Mortgage and Financial News From 2008-2-21
Previous Day: 2008-02-20
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Singapore shares close higher in tandem with regional markets - UPDATE
CNBC - Investors largely shrugged off the possibility of a mortgage loan war among banks after Maybank, a Malaysian bank with a full banking license in Singapore, cut its mortgage rates.
2008-02-19 02:05:00 -
Area's middle class is losing ground
Seattle Times - While low mortgage-interest rates helped more people become homeowners in recent years, skyrocketing property values have meant that a rising number of owners and renters are paying a larger portion of their incomes to stay in their homes.
2008-02-21 12:08:00 -
Mortgages & homes - Mortgage features
This is Money - How is Northern Rockless going to make money i.e. high savings rates and low mortgage rates gives no profit. The name Northern rock is dead and thus the brand is dead the govt. has carried out a wrong move and with little planning and thus the public ...
2008-02-17 03:58:00 -
First-time buyers will realize value of owning home
El Paso Times - What we must understand is that even though there was a substantial cut in prime rates, this applies to loans to financial institutions and has little bearing on mortgage rates.
2008-02-20 11:04:00 -
Summoned to Annapolis
Baltimore Sun - The subprime mortgage crisis was created by a series of events and players. The fallout included homeowners who were duped into loans with exorbitant interest rates and others who were trying to cash in on the housing boom.
2008-02-21 12:08:00 -
ANZ Chief Says Credit Pressure Not Over
Forbes - A global credit crunch flowing out of the U.S. subprime mortgage crisis has pushed money market interest rates higher in Australia, eating into bank profits and forcing up the cost of borrowing for businesses and home owners.
2008-02-21 02:03:00 -
State Bank's Rate Cuts May Dent Margins; Shares Drop (Update1)
Bloomberg - State-run banks such as Union Bank of India and Bank of India have reduced lending rates. Housing Development Finance Corp., the mortgage lender partly owned by Citigroup Inc., and banks such as Allahabad Bank have also cut rates.
2008-02-20 11:47:00 -
Why LowVARates.com Told VA Loan Holders to Lock Loans in 2 Months Ago ...
PR.com - Washington, DC, February 21, 2008 --( PR.com )-- Some of the smartest economists in the country find themselves absolutely baffled as to what has occurred in the past few days with long-term fixed mortgage rates.
2008-02-20 11:54:00 -
Spain's Habitat Refinances Loan After Breaching Terms (Update1)
Bloomberg - Spanish home sales dropped 70 percent in 2007 and will fall 50 percent this year as rising mortgage rates and concern that the U.S. housing slump is spreading to other countries deter buyers, according to Aguirre Newman, a Madrid-based property ...
2008-02-21 01:20:00 -
Cost of owning a home increases
North County Times - Instead, mortgage rates are more significantly affected by the bond market. Banks package mortgages as securities, which are then sold to investors.
2008-02-21 12:23:00 -
WHILE RATES SOAR, ARM HOLDERS CATCH BREAK
New York Post - February 21, 2008 -- BELIEVE it or not, taking out an adjustable-rate mortgage five years ago was a very smart move. I know, you've heard all about Mortgage-rate resets on these adjustable loans and how a whole lot of people are losing or walking ...
2008-02-21 12:30:00 -
Mortgage Rates, Inflation, Unemployment… Oh My.
HULIQ.com - The U.S. Federal Reserve Board members have surely lost their share of sleep over the past couple of months and they are about to lose more. Last month the Feds cut interest twice in hope of stemming off inflation and slowing the mortgage fiasco that ...
2008-02-21 12:16:00 -
Mortgage costs to rise, A&L warns, as shares hit all-time low
Guardian Unlimited - ... the finance director who is standing in for the ill chief executive, David Bennett, said A&L would concentrate on keeping its existing customers during the coming year rather than seek out new borrowers by offering market-leading mortgage rates.
2008-02-21 01:41:00 -
Lender Lead Solutions Builds Nationwide Wholesale Platform
Raleigh News & Observer - Company hires team of new employees to support its local broker partners MELVILLE, N.Y. - Lender Lead Solutions, a reverse mortgage wholesale lender and a division of World Alliance Financial Corp., announced today the expansion of its nationwide ...
2008-02-20 08:24:00 -
U.S. credit woes seep across the border
Globe and Mail - Today's tight money picture is a 180-degree reverse from a year ago, says Blake Hutcheson, president of commercial real estate broker CB Richard Ellis Ltd. Last spring, mortgage lenders who bundle their loans and sell shares in that package to ...
2008-02-19 06:02:00