Mortgage and Financial News From 2007-9-7 Page 01

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  • Mortgage warning as credit turmoil continues

    Times Online - Melanie Bien, of Savills Private Finance, the mortgage broker, said: “The two-year swap rates, which usually determines the cost of fixed-rate home loans were relatively low at 6.18 per cent yesterday. But the 3-month Libor rate which lenders must ...
    2007-09-07 12:05:00

  • Stocks Drop After Weak Jobs Report

    Newsday - Get Home Delivery ... was holding up under the weight of a faltering housing market, a rise in mortgage ... Brothers Holdings Inc., referring to whether the central bank would reduce rates ...
    2007-09-07 01:02:00

  • Move to offer Bankrate mortgage-related information on Web site

    CNBC - Move's Web site Move.com will offer mortgage and home-equity rate data from Bankrate. Rate tables compare mortgage products, interest rates and fees. The information will be located on Move.com's finance channel. Move Inc.'s share fell 35 cents, or 12 ...
    2007-09-07 01:02:00

  • Pending home sales at lowest since 2001

    Dallas Morning News - Pending home sales at lowest since 2001 03:25 PM CDT on Wednesday, September 5, 2007 ... be packaged into securities sold to investors by government-sponsored mortgage ... lenders making jumbo loans have demanded that borrowers pay higher rates ...
    2007-09-04 05:59:00

  • Mortgage delinquency climbs in Pennsylvania

    Pittsburgh Post-Gazette - Thousands of Pennsylvanians are among the growing number of homeowners nationwide stuck with higher mortgage payments as interest rates ... Prime loans, which are given to consumers with the best credit ratings, accounted for the lowest percentage of ...
    2007-09-07 12:05:00

  • U.S. Stocks Retreat on Payroll Drop; Bear Stearns, Alcoa Fall

    Bloomberg - A gauge of homebuilders fell to the lowest in four years after Beazer Homes USA Inc ... fifth-biggest U.S. securities firm to ``neutral'' from ``buy'' on concern mortgage ... Hoenig and Poole are voters on the Federal Open Market Committee, which sets rates ...
    2007-09-07 12:05:00

  • U.S. Economy: Employment Unexpectedly Drops in August (Update7)

    Bloomberg - ... will be forced to reduce interest rates to counter an economic slowdown. The drop in employment, following a month-long increase in the cost of credit prompted by losses in the mortgage market ... 14 basis points to 4.37 percent, the lowest ...
    2007-09-07 12:05:00

  • Stocks End Week With Broad Selloff On Recession Fears

    CNBC - ... that the Federal Reserve won't be aggressive enough in cutting interest rates ... The Dow, at its lowest levels since Aug. 28, is now 6.3% off its all-time record ... We're in the summer with the peak of subprime mortgage resets coming due ... the ...
    2007-09-07 01:02:00

  • Treasuries Soar as First Jobs Loss Since 2003 Suggests Rate Cut

    Bloomberg - Yields on the notes tumbled to the lowest since September 2005, extending their ninth ... to limit the adverse economic effects of higher borrowing costs stemming from mortgage defaults. ``Bernanke now has the ammunition to cut rates ...
    2007-09-07 12:05:00

  • Good news and not-so-good news on home front (The Record)

    WASHINGTON -- Rates on 30-year mortgages fell this week to the lowest level in three months. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.45 percent.
    2007-09-07 09:55:54

  • 5 ways to know if the bull is over

    CNN Money - Since Money Magazine last examined the health of the bull market (and pronounced it sound), consumer spending began slowing, several prominent buyout deals unraveled, and oh yeah - concerns about subprime mortgage loans going bad caused stocks to ...
    2007-09-07 11:57:00

  • Pending sales of homes fall off

    Baltimore Sun - Some home purchases aren't closing because mortgage loans have been "falling through at the last moment," Yun said in a statement. A survey of 1,700 mortgage brokers to be released this week and sponsored by trade publication Inside Mortgage Finance ...
    2007-09-07 12:40:00

  • IndyMac Bancorp Shares Fall; Sees Third-Quarter Loss

    CNBC - IndyMac made $48.1 billion of mortgage loans from January to June, ranking ninth nationwide, according to the Inside Mortgage Finance newsletter. Long a specialist in "Alt-A" loans that fall between prime and subprime in quality, IndyMac is changing ...
    2007-09-07 11:57:00

  • Aussies warned over luxury loans

    News.com.au - ONE of Australia's largest mortgage brokers, Mortgage Choice, is urging borrowers to consolidate debts to counter the impact of interest rate rises and luxury high-interest loans. National manager of corporate affairs for Mortgage Choice Warren O ...
    2007-09-07 01:45:00

  • Bankruptcy for American Home Mortgage

    Newsday - ... on $5.2 billion in Fannie Mae loans American Home Mortgage Investment Corp., the bankrupt Melville-based lender, has struck an agreement that will allow it to continue servicing a crucial portfolio of $5.2 billion in government-backed mortgage loans.
    2007-09-07 11:57:00

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