Mortgage and Financial News From 2008-1-5 Page 44
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Subprime name sums up crisis (Seattle Times)
There were 1.2 million foreclosures in 2006 and we survived that without any catastrophic problems. So 1.4 million in 2008 is not going to kill us. The difference is that, right now, the crisis is getting a huge amount of press.
2008-01-05 02:13:22 -
Homebuyers sidestep subprime trap (Seattle Times)
Keith and Vicky Newson appeared destined to become subprime-lending statistics. But they learned to say no and stuck to their guns.
2008-01-05 02:14:22 -
Michigan man charged with setting girlfriend on fire (Detroit Free Press)
MUSKEGON HEIGHTS — A west Michigan man suspected of setting his girlfriend on fire spent a day hiding in an attic before police found him.
2008-01-05 02:25:46 -
Student-loan cuts batter Sallie Mae (The Cincinnati Enquirer)
Shares of Sallie Mae tumbled 13 percent, hitting a 52-week low, as investors reacted to the company's disclosure that it would cut back on making student loans.
2008-01-05 02:38:57 -
Barclays Changes U.K. Rate View, Sees Cut Next Week (Update1)
Bloomberg - Jan. 4 (Bloomberg) -- The Bank of England will lower the benchmark interest rate three times this year starting next week, Barclays Capital said, changing an earlier forecast for only two reductions. ``There's a material slowing in demand,'' George ...
2008-01-04 09:12:00 -
US RATE FUTURES-Weak Dec jobs build case for 50 bps cut
Reuters - CHICAGO, Jan 4 (Reuters) - U.S. short-term interest rate futures jumped on Friday after a weak employment report for December suggested the Federal Reserve could be forced to respond aggressively to a deteriorating economy. The jump in futures priced ...
2008-01-04 09:26:00 -
US RATE FUTURES-Trim gains marginally on ISM
Reuters - CHICAGO, Jan 4 (Reuters) - U.S. short-term interest rate futures pared their early gains on Friday after a reading on U.S. services-sector activity fell by less than expected in December. Futures indicate traders see a 50 percent chance that ...
2008-01-04 10:24:00 -
Recession Fears Grow, But So Do Hopes for Rate Cut
CNBC - A worse-than-expected report on December job growth fueled worries about a U.S. recession but also heightened speculation of more interest-rate cuts. The Labor Department said only 18,000 new non-farm jobs were added last month, the weakest ...
2008-01-04 11:57:00 -
Foreclosure rate jumps 90%
Grand Rapids Press - Such mortgages work by offering a low introductory rate for a short period, say two years, before the interest rate begins to adjust. As a record number of adjustable rates reset on mortgages this year, payments skyrocketed and many homeowners couldn ...
2008-01-04 11:31:00 -
Job slump latest omen of recession
Los Angeles Times - The obvious "something" is further interest rate cuts by the Federal Reserve, but those could threaten renewed inflation, drive down the already weak dollar and even set the stage for another bubble such as the one now deflating in the housing market ...
2008-01-04 10:41:00 -
Experts weigh in on inflation rate
Turkish Daily News - Although Turkey's annual Consumer Price Index (CPI) rate in December remained unchanged at 8.4 percent, it is unlikely to encourage the Central Bank to change its cautious position on interest rates given this week's sharp increases in oil and other ...
2008-01-05 12:14:00 -
Fitch Rates Columbus, OH's $386MM Sewerage Revs & $52MM Sewerage Adj ...
Forbes - While bonds bear interest in the weekly rate, interest is payable on June 1 and Dec. 1, commencing June 1, 2008. During the weekly rate mode, bondholders have the right to tender their bonds on any business day with not less than a seven-day notice ...
2008-01-04 03:39:00 -
U.K. Pound Falls for Third Week Versus Euro on Housing Slowdown
Bloomberg - Traders added to bets policy makers will cut the highest main interest rate among the Group of Seven nations in the first half, futures prices showed. ``Credit data suggest the U.K. housing market has hit a brick wall,'' said Hans-Guenter ...
2008-01-05 01:33:00 -
Jobless report stirs fear
Boston Globe - To fend off the possibility of a recession, the Federal Reserve cut a key interest rate three times last year. The big question, said Stephen Stanley, chief economist at RBS Greenwich Capital: "Has the economy hit a big pothole or careened into the ...
2008-01-04 09:44:00 -
US RATE FUTURES-Pricing deep Fed cuts on recession fears
Reuters - CHICAGO, Jan 4 (Reuters) - U.S. short-term interest rate futures jumped on Friday after a weak employment report suggested the Federal Reserve could respond to a deteriorating economy by cutting rates early and often this year. Futures now price as ...
2008-01-04 02:27:00