Mortgage and Financial News From 2007-12-22 Page 5
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Madigan Sues Mortgage Rescue Companies
WBBM - Madigan urges homeowners who are unable to make their mortgage payments to contact lenders to work out a plan to avoid foreclosure. She says many lenders have set up special units to assist borrowers in trouble, the release said. In addition, the ...
2007-12-22 03:25:00 -
First-time home buyer numbers plunge to near 30-year low
Gulf Times - ... time average earnings of £28,590 in 2007 – is no longer a realistic option for many first-time buyers, many of whom will also be paying high levels of stamp duty.” The data is based on figures from the Halifax, the Council of Mortgage Lenders ...
2007-12-22 03:18:00 -
Ground rent law violates the principles of due process, fair play
Baltimore Sun - A central registry for ground-rent obligations will give title companies, mortgage lenders and homeowners a clear look at the landscape. Banning creation of new ground rents will stop their proliferation and clean up the closing process. Giving ...
2007-12-22 02:57:00 -
Lenders Failing To Pass On Rate Cuts (Daily Record)
ALMOST half of all mortgage lenders have failed to pass on recent interest rate cuts to borrowers.
2007-12-22 12:31:04 -
Hong Kong shares outlook - Lower after China's interest rate increase
Forbes - HONG KONG (Thomson Financial) - Hong Kong shares are expected to open lower Friday in listless trading following China's recent interest rate hike, its sixth for the year, as part of the mainland's efforts to curb inflation and cool its economy. The ...
2007-12-19 03:58:00 -
Philippine shares higher in early trade after interest rate cut
Forbes - MANILA (Thomson Financial) - Philippine shares were slightly higher in early trade Friday, with investors picking up select index issues after the central bank cut its key interest rates by 25 basis points in a bid to halt the peso's rise against the ...
2007-12-19 03:58:00 -
Spending surge in November tops estimates
Boston Globe - He said he still believed economic weakness would prompt further interest rate cuts by the Federal Reserve. An inflation gauge tied to spending that is closely followed by the Fed showed a 0.6 percent increase in November, the biggest jump in more ...
2007-12-22 01:31:00 -
Fed auctions $20 billion more
Dubuque Telegraph Herald - WASHINGTON (AP) -- The Federal Reserve, working to combat the effects of a severe credit crunch, announced Friday it had auctioned another $20 billion in funds to commercial banks at an interest rate of 4.67 percent. Fed officials pledged to continue ...
2007-12-22 01:38:00 -
China shares gain on bargain-hunting, shrug off interest rate hike
International Herald Tribune - SHANGHAI, China : Chinese stocks rose Friday, though property developers declined after the central bank announced an interest rate hike, the country's sixth for this year. The benchmark Shanghai Composite Index gained 1.2 percent, or 58.24 points ...
2007-12-21 02:55:00 -
Weekly Treasury Update
Gulf Times - The past week saw the British pound fall aga inst major currencies on firmed market expectations of an early interest rate cut in the UK. In the coming week, many major centres are closed for the initial part of the week, and data of note awaited ...
2007-12-22 03:18:00 -
New criteria for credit cards as default rate rises
Sri Lanka Sunday Times - A senior manager of the People's Bank told The Sunday Times FT that they offer a competitive low interest rate on credit cards. He said that they take every possible measure to manage the credit card business through a strict evaluation process ...
2007-12-22 11:58:00 -
Risk officers rule as banks feel the pinch
Times Online - Now, interest-rate differentials will widen as risk is priced more cautiously. And, at least for some time, there won’t be the stomach to commit capital to high-risk assets. With the major economies cooling, the risk in those assets – such as the ...
2007-12-22 03:33:00 -
Tortoise Energy Capital Corp. Completes $100 Million Senior Notes
MSN MoneyCentral - The Notes are due in seven years and bear a fixed interest rate of 6.07 percent. The proceeds will be used to redeem a portion of its Auction Rate Senior Notes. "The institutional investors represent a new source of long term financing for the ...
2007-12-22 08:52:00 -
Cheer up, things aren’t that bad
Times Online - Even the normally staid monetary policy committee (MPC) has warned that a “substantial loosening” – big interest-rate cuts – might be needed. David Owen, an economist with Dresdner Kleinwort, thinks that with the latest data there is now a 50 ...
2007-12-22 03:04:00 -
Bank expected to cut rate four times next year
Times Online - THE Bank of England is likely to slash interest rates four times next year in response to a sharp slowdown in growth, economists say. The first cut could come as early as next month, analysts believe, following the monetary policy committee’s ...
2007-12-22 03:04:00