Mortgage and Financial News From 2007-10-5 Page 17

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  • Fewer homes for sale after Hips

    This is Money - In the current climate of higher interest rates and tightening mortgage lending, the Government needs to take stock of the impact that HIPs is having on the housing market, and refocus on the need for genuine reform of the home buying and selling ...
    2007-10-05 08:40:00

  • European banks hold key rates steady

    Philadelphia Inquirer - ... the banks wanted more time to assess how great an effect the U.S. subprime-mortgage ... The ECB and the Bank of England had been expected to raise rates in September ... or early next year. Britain's economy had been growing strongly before the current ...
    2007-10-04 11:57:00

  • Business Minute: Stocks rally...unemployment ticks up...Merrill's ...

    Idaho8.com - This Week in House and Home House & Home Main Today's Mortgage Rates In the Know Movie Listings Personal Finance This Week in Money ... NEW YORK (AP) - Merrill Lynch says that credit and mortgage woes will lead to a third-quarter loss of up to 50 cents per ...
    2007-10-05 04:22:00

  • US home builder ratings likely to worsen - Moody's

    Reuters - With shocks from a subprime mortgage crisis continuing and customers still ... this year, Moody's has cut ratings on 12 of the 22 U.S. home builders it rates ... It is no longer debatable that current industry conditions are far worse and ...
    2007-10-05 08:40:00

  • Job loss erased, but danger lurks

    CNN Money - ... in jobs, as home builders slammed the brakes on new construction after the August mortgage ... I think some [Fed members] aren't convinced they'll need to cut rates again." One factor arguing for more cuts is that the current level of hiring isn't ...
    2007-10-05 09:23:00

  • ECB, Bank of England sit tight on rates (Budapest Business Journal)

    Europe’s two leading central banks left interest rates on hold Thursday as they attempt to size up the economic fallout from the credit crunch unleashed by the US housing market crisis.
    2007-10-04 10:33:41

  • Knight and Finegold - the mortgage market’s dream team (Money Marketing Online)

    What with the gloomy market conditions and several mortgage commentators solemnly forecasting the demise of a number of lenders in the coming months, it is nice to have some positive news. ...
    2007-10-05 06:54:44

  • UPDATE 2-US home loan demand falls despite interest rate dip

    Reuters - ... reflecting a drop in demand for home refinancing loans, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications , which includes both purchase and refinance loans ...
    2007-10-03 08:42:00

  • DP World Plans $3.5 Billion Dubai Initial Share Sale (Update1)

    Bloomberg - Either DP World can go to the debt market to refinance, which will be hard given current market conditions and the size of the deal, or it can go for the IPO,'' said Joe Kawkabani, managing partner of Dubai-based Algebra Capital Ltd. ``So we think it ...
    2007-10-03 11:37:00

  • Subprime scare as Merrill writes off £2.8bn

    This is Money - Compare & buy... Share trading Isa brochures Loans Life insurance Credit cards Mortgage finder Annual ... Merrill Lynch said the loss was down to bad investments in mortgages and ... the near future is difficult to predict due to 'continued challenges' in credit ...
    2007-10-05 07:57:00

  • Merrill Lynch to write down US$5.5-billion

    National Post - NEW YORK -- Merrill Lynch & Co. said on Friday it would write down US$5.5-billion for bad bets ... fixed income, currencies and commodities, and Dale Lattanzio of the company's structured credit unit, had left the firm. Merrill Lynch's subprime mortgage ...
    2007-10-05 07:57:00

  • WaMu Braces for Mortgage Losses, Warns

    Smart Money - The Seattle company is the latest to give details on how bad the summer's credit crunch whacked its ... sell that instead were moved to the company's investment portfolio due to the credit-market seizure that essentially dried up demand for mortgage ...
    2007-10-05 06:02:00

  • Bank writedowns? It's hardly a surprise

    Globe and Mail - The bad news is that it's hard for UBS (or any other bank, like Royal Bank of Canada ) to expand in those areas ... Then - kaboom! - along comes a financial catastrophe like the subprime mortgage meltdown or a credit crunch. Or a wrong bet on a commodity ...
    2007-10-05 03:25:00

  • Washington Mutual Says Third-Quarter Profit Fell 75% (Update2)

    Bloomberg - ... in almost nine years because Washington Mutual set aside $975 million on a pretax basis to cover bad ... S. bank, said earlier this week that profit for the quarter fell 60 percent after $5.9 billion of credit and trading losses on loans and mortgage ...
    2007-10-05 07:28:00

  • Merrill to write down $5.5 billion

    Washington Post - ... Merrill Lynch & Co (MER.N) said on Friday it would write down $5.5 billion for bad bets on ... fixed income, currencies and commodities, and Dale Lattanzio of the company's structured credit unit, had left the firm. Merrill Lynch's subprime mortgage ...
    2007-10-05 07:49:00

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