Mortgage and Financial News From 2008-2-21 Page 2

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  • Interest rates to rise, growth to slow: economists

    Australian Broadcasting Corp. - To achieve this, Mr Edwards thinks that the Reserve will raise official interest rates to at least 7.5 per cent, half a per cent higher than the current level.
    2008-02-21 02:35:00

  • Brave New Economy

    Wall Street Journal - These huge surpluses provided the global financial system with the excess liquidity that funded America's burgeoning current-account deficit and depressed bond yields four years ago. The decline of long-term interest rates encouraged America's ...
    2008-02-21 07:21:00

  • Tower's owner bucks trend, seeks sale

    Boston Globe - ... not comment, but their broker, Rob Griffin, president of Cushman & Wakefield of Massachusetts Inc., said the current conventional wisdom is wrong. "Although pricing is off a bit from what it was, it's still high, with historically low interest rates ...
    2008-02-21 09:08:00

  • JGBs rise as equities slump on US recession worry

    Forbes - Market expectations that the Bank of Japan is unlikely to raise interest rates this year have lent support to JGBs, but market players also do not see a very high probability of the BOJ lowering interest rates from the current 0.50 percent.
    2008-02-21 10:48:00

  • JGBs rise as equities slump on US recession worry (Reuters via Yahoo! Malaysia News)

    TOKYO, Feb 22 - Japanese government bonds rebounded on Friday as Tokyo shares fell after weak U.S. data reinforced worries that the U.S. economy may fall into recession, bolstering safe-haven demand for government debt.
    2008-02-21 10:37:32

  • Governor brings back old ideas (Northwest Herald)

    SPRINGFIELD – With state government awash in red ink, Gov. Rod Blagojevich on Wednesday proposed a series of old ideas to piece together a budget that would include a one-time tax credit to Illinois families and businesses.
    2008-02-21 10:43:37

  • Strong Aussie dollar strangling company profits (ABC via Yahoo!7 News)

    Many companies are blaming a high Australian dollar for reducing profits in the first half of the financial year.
    2008-02-21 10:48:00

  • The U.S financial system, the debt bubble and the cancer of excessive deregulation (Online Journal)

    "It's . . . poetic justice, in that the people that brewed this toxic Kool-Aid found themselves drinking a lot of it in the end." --Warren Buffett, American investor
    2008-02-21 10:48:28

  • South Africa: Manuel Blames 'Speculation' for Rand's Wobble (AllAfrica.com)

    Rand weakness on budget day this week was due to "very heavy speculative attacks" on the currency rather than the announcement that foreign exchange controls were to be relaxed, Finance Minister Trevor Manuel told Parliament yesterday.
    2008-02-21 10:59:26

  • Those scary-sounding housing stats don't tell whole story

    Nashua Telegraph - ... which include significant jumps in the numbers of foreclosures and overdue mortgage ... mortgageless because they were renters; another 26 million owned their own home ... If you won't be able to afford those payments, contact your lender as soon as ...
    2008-02-21 09:01:00

  • Mortgage lending lift in January

    BBC Business - Home buyers might be more inclined to transact if their moving costs were reduced and the government has the ... The Halifax, the UK's biggest mortgage lender, said annual house price inflation was 4.5% in January, down from the previous month ...
    2008-02-20 02:11:00

  • Mortgage crisis: Don't forgive debt, just postpone repayment

    CNN Money - Thanks to falling home prices, many homeowners are now stuck with mortgages that are actually worth more ... If the house later sold for $100,000, the lender would collect the $80,000 mortgage balance plus the $20,000.
    2008-02-20 01:03:00

  • UPDATE 1-Reuters Summit-Critic says B of A resists mortgage help

    Forbes - ... of America Corp (nyse: BAC - news - people ), which is buying the largest U.S. mortgage lender. ... Bank of America's planned purchase of Countrywide would create a lender making one in four U.S. home loans and servicing more than $1.9 ...
    2008-02-20 02:14:00

  • Major lenders give 30-day reprieve to those facing foreclosure

    Fort Lauderdale Sun-Sentinel - Six of the nation's largest home mortgage lenders said Tuesday that they'll temporarily stop some foreclosures to allow homeowners 30 days to renegotiate their loans. The announcement — by Countrywide, which is Florida 's largest mortgage lender ...
    2008-02-21 08:25:00

  • GMAC to shut down 3 of 4 Canadian outlets: reports

    Globe and Mail - Auto and mortgage lender GMAC Financial Services is to announce Wednesday that it is closing three of four Canadian outlets, according to media reports. GMAC, which is reeling from the U.S. mortgage crisis, plans to close about 75 per cent of its ...
    2008-02-20 08:09:00

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