Mortgage and Financial News From 2008-3-8 Page 15

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  • Low home equity, record-high foreclosures hit housing market

    Times West Virginian - The Fed reported Thursday that homeowner equity actually slipped below 50 percent in the second quarter of last year, and ... due to a surge in cash-out refinancings, home equity loans and lines of credit and an increase in no-down-payment mortgages.
    2008-03-08 01:44:00

  • Mortgages & homes - House prices

    This is Money - The great European house price boom ended in 2007 according to a new report predicting storm clouds on the horizon for the Continent's property markets. Euro house: Europe's property market has boomed as investors and second homeowners piled in - but ...
    2008-03-06 01:32:00

  • Flat Existing-Home Sales Likely Before Gradual Recovery

    Forbes - ... loan limits for both FHA and conventional loans will increase consumer choice and provide greater access to lower interest rate mortgages in high-cost regions," he said. "Therefore, a notable rise in home sales can be anticipated in the second half ...
    2008-03-06 07:23:00

  • S&P cuts Washington Mutual, may cut again

    Reuters - ... and said it may cut the company further, citing expectations that weakness in residential mortgages will be worse than previously expected. S&P cut its counterparty credit ratings on the largest U.S. savings and loan one notch to "BBB," the second ...
    2008-03-06 07:01:00

  • Loan consultants: New jumbo guidelines will help

    Santa Cruz Sentinel - Many local borrowers took out two mortgages because the homes they bought cost more than $417,000. But the guidelines won't allow borrowers to consolidate a first mortgage and a second mortgage.
    2008-03-08 04:00:00

  • Sharp Drop in Jobs Adds to Grim Economic Picture

    New York Times - It was the second consecutive monthly decline, and the third straight drop for private-sector jobs. ... Much of that collateral consists of mortgages. In a surprise announcement early Friday, the Federal Reserve said it would ...
    2008-03-08 04:57:00

  • Citigroup overhauling U.S. mortgage business

    Globe and Mail - According to its annual report, Citigroup ended 2007 with $150-billion of first mortgages and $63-billion of second mortgages, including home equity loans, on its books.
    2008-03-06 02:18:00

  • Credit card spending on the rise (The Salt Lake Tribune)

    Borrowing by U.S. consumers rose in January as Americans spent twice as much on their credit cards as they did a month earlier.     Consumer credit increased by $6.
    2008-03-08 02:11:42

  • (AFX UK Focus) 2008-03-08 10:21 GMT: CEOs defend their high pay on Hill (Interactive Investor)

    WASHINGTON (AP) - 0307dv--banker--compensation
    2008-03-08 02:42:40

  • Business Briefing: March 8, 2008 (The Morning Call)

    CONGRESSMAN SLAMS FAA
    2008-03-08 03:09:42

  • U.S. already in recession, says market strategist

    Birmingham News - ... national recession began in early December as fallout from the subprime mortgage ... If job losses continue, things will only get worse," Metz said. ... Metz said he expects the Federal Reserve to cut interest rates another half-point in ...
    2008-03-08 01:08:00

  • Sharp Drop in Jobs Adds to Grim Picture of U.S. Economy

    Times Daily - The Fed’s problem is that its main weapons against a downturn — lower interest rates and easier money ... If investors lose confidence in Fannie Mae and Freddie Mac, which have become the only major remaining source of mortgage financing in ...
    2008-03-08 01:37:00

  • Ahead of the Bell: Fannie, Freddie

    CNBC - Legislation to tighten the government's reins on the two mortgage-finance companies ... The bill is of intense interest to the real estate industry because it would also ... Republicans say they'll only do so if the higher limits are part of a broad bill ...
    2008-03-06 03:41:00

  • Bank keeps interest rates on hold

    BBC Business - ... England's rate-setting Monetary Policy Committee (MPC) has decided to keep interest ... The UK's biggest mortgage lender, Halifax, has also said that house prices are ... A move in April cannot be ruled out, but it would probably only occur if ...
    2008-03-06 09:24:00

  • Let bankruptcy judges step in

    Atlanta Journal Constitution - Each investor owns only a small fraction of each mortgage, making direct negotiations impractical. ... the house's full value or the mortgage's full amount (whichever was lower) plus interest at the current market rate. The Mortgage ...
    2008-03-06 03:41:00

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