Mortgage and Financial News From 2008-7-18 Page 14
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Mortgage lending slumps even further (Independent)
The rate at which mortgage lending is falling has accelerated as the credit crunch tightens its stranglehold on the market, figures showed today.
2008-07-18 02:03:35 -
2nd UPDATE: Asean: WTO Doha Round Key To Avert Food Crisis (INO News)
SINGAPORE (Dow Jones)--Southeast Asia, home to the world's number one and number three rice-exporting nations, said a successful conclusion to the WTO's Doha Round of trade talks will be key to overcoming a crisis caused by rising food prices, a draft statement showed Friday.
2008-07-18 02:10:06 -
Mortgage rates decline (Chicago Sun-Times)
The average 30-year fixed-rate mortgage fell to 6.26 percent this week from 6.37 percent last week, Freddie Mac, the mortgage company, reported Thursday.
2008-07-18 02:13:33 -
Mortgage lending slumps to two-year low (Guardian Unlimited)
Lenders advanced just £23.8bn during June, the lowest level since 2006, the CML says
2008-07-18 02:15:11 -
Big Slump In Mortgage Lending (Ananova)
Mortgage lending has fallen by 32% to around £24 bn in the last year, according to new figures.
2008-07-18 02:28:31 -
U.S. Futures Fall After Google, Merrill Miss Profit Estimates (Bloomberg.com)
July 18 (Bloomberg) -- U.S. stock-index futures retreated after Google Inc. , Merrill Lynch & Co. and Microsoft Corp. missed analysts' profit estimates, indicating the market's rally may be short-lived.
2008-07-18 02:35:52 -
Morgan Reports a Drop of 53% in Quarterly Net (The Hendersonville Times-News)
JPMorgan Chase said credit card and home loan losses spread to borrowers with the strongest credit histories.
2008-07-18 02:44:35 -
Stocks Fall in Europe, Asia, U.S. Futures Slide; Merrill Drops (Bloomberg.com)
July 18 (Bloomberg) -- Stocks fell in Europe and Asia and U.S. index futures dropped after Merrill Lynch & Co. , Microsoft Corp. and Wipro Ltd. reported disappointing earnings and L'Oreal SA cut its sales forecast.
2008-07-18 02:44:36 -
Merrill posts $4.9 billion loss, sells Bloomberg stake (Reuters via Yahoo! News)
Merrill Lynch & Co posted a much larger-than-expected $4.89 billion quarterly loss on Thursday after writing down soured debt, and unveiled plans to sell billions of dollars of assets -- including a part of its lucrative brokerage business -- to shore up capital.
2008-07-18 02:49:24 -
Renting to a stranger to help with bills? - Seattle Times
Katherine Ongiri is shown in her rented attic room in Baltimore, Md. Ongiri rents the room for $500 a month from homeowner Barbara Terry, who had fallen behind on her mortgage payments. MATT ROTH / NYT Barbara Terry, left, prepares to put her ...
2008-07-16 12:17:00 -
Repairs to CIT Only Part-way Done - CFO.com
Struggling CIT Group reported a steep drop in operating income for the second quarter, but said it has done significant repair to its balance sheet and is now positioned to meet liquidity needs through the end of 2009. Still, the company faces $6.2 ...
2008-07-17 10:13:00 -
How Terrorists Say "Hello" - Slate
The Federal Reserve will issue new lending rules to " restrict exotic mortgages " for people with poor credit ratings, according to a report in Tuesday's New York Times . What's so exotic about an exotic mortgage? Its nontraditional repayment plan ...
2008-07-14 05:59:00 -
40-year loans a life sentence - News.com.au
CASH-strapped home buyers are being pushed into 40-year home loans that can end up costing them $200,000 in extra interest but only cut their repayments by less than $20 a week.
2008-07-18 12:00:00 -
States battle mortgage foreclosure threat; see chart - USA Today
Frustrated by the slow pace of federal relief, states around the country are pouring hundreds of millions of dollars into their own programs to stem the rising tide of home foreclosures. Some state political leaders complain that federal efforts to ...
2008-07-16 05:56:00 -
U.S. markets swing up - United Press International
NEW YORK, July 17 (UPI) -- U.S. stock indexes edged up Thursday afternoon with financial concerns posting strong gains. The closely watched mortgage broker Federal Loan Mortgage Corp., known as Freddie Mac ( NYSE:FRE-W ), was up 18.61 percent ...
2008-07-17 09:48:00