Mortgage and Financial News From 2007-9-8 Page 12
Previous Day: 2007-09-07
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Ex-New Castle resident charged in mortgage scheme (The Star Press)
NEW CASTLE -- Police say a former New Castle woman used more than $300,000 from a second mortgage on her rural Henry County home to write checks to herself, to her husband and to cover other checks that were written a day earlier.
2007-09-08 12:20:52 -
National City Bank Laying Off Mortgage Employees (WTOL 11 Toledo)
The Cleveland-based bank says scaling back its home lending businesses and shifting the mortgage loans on its books will cost the company about $200 million dollars before taxes.
2007-09-08 05:02:15 -
Bruss: PMI loan market thrives in spite of 'mortgage meltdown' (The Tennessean)
Despite all the negative publicity about the so-called "mortgage meltdown" with more than 100 major mortgage lenders either filing bankruptcy or being unable to fund their home loan commitments, low- and no-down-payment PMI (private mortgage in surance) mortgages are readily available if you have steady income and good credit.
2007-09-08 12:12:34 -
EU Commissioner Almunia: Econ Fundamentals Still Good -2-
FXStreet.com - He said that politicians in Rome would have to exercise "extreme care ... not to worsen the fiscal position" amid doubts about the effects of the current market turbulence. Interest rates are going up, he added, noting that this makes coping with ...
2007-09-08 03:35:00 -
Countrywide plans to cut up to 12,000 jobs
Fort Worth Star-Telegram - ... impact they will have on our company and our people," David Sambol, president and chief operating officer, said in a statement. Countrywide also held out the possibility of fewer cuts if the mortgage market recovers. But based on current interest rates ...
2007-09-08 03:49:00 -
UK interest rates may have peaked at current level
Newratings.com - LONDON, September 7 (newratings.com) - Analysts at ING Financial Markets say that UK interest rates appear to have peaked at the current 5.75%. In a research note published this morning, the analysts mention that although chances for another hike are ...
2007-09-07 11:07:00 -
Congress passes student aid bill
Sun-Journal - The bill would halve interest rates for students starting July 1, from a current 6.8 percent to 3.4 percent phased in over four years. Those rates reverse an increase that the previous Republican-led Congress allowed as a way to fund tax cuts. The ...
2007-09-08 01:26:00 -
Euro-zone Rates Likely to Raise Further
CNBC - Weber's comments are the strongest sign yet the ECB may push ahead with higher interest rates once current market turbulence abates, after the central bank held off with a rate rise on Thursday and left benchmark rates unchanged at 4%. ECB President ...
2007-09-07 11:57:00 -
Look for buys if rates are cut
Jackson Clarion-Ledger - Current consensus is that the Federal Reserve will cut interest rates Sept. 18. If that happens, it would be wise to increase stocks in sectors that respond well when the economy booms, such as financial services and technology. Here are low-cost ...
2007-09-07 10:35:00 -
Congress overhauls student aid
Miami Herald - A lot of folks are being priced out of college,'' he said. The bill would halve interest rates for students starting July 1, from a current 6.8 percent to 3.4 percent phased in over four years. Those rates reverse an increase that the previous ...
2007-09-08 12:15:00 -
After 3 yrs, home loan rates head down
Times of India - The current round of rate reduction will be the first since November 2004. Between then and March 2007, home loan rates were revised eight times, with interest rates rising from 7% to 12% during the period. As a result, EMIs have increased nearly ...
2007-09-08 01:19:00 -
Sweden raises interest rates
Financial Times - The Swedish central bank on Friday raised interest rates by 25 basis points to 3.75 per cent despite the current turmoil in global financial markets. The Riksbank has been steadily tightening monetary policy to cool the economy, raising the repo rate ...
2007-09-07 06:38:00 -
Sweden raises interest rates (Financial Times)
The Swedish central bank on Friday raised interest rates by 25 basis points to 3.75 per cent despite the current turmoil in global financial markets. The Riksbank has been steadily tightening monetary policy to cool the economy, raising the repo rate by 25 basis points twice already this year.
2007-09-07 08:00:53 -
Sweden raises interest rates (FT.com via Yahoo! News)
The Swedish central bank on Friday raised interest rates by 25 basis points to 3.75 per cent despite the current turmoil in global financial markets.
2007-09-07 07:57:20 -
Study shows racial disparity in home loans
St. Louis Post-Dispatch - ... but it is a limited tool," said Mark Gorman, president of Maryland Heights-based Gorman & Gorman Home Loans and chairman of the Mortgage ... The best chance a borrower has of getting a fair loan is to get it from a regulated lender like a bank ...
2007-09-08 01:12:00