Mortgage and Financial News From 2008-3-8 Page 10
Previous Day: 2008-03-07
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U.S. foreclosures at record, household wealth falls
Washington Post - The Mortgage Bankers Association on Thursday also said the mortgage delinquency rate ... The epicenter of the U.S. economy's current predicament is housing," said John ... is trying to light a fire under housing demand by cutting short-term rates.
2008-03-06 02:11:00 -
U.S. Stocks Drop, Led by Banks, as Foreclosures Climb to Record
Bloomberg - ... European shares extended their retreat after the European Central Bank kept interest rates at a six-year ... The difference in yields, or spread, on the Bloomberg index for Fannie Mae's current-coupon, 30-year fixed-rate mortgage bonds and 10-year ...
2008-03-06 10:58:00 -
Dangerous Cracks Appearing in Job Market
San Francisco Gate - Factories, construction companies, mortgage brokers, real-estate firms, retailers ... acknowledged Friday that the economy may dip into negative territory in the current ... signaled last week that the central bank is prepared to lower interest rates again
2008-03-08 07:28:00 -
Bank Leaves Cost Of Borrowing Alone
Ananova - The Bank of England's policymakers have decided against cutting interest rates ... no surprise in the City but is still a big disappointment for hard-pressed mortgage ... Current elevated inflation risks meant that it was too soon for the Bank to be ...
2008-03-08 07:35:00 -
Foreclosure rates hit new highs
Los Angeles Times - ... of all mortgages were delinquent and just over 2% were in foreclosure, the Mortgage ... Although the current crisis began with sub-prime loans -- mortgages made to ... The rates were higher for adjustable rate mortgages, with 8.68% either delinquent ...
2008-03-05 03:59:00 -
Area foreclosure rate slows, but problems still lurk
Houston Chronicle - Subprime loans were marketed to home buyers with poor credit and had higher rates ... in 2007 can also be blamed, in part, on the rising incidence of mortgage fraud. ... an ARM rising can be cured by a second job or working overtime on your current job ...
2008-03-08 09:58:00 -
FTSE falls on US mortgage woes
Financial Times - After cutting its main interest rate by a quarter of a percentage point last month, the bank’s monetary policy committee resisted pressure for further weakening in monetary policy and maintained rates at 5.25 per cent. “Current elevated inflation ...
2008-03-06 12:45:00 -
Treat nation's prison crisis like housing market crisis (Gloucester County Times)
The Pew Center on the States is part of an independent, non-partisan organization whose mission is to serve the public interest. A week ago, this organization figuratively dropped a bomb.
2008-03-08 06:48:04 -
Houston foreclosure rate slows, but problems still lurk (Houston Chronicle)
The slowdown comes after foreclosures in Harris, Montgomery and Fort Bend counties shot up 21 percent to 14,538 from 11,983 in 2006, records show. But for the first two months of the year, foreclosures in the three counties have averaged about 1,200 a month.
2008-03-08 06:49:53 -
Ominous signs point to a recession (Lahontan Valley News)
WASHINGTON Dangerous cracks in the nation's job market are deepening.
2008-03-08 08:19:36 -
Pocketbook Issues Loom Large in 2008 Election (WMCTV Memphis)
The next President could make big changes to the ways Americans invest and save for retirement. So far, those pocketbook issues have not generated much talk among the candidates.
2008-03-08 08:32:33 -
Employers slash jobs nationwide (Arizona Daily Sun)
WASHINGTON -- If you can't stand your job, you'd probably be wise to grin and bear it for a while. Job opportunities are harder to find these days.
2008-03-08 09:23:13 -
Economists stunned by job numbers (The Brockville Recorder and Times)
A whopping 43,000 new jobs were created in February, stunning economists and creating a widening jobs gap with the United States that suggests Canada may be able to ride out a mild U.S. recession. Statistics Canada said Friday the country's unemployment rate remained unchanged, at a 33-year low of [...]
2008-03-08 10:11:40 -
Total Clicks : (ZDNet India)
Bush and Clinton cameo at wireless show COMMUNICATION Former U.S. Presidents George Bush and Bill Clinton on Thursday told wireless executives at an industry event here how important their work is in shaping democracies and economies around the world.
2008-03-08 10:34:07 -
Foreclosures hit another record high
Marketwatch - In December 2006, the FHA backed 27,627 loans to purchase a home or to refinance an existing loan. In December 2007, FHA backed a total of 46,014 loans, according to HUD spokesman Steve O'Halloran.
2008-03-05 03:59:00
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