Mortgage and Financial News From 2007-9-27 Page 23
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South Africa: Inflation Slowdown But 'Peak is Still to Come'
AllAfrica.com - The annual rise in CPIX, which excludes changes in mortgage rates, slowed to 6,3% from 6,5% in July -- bang in line with forecasts and its lowest since April. But the respite is likely to be short-lived, with the Bank saying last week that inflation ...
2007-09-27 04:03:00 -
Pound Gains as Report Shows U.K. House-Price Growth Quickened
Bloomberg - ... likely the central bank will cut interest rates. The cost of a home gained 0.7 percent this month, from 0.6 percent in August, Nationwide Building Society, the U.K.'s fourth-largest mortgage ... yesterday, when it touched 70.28, the lowest ...
2007-09-27 04:17:00 -
House prices to slow even with a rate cut
Daily Telegraph - House prices rose again in September, as the expectation that interest rates have ... three months slowed from 2pc to 1.6pc compared with the previous quarter - lowest ... the housing market, but as the price of credit becomes more expensive in the mortgage ...
2007-09-27 02:51:00 -
Global Stocks, U.S. Futures Rise; BMW, Sony Lead Advance
Bloomberg - ... in home sales today, giving the Federal Reserve more room to cut interest rates ... Sales of new homes in the U.S. declined to the lowest level in more than seven ... Flowers & Co. has been given access to the U.K. mortgage lender's books after making ...
2007-09-27 04:31:00 -
European Stock Futures Gain; Shell, Total, DSM May Advance (Bloomberg.com)
Sept. 27 (Bloomberg) -- European stock-index futures rose, following gains in Asian and U.S. markets, on speculation economic reports today will give the Federal Reserve more room to cut interest rates.
2007-09-27 12:07:34 -
Global Stocks, U.S. Futures Rise; DSM, China Telecom Advance (Bloomberg.com)
Sept. 27 (Bloomberg) -- Stocks in Europe and Asia climbed on speculation a U.S. home sales report today will give the Federal Reserve more room to cut interest rates. Standard & Poor's 500 Index futures rose.
2007-09-27 03:13:43 -
Global Stocks, U.S. Futures Rise; BMW, Sony Lead Advance (Bloomberg.com)
Sept. 27 (Bloomberg) -- Stocks in Europe and Asia climbed on speculation the U.S. will report a decline in home sales today, giving the Federal Reserve more room to cut interest rates. Standard & Poor's 500 Index futures rose.
2007-09-27 04:34:23 -
House prices continue to climb despite Northern Rock credit crisis (Daily Mail)
House prices are rising at the fastest pace in three months as the market shrugs off the global credit crunch and higher interest rates. Mortgage lender Nationwide said the cost of a home rose by 0.7 per cent between August and September, despite the number of mortgages approvals falling for the third month in a row
2007-09-27 02:48:01 -
China mortgage curbs
Marketwatch - In a move aimed at cooling China's overheated property market, the People's Bank of China was expected to increase the interest rate of mortgage loans to 1.1 times the benchmark one-year lending rate, China Daily reported Wednesday, citing an unnamed ...
2007-09-26 03:38:00 -
FHA Modernization Act of 2007 and the Subprime Mortgage Meltdown
WebWire - The Center for Responsible Lending recently determined that as many as 2.2 million sub-prime mortgage loans made in recent years will end in foreclosure, costing homeowners as much as 164 billion dollars. Congress voted to adopting reforms to the ...
2007-09-26 03:17:00 -
Britannia Building H1 pretax up 8 pct; low mortgage arrears continue
CNBC - ... first-half pretax profit and said it continues to see low levels of mortgage arrears and repossessions due to its prudent lending policy. "Our commitment to fairness means we won't lend customers more than they can afford to repay or offer loans ...
2007-09-27 02:44:00 -
Senators see conflict for rating agencies
Boston Globe - Several members of the Senate Banking Committee questioned rating agency executives about whether they provided advice to investment banks that issue complex mortgage securities tied to subprime home loans. "It seems to me that credit rating agencies ...
2007-09-27 12:35:00 -
Markets' World of Worry __
Washington Post - It warned of the "dark shadow over global financial markets" caused by the collapse of the U.S. market for "subprime" mortgage loans, which is the industry's polite term for mortgages that don't meet normal credit standards. The credit market is still ...
2007-09-26 09:00:00 -
Activists want rates on adjustable-rate mortgages frozen
Cleveland Plain Dealer - Activists from five states, gathering in Cleveland Wednesday, called on the lending industry to freeze interest rates on adjustable-rate home mortgage loans. The adjustable rates are expected to soar over the next few months, triggering yet another ...
2007-09-27 01:40:00 -
KKR Banks Selling $10 Billion of First Data Loans (Update1)
Bloomberg - Underwriters of leveraged loans are stuck with about $370 billion of debt they had planned selling, after concerns about mortgage defaults prompted investors to shun high-yield, high- risk debt through July and August, according to Bank of America ...
2007-09-27 03:41:00