Mortgage and Financial News From 2007-9-7 Page 16

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  • U.S. foreclosure rate hits new high

    Indianapolis Star - ... warned the situation will get worse in coming months as an estimated 2 million adjustable-rate mortgages taken out with low introductory interest ... The delinquency rate for prime loans, offered to borrowers with good credit histories, also increased ...
    2007-09-06 11:54:00

  • Commentary - Subprime rescue may be inevitable

    Jamaica Gleaner - On the other hand, a prime borrower would usually have a fixed interest rate loan with no pre-payment clause. Investors stood to gain much more in the subprime market and it flourished. Hostile takeover A few weeks ago, Countrywide activated more than ...
    2007-09-07 01:13:00

  • ECB rate decision welcomed as 'breath of fresh air'  

    EurActiv.com - ... to raise its main interest rate from 4% to 4.25% in order to limit potential inflation caused by steady growth in the eurozone. But in early August, international financial markets went into a brief tailspin as a growing number of "sub-prime ...
    2007-09-06 11:54:00

  • BoE keeps interest rates on hold

    IC Wales - ... that further interest rate increases should now be off the agenda, at least for the time being.” The MPC opted to wait and see at today’s meeting after global stock markets were rocked by fears over exposure to higher defaults from US sub-prime ...
    2007-09-07 12:30:00

  • OECD calls for US rate cut to ward off crisis

    Daily Telegraph - The OECD club of rich nations has called on the US Federal Reserve to cut interest rates to stave off a credit crunch, warning the sub-prime crisis could trigger a serious global downturn. "Downside risks have become more ominous. What we had not ...
    2007-09-06 12:49:00

  • More subprime borrowersfall behind on repayments

    Financial Times - Most of the rise in foreclosures came from growing numbers of seriously delinquent adjustable-rate subprime, and prime, mortgages. Adjustable-rate mortgages are home loans with interest rates that can be changed by lenders. "Higher foreclosures will ...
    2007-09-06 07:01:00

  • Subprime woes: OECD suggests rate cut

    Times of India - DUBLIN: The OECD on Wednesday reduced its forecast for US economic growth and recommended a rapid cut in interest rates to limit the fallout from a housing and mortgage market slump that has sparked global financial market turmoil. In an update to ...
    2007-09-06 02:00:00

  • Another rate hike likely in 2007 - economists

    News.com.au - Prime Minister John Howard has said he will call the election well before Christmas, meaning the election is likely to be ... And given that consumers aren't spending like there is no tomorrow, (and not) driving up inflation, an interest rate hike would ...
    2007-09-07 01:13:00

  • Swedish Central Bank Raises Key Rate

    CNBC - STOCKHOLM, Sweden - Sweden's central bank on Wednesday raised its key interest rate by a quarter of a percentage point to an ... These developments are linked to the problems in the U.S. sub-prime market," it said. "It is reasonable to assume that ...
    2007-09-07 01:06:00

  • Swedish central bank raises interest rates (TODAYonline)

    Bank of Sweden (Riksbank) governor Stefan Ingves, seen here in 2006, has announced that the Swedish central bank has decided to raise its key interest rate by a quarter of a percentage point to 3.75 percent to counter inflationary pressures.
    2007-09-07 02:59:24

  • Swedish Central Bank Raises Key Rate (AP via Yahoo! Finance)

    Sweden's central bank on Wednesday raised its key interest rate by a quarter of a percentage point to an expected 3.75 percent and signaled further hikes ahead.
    2007-09-07 01:10:34

  • Experts welcome interest rate freeze (icWales)

    HOMEOWNERS were yesterday spared another hike in borrowing costs as the Bank of England opted to freeze interest rates at 5.75% for the second month in succession.
    2007-09-07 01:43:38

  • Swedish central bank raises interest rates (AFP via Yahoo! News)

    The Swedish central bank Riksbank said on Friday it has decided to raise its key interest rate by a quarter of a percentage point to 3.75 percent to counter inflationary pressures.
    2007-09-07 02:24:08

  • MGM investor to borrow $5.2bn

    Gulf Daily News - The DP World loan is to refinance debt, company spokeswoman Sarah Lockie said. Credit Suisse, Royal Bank of Scotland and Deutsche Bank are arranging the Dubai World loan. Royal Bank of Scotland, Deutsche, Citigroup and Barclays are arranging DP World ...
    2007-09-06 11:33:00

  • Foreclosure notices hit record high

    Charlotte.com - Borrowers who fall behind on payments often can't refinance because the mortgage market has dried up. And they often can't sell because real estate prices are falling. The MBA said about 1 in 20 borrowers nationwide have fallen behind on payments ...
    2007-09-06 11:26:00

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