Mortgage and Financial News From 2007-9-8 Page 14
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Mortgage lender Countrywide will cut up to 12,000 jobs (The Morning Call)
It expects home loan demand to fall by 25 percent next year. Struggling lender Countrywide Financial Corp. said Friday it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry.
2007-09-08 12:44:56 -
Fighting AIDS: How an Edgy Ad Campaign Built a Brand and Brought in ...
Kaiser Daily HIV/AIDS Reports - ... lucky enough to be part of the Root-Tilden-Kern Program, which is a scholarship program at NYU Law School for public interest ... 75% of the region’s cases. There’s not been very good testing, however, and we believe there are very high rates also ...
2007-09-04 05:59:00 -
Payroll-data shocker sparks Treasurys rally
Marketwatch - ... that the Federal Reserve will cut the federal funds target interest rate at -- or perhaps even before -- the next Federal Open Markets Committee meeting on Sept. 18. The only remaining questions seem to be exactly when the central bank will cut rates ...
2007-09-07 11:50:00 -
The 15-Minute Tip: A Silver Lining for Savers
FOX News - Rates change daily, and the gold-standard portal for bank products and interest rates is bankrate.com, specifically the 1- year CD page. And it's a good idea to keep track, for things could change if the mortgage market stabilizes and/or if the Fed ...
2007-09-07 12:05:00 -
1. Money in a bank account is safe.
CNN Money - If interest rates fall before the CD expires, the bank is out of luck and must give you the rate it quoted. If rates climb, you're stuck with the lower rate. Also with rising interest rates, money market accounts can become an attractive option, too ...
2007-09-07 11:57:00 -
Canada booming while U.S. struggles
Calgary Herald - BMO Capital Markets economist Sal Guatieri noted while the job-growth slump in the U.S. increases the odds of a retrenchment in consumer spending, it boosts the chances of a quarter-point cut in interest rates by the U.S. Federal Reserve on Sept. 18. ...
2007-09-08 02:02:00 -
ING adds some bling
Chicago Sun-Times - ING pays 4.5 percent interest on savings accounts, with no minimum deposit required. The U.S. average for bank passbook accounts is 0.44 percent, according to Laura Bruce, senior reporter at Bankrate.com, a guide to savings and CD rates around the ...
2007-09-08 03:07:00 -
Spare cash gives you mortgage flexibility (Seattle Times)
Q: "I am 58 and just purchased the home in which my wife and I plan to spend the rest of our lives. We paid points to reduce the rate on...
2007-09-08 12:24:02 -
ING adds some bling (Chicago Sun-Times)
The newest bank branch in town has its tellers serving coffee, soup and sandwiches. ING Direct, known for its high-interest rate online savings accounts, has opened a "cafe" at 21 E. Chestnut St. It is the fifth U.S. cafe for ING, a unit of Holland-based ING Group.
2007-09-08 02:12:42 -
ECB holds rates
Guardian Unlimited - ... in the 13-strong eurozone on hold at 4% in view of the current turbulence. Jean-Claude Trichet, ECB president, indicated repeatedly that the bank would refrain from raising rates further given uncertainty about the impact of the US sub-prime mortgage ...
2007-09-05 05:58:00 -
What next for Fed rate?
Long Island Business News - The arrival of September was supposed to bring more clarity to the economic impact of the current credit ... He also won't use lower rates to bail out hedge funds or mortgage lenders who find themselves facing tough times as credit conditions ...
2007-09-08 01:48:00 -
Friday, September 7
News.com.au - ... the banks, saying there was no justification for them to pass rising costs on to their customers through higher mortgage rates. ... AUSTRALIA may never fully recover from the current decade-long drought and we will face a "new reality" of harsh water ...
2007-09-07 11:57:00 -
Trichet Says ECB Determined to Act on Rates If Needed (Update4)
Bloomberg - ... Central Bank policy makers signaled their intention to raise interest rates ... The collapse of the U.S. subprime-mortgage market has made banks reluctant to lend ... Alan Greenspan, the former Fed chairman, said forces behind current market turmoil ...
2007-09-07 12:05:00 -
US economy jolts as employment rates sink
Times Online - ... markets remain vulnerable in the wake of the current crisis in the US sub-prime mortgage market, despite past experiences. “The human race has never found a way to confront bubbles,” he said, suggesting that the manipulation of interest rates ...
2007-09-07 12:05:00 -
Major US mortgage firm cuts jobs
Al Jazeera - ... chief executive and co-founder, said in a letter to employees: "This current cycle ... unexpected decline prompted calls for the Federal Reserve to cut interest rates ... The US mortgage industry has lost well over 50,000 jobs this year. Dozens of lenders ...
2007-09-08 12:22:00