "a process we ...
    2007-12-06 02:40:00

  • Fitch Rates Quechan Tribe's Governmental Obligation Bonds & Issuer ...

    Forbes - Fitch Rates Quechan Tribe's Governmental Obligation Bonds & Issuer Rating 'BB-' 12.06.07, 5 ... Based on fiscal 2008 projected gaming enterprise earnings before interest, taxes, depreciation and amortization (EBITDA) at the current facilities, and pro ...
    2007-12-06 02:18:00

  • Bank must cut interest rates at once

    Daily Telegraph - ... indicated in its quarterly inflation report last month that it expected to make two, perhaps three, cuts in interest rates ... economist will tell you that the divergence between BoE rates and inter-bank rates is because the current BoE rates are too LOW
    2007-12-06 02:40:00

  • UK rate cut opens up gulf with ECB

    MSN MoneyCentral - He said that the ECB had not jettisoned completely plans to raise interest rates from the current 4 per cent level, arguing after a meeting of the ECB's governing council that "some" members had favoured such a move. The departure from the usual ...
    2007-12-06 12:38:00

  • ECB holds rates but some policymakers backed rise

    Guardian Unlimited - The ECB had steadily raised interest rates from a low of 2 percent in December 2005, reaching the current 4 percent in June this year. However, a crunch on credit markets caused by the U.S. subprime mortgage crisis forced it to put further moves on ...
    2007-12-06 09:32:00

  • White House freeze on rates

    News.com.au - The plan brokered by US Treasury officials with major industry participants would help struggling homeowners re-finance sub-prime adjustable-rate loans or freeze the current interest rates for five years, Bush said. The program was unveiled amid ...
    2007-12-06 02:04:00

  • Building materials stocks climb with US interest rate relief

    News.com.au - As part of the US deal, US Treasury officials with major industry participants would help struggling homeowners refinance sub-prime adjustable-rate loans or freeze the current interest rates for five years, Mr Bush said. The program was unveiled amid ...
    2007-12-06 07:26:00

  • Bush mortgage plan will freeze certain subprime interest rates for five years (The Fort Collins Coloradoan)

    WASHINGTON — The Bush administration has hammered out an agreement to freeze interest rates for certain subprime mortgages for five years to combat a soaring tide of foreclosures, congressional aides said Wednesday.
    2007-12-06 04:24:16

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