Mortgage and Financial News From 2007-8-19 Page 25
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Sector Wrap: Mortgage Lenders
Boston Globe - NEW YORK -- Shares of mortgage lenders surged Friday after the Federal Reserve slashed a key borrowing cost, potentially easing the crunch on an industry that is strapped for cash. The Fed on Friday morning cut the discount rate, which is what ...
2007-08-17 08:41:00 -
Jittery City urges investors not to panic, as mortgage lenders put ...
The Independent - The turmoil on the financial markets has hit British homebuyers and property owners with floating mortgages. They now face a rise in their borrowing costs after mortgage providers rushed to tighten their lending criteria. The global credit squeeze ...
2007-08-18 11:32:00 -
Lenders warn that higher costs will be passed on (Financial Times)
Subprime mortgage rates are being priced upwards and lenders are warning that mainstream rates could follow as the credit crunch gathers pace in the global debt markets.
2007-08-17 02:48:43 -
First Magnus, big mortgage lender, halts loans (Washington Post)
NEW YORK (Reuters) - First Magnus Financial Corp., one of the largest independent U.S. mortgage lenders, said on Thursday it has stopped funding home loans and taking mortgage loan applications because investors are not buying its loans.
2007-08-16 11:10:59 -
Mortgage market feels the squeeze (Financial Times)
The effect of the global credit squeeze has started to spread into the UK mortgage market. A number of subprime mortgage lenders this week increased their interest rates by up to 1 percentage point.
2007-08-18 04:01:10 -
How to survive the mortgage mess (The Plain Dealer)
What if your mortgage company goes out of business? What if your pre-approval to buy a home is through a lender that's on shaky ground? The closings of scores of mortgage lenders nationwide and the threat of more to come are a source of genuine concern for many consumers.
2007-08-18 09:08:10 -
In mortgage crunch, Lincoln better off than most areas (Lincoln Journal Star)
Foreclosures are up in Lincoln and lenders are more careful about who they lend to, but the reported national crisis in the mortgage industry is not occurring here, according to people in the industry.
2007-08-18 05:39:58 -
Fed opens cash spigot as mortgage lenders reel from credit crisis (AFP via Yahoo! News)
The Federal Reserve injected more cash into the stressed US financial system Wednesday as some mortgage lenders said they were reeling from a broadening credit crisis.
2007-08-15 09:46:59 -
Jittery City urges investors not to panic, as mortgage lenders put squeeze on homeowners (Independent)
The turmoil on the financial markets has hit British homebuyers and property owners with floating mortgages. They now face a rise in their borrowing costs after mortgage providers rushed to tighten their lending criteria.
2007-08-18 11:06:31 -
Sector Wrap: Mortgage Lenders (AP via Yahoo! Finance)
Shares of mortgage lenders surged Friday after the Federal Reserve slashed a key borrowing cost, potentially easing the crunch on an industry that is strapped for cash.
2007-08-17 08:25:38 -
Little-known loan program lures homeowners to downtown Omaha
Omaha World-Herald - I was actually able to purchase a lot more because of the lower interest rate," Curtis said, explaining that he landed a $133,000 condo at a fixed 4.99 percent interest rate. "I was able to go from a fifth-floor view of the First National Bank to a ...
2007-08-19 01:05:00 -
Hopes high for rare inter-meeting Fed rate cut
Reuters - CHICAGO, Aug 16 (Reuters) - Hopes for the Federal Reserve to make a rare inter-meeting interest rate remain high as an ugly global debt crisis continues to play out. For a sixth straight day financial markets are reeling from a widespread liquidity ...
2007-08-16 07:52:00 -
Relief for homebuyers promised by sign that base rate has peaked
Times Online - Hopes that interest rates may have reached a peak, providing some respite for hard-pressed homebuyers, soared yesterday after news that the Bank of England’s Monetary Policy Committee (MPC) voted unanimously to peg base rates a fortnight ago. Most ...
2007-08-16 12:54:00 -
Fed gets message, lowers key rate
Los Angeles Times - WASHINGTON -- In an about-face Friday from only 10 days earlier, the Federal Reserve expressed concern that a sudden freeze-up in the financial markets could hurt the economy, trimmed one of its key interest rates and hinted that more help could be ...
2007-08-18 07:25:00 -
Fed interest cut boosts markets
CNN - The Fed stepped in to another day of falling stock markets to cut its primary discount rate by 50 basis points to 5.75 percent, saying financial market conditions had deteriorated and tighter credit threatened to restrain economic growth. The dollar ...
2007-08-17 01:24:00