Mortgage and Financial News From 2008-7-18 Page 4
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Jeremy Warner's Outlook: Now there's a surprise. Government is being forced to suspend its fiscal rules (Independent)
Just when you thought things couldn't get any worse for our beleaguered Prime Minister, along comes the news that he's being forced to ditch the rules on which he built his reputation as the Iron Chancellor.
2008-07-18 04:42:49 -
EDITORIALS: Fight foreclosures with jobs, ethics, responsibility (The Herald Bulletin)
The scenario is all too familiar. Person buys home. Person can’t afford home. Bank forecloses. Property sits vacant and unattended. Eyesore is created. Sheriff’s sale ensues.
2008-07-18 04:48:16 -
More than 66,000 foreclosures possible in Minnesota this year (The Timberjay)
In Minnesota, home foreclosures could exceed 66,000 by the end of 2008, according to a study that compiles data from the state’s 87 counties for the first time.
2008-07-18 04:55:56 -
Without sound regulation, markets run amok (The Timberjay)
“Those who cannot remember the past are condemned to repeat it.” How many times does the U.S. political and financial establishment need to be reminded that the free market does not, and never will, take care of itself?
2008-07-18 04:56:25 -
Investors sue Bank of America over auction rate securities - MSN MoneyCentral
Investors filed a class-action lawsuit Thursday against Bank of America Investment Services Inc. and Bank of America Securities, alleging that brokers deceived them about their risk. Bank of America offered and sold auction rate securities to the ...
2008-07-18 11:13:00 -
Fitch Rates Elva Funding PLC Series No: 2008-5 - Forbes
Elva Funding PLC Series No: 2008-5 (the issuer) has issued the above fixed rate, credit linked notes with a principal amount of Columbian Peso (COP) 54,558,000,000. The issuance proceeds were used to purchase U.S. Dollar (USD) 30,000,000 of the USD4 ...
2008-07-18 01:36:00 -
Mexico peso firms to 5-year high after rate hike - Reuters
MEXICO CITY, July 18 (Reuters) - Mexico's peso firmed to a five-year high on Friday after the country's central bank raised interest rates for the second straight month and some investors bet on further rate hikes
2008-07-18 11:56:00 -
Interest Rate Volatility Drops as Fed Policy Speculation Eases - Bloomberg
July 18 (Bloomberg) -- Volatility in U.S. interest-rate options dropped near a two-month low as expectations increase for the Federal Reserve to keep borrowing costs steady and investor aversion to risk climbs. Normalized volatility on one year ...
2008-07-18 11:56:00 -
Mexico's Peso Rises to Five-Year High on Interest-Rate Increase - Bloomberg
July 18 (Bloomberg) -- Mexico's peso reached its strongest in five years after the central bank boosted borrowing costs for a second time this year in a bid to curb the highest inflation rate in more than three years. The peso rose 0.6 percent to 10 ...
2008-07-18 02:26:00 -
Bank of Mexico raises interest rates - MSN MoneyCentral
MEXICO CITY (AP) - The Bank of Mexico is raising interest rates for the second time in less than a month to slow inflation. The bank decided Friday to increase interest rates by a quarter point to 8 percent. It raised interest rates to 7.75 percent ...
2008-07-18 11:35:00 -
IMF urges Iran to raise rates to contain inflation - Forbes
WASHINGTON (Reuters) - The International Monetary Fund Friday urged Iran to raise interest rates and take other policy measures to contain inflation. It said Iran's economy is expected to slow in 2008/09 to 5.7 percent from 6.6 percent last year, but ...
2008-07-18 11:56:00 -
America's Credit Unions: Secure, Strong - CNBC
WASHINGTON, July 18, 2008 /PRNewswire-USNewswire via COMTEX/ -- Amid turmoil, serving as safe harbors for consumer savings Despite turmoil in other areas of the financial community, America's credit unions remain a safe harbor for consumers - with ...
2008-07-18 01:08:00 -
Fed's Stern supports early rate hikes: Bloomberg - Reuters
CHICAGO (Reuters) - The Federal Reserve can not wait until financial and housing markets stabilize before raising interest rates, Minneapolis Fed President Gary Stern said in an interview with Bloomberg on Friday. Stern, a voter on the policy-setting ...
2008-07-18 12:32:00 -
Risky lending on both sides of border - Montreal Gazette
Mortgages, in particular sub-prime mortgages, have dominated the news of late. The effects of risky sub-prime lending because of high interest rates, frequently poor credit histories and potentially adverse financial situations sometimes associated ...
2008-07-18 11:49:00 -
Lots of red ink in financial services funds - Globe and Mail
Damages to financial services stock funds. With the continuing fallout from the U.S. subprime mortgage crisis and ensuing global credit crunch, financial services stocks have been on another roller-coaster ride this week. By yesterday,fri the sector ...
2008-07-18 03:38:00