Mortgage and Financial News From 2008-7-18 Page 2
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Economic downturn: Bank's deputy refuses to rule out recession (Guardian Unlimited)
John Gieve tells City to expect uncomfortable rest of year as inflation continues to rise
2008-07-18 04:12:19 -
America's Increasingly Unaffordable Cities - Forbes
If you live in Seattle , it might be time to ask for a cost of living increase. The city has the highest inflation rate in the country. "Seattle household income is fairly high, and that helps to maintain a high rate of inflation since higher income ...
2008-07-18 04:50:00 -
Big Slump In Mortgage Lending - Ananova
Mortgage lending has fallen by 32% to around £24 bn in the last year, according to new figures. Figures from the Council of Mortgage Lenders show the rate at which mortgage lending is falling has accelerated as the credit crunch tightens its ...
2008-07-18 06:30:00 -
Mortgage rates rose on Friday: BestInfo - Reuters
NEW YORK (Reuters) - The average rate on a 30-year U.S. mortgage with no upfront points rose 1/4 of a percentage point on Friday to 7 percent, according to BestInfo Inc. If the mortgage market on Monday continues in its current direction, rates may ...
2008-07-18 03:31:00 -
FOREIGN: Economies slow as inflation catches up with Europe (North County Times)
MILAN, Italy ---- It took a few months. But the economic woes touched off by soaring oil prices and the subprime mortgage crisis in the United States are finally engulfing Europe.
2008-07-18 06:11:06 -
SEC gets Freddie Mac closer to issuing stock (Minneapolis-St. Paul Star Tribune)
NEW YORK - Mortgage financier Freddie Mac took a step Friday toward issuing common and preferred stock to help bolster its balance sheet, when the Securities and Exchange Commission (SEC) accepted its registration statement.
2008-07-18 06:26:57 -
The house that IndyMac built (The Globe and Mail)
LOS ANGELES, TORONTO and NEW YORK — Patricia Ramirez's home, which sits on a ragged dead-end street at the edge of East Los Angeles in the shadow of an elevated freeway, cost $445,000 (U.S.) when she and her husband bought it in February, 2007.
2008-07-18 06:33:16 -
Jobs outlook weak as California's unemployment rate hits 6.9% in June (Los Angeles Times)
Small rise from May brings gauge to a nearly five-year high. The Los Angeles area has suffered substantial losses since a year earlier. SACRAMENTO -- California's jobless rate crept ahead Friday as experts saw weakness spreading into new areas of the economy.
2008-07-18 06:35:02 -
Gary Stern: Time for Fed to act is now (Minneapolis-St. Paul Star Tribune)
Gary Stern has served with three chairmen: Paul Volcker, Alan Greenspan and Ben Bernanke. He’s been Minneapolis Fed president since 1985.
2008-07-18 06:41:57 -
The house that IndyMac built (The Globe and Mail)
In the low-rate days of 2003, big pension and hedge funds were hungry for higher yields – and upstarts like IndyMac were only too eager to please. Their creations became time bombs that still threaten the financial system
2008-07-18 06:44:12 -
Work halted on £80m site (Hampshire Chronicle)
ONE of Hampshire's biggest builders has stopped work on a £80m housing scheme following the collapse of the property market. Award-winning Redrow Homes has shelved plans to build more than 300 flats on the old Webbs chicken factory site in Bridge Road, Lymington.
2008-07-18 07:07:51 -
Fed prohibits subprime 'liar's loans' (Seattle Post-Intelligencer)
The federal government has put its foot down: A lender can't give you a subprime mortgage unless you are able to repay it. And that goes for jumbo mortgages, too -- maybe.
2008-07-18 07:26:01 -
FSA bans mortgage partners for regulatory failures - Banking Business Review
The brokers failed to ensure that adequate measures were in place to prevent their partnership from being used to submit potentially false mortgage applications and exposed about 250 customers to the risk of receiving unsuitable advice. Derick ...
2008-07-17 02:10:00 -
NZ Property Investment Seminar in London books out - Scoop
Author of ‘Young & Singles Guide to Property Investment’ & Auckland based Mortgage Adviser, Jodi Cottle, is jet setting off to London on 18th of July for a whirlwind three week trip to present at four booked out events, specialising in working ...
2008-07-17 08:26:00 -
Freddie Mac Registers With SEC, Capital Is Sufficient (Update5) - Bloomberg
July 18 (Bloomberg) -- Freddie Mac , the second-largest U.S. mortgage-finance company, registered with the U.S. Securities and Exchange Commission, removing the biggest obstacle to selling common stock and increasing its mortgage holdings. Freddie ...
2008-07-18 01:22:00