Mortgage and Financial News From 2007-9-8 Page 10
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Mortgage Lenders Countrywide, IndyMac Announce Layoffs (Washington Post)
Countrywide Financial and IndyMac Bancorp, two of the nation's largest mortgage lenders, announced plans to sharply reduce their workforces in coming months as they try to cut costs in a turbulent mortgage market.
2007-09-08 12:46:04 -
Rep. Frank urges "meaningful" interest rate cut
Reuters - WASHINGTON, Sept 7 (Reuters) - A "deeply troubling" August unemployment report requires the Federal Reserve Board to make a "meaningful" cut in interest rates at its next policy-setting meeting this month, a senior Democrat in the U.S. House of ...
2007-09-07 11:50:00 -
Tuesday, September 4
News.com.au - Home owners hit by rising rates HOME lending costs are inching towards 10 per cent after nine official interest rate rises in five years. Households are feeling the pinch, and the hurt is not over yet with the threat of more rate rises.
2007-09-08 07:53:00 -
Luxuries behind money woes
News.com.au - ONE of Australia's largest mortgage brokers, Mortgage Choice, is urging borrowers to consider their options in an effort to counter the impact of another interest rate rise. National manager of corporate affairs for Mortgage Choice Warren O'Rourke ...
2007-09-08 01:26:00 -
Venezuela Interest Rate Shoots Up
MSN MoneyCentral - CARACAS, Venezuela (AP) - The interbank lending rate in Venezuela shot up Thursday after a decision by the Central Bank to halt some transactions that inject cash into the financial system. Venezuela's Central Bank announced Wednesday that it would ...
2007-09-07 12:05:00 -
Jobs data stoke recession fears
Seattle Times - WASHINGTON — The first monthly decline in new jobs in four years raises fears of recession and virtually guarantees that the Federal Reserve will cut a key interest rate this month to spur the economy, experts said Friday. The economy shed 4,000 ...
2007-09-08 12:15:00 -
Should the Fed Cut Interest Rates?
Safe Haven - The fact that the Fed helped create the low interest rate environment which fostered such excessive risk taking is not something they have yet acknowledged. After today's unemployment number, the futures market is pricing in a rate cut for ...
2007-09-08 07:39:00 -
Job cuts increase odds of recession
Houston Chronicle - The jobs report all but guarantees that the Fed will cut its benchmark short-term interest rate when its policy-making committee meets on Sept. 18. A quarter-point reduction, to 5 percent, remains the most likely move, although a half-point cut ...
2007-09-08 06:20:00 -
Wall St Week Ahead - Will stocks sink or swim after jobs data?
Reuters India - However, it is unlikely that there will be much clarity ahead of the anxiously-awaited Federal Reserve interest rate decision the following week, as investors debate whether and by how much the Fed will cut key interest rates. "The pendulum is going ...
2007-09-08 08:36:00 -
Ways to raise first deposit
News.com.au - Recent media speculation on interest rate movements and different refinancing options has crowded out the issue of affordability for battling first-home buyers. But there are ample figures to demonstrate just how the dream of home ownership is getting ...
2007-09-08 07:53:00 -
Savers would be wise to lock in high CD rates
Chicago Tribune - People with money in the bank soon may help foot the bill to stabilize Wall Street. Many investment experts are betting that the Federal Reserve will cut its benchmark short-term interest rate this month to ease the credit crunch that has bedeviled ...
2007-09-08 06:48:00 -
Congress OKs lower rate on student loans
Seattle Times - Bush has indicated he will sign the legislation, although his administration has criticized a student-loan interest-rate cut and a new loan-forgiveness program, among other things. House Democrats had made the popular interest-rate cut a priority ...
2007-09-08 12:15:00 -
European 10-Year Bonds Post Fourth Weekly Gain on ECB Rate View
Bloomberg - By contrast, the implied yield on the December interest-rate futures contract for the euro region has fallen 4 basis points this week to 4.45 percent as traders bet borrowing costs will rise by the year-end. Economic growth in Germany, the ...
2007-09-08 01:12:00 -
Job Cuts Ignite Economy Fears
The Ledger - Pressure is building on the Federal Reserve to lower interest rates. Many economists predict the deteriorating employment climate will lead to a rate cut Sept. 18. A report released Friday by the Labor Department showed the nation's payrolls shrank ...
2007-09-08 03:57:00 -
The pitfalls of changing loans
News.com.au - Mortgage provider Ratebusters offers a standard variable interest rate of 7.27 per cent on its "rate reducer" loan. Its competitive rate is offset against an application fee of $1980, a document preparation fee of $275, valuation fee of $220 ...
2007-09-08 07:39:00