Mortgage and Financial News From 2007-12-18 Page 4

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  • David Prosser's Outlook: Inflation will be back before you know it

    The Independent - ... in November for the second month running, we can all presumably relax this Christmas, happy in the knowledge that interest rate ... Not doing so would be a political scandal the Prime Minister and his Chancellor could do without. Still, the Governor ...
    2007-12-18 04:06:00

  • Zuma clenches the top ANC job

    Talk Radio 702 - Putin says he’s ready to become prime minister 18/12/2007 06:55:31 Vladimir Putin says he's ready to become the country's prime minister if his close ally Dimitri Medvedev succeeds him as president. It gives Putin a way to keep a grip on power after ...
    2007-12-18 01:50:00

  • UPDATE 3-Fed proposes new mortgage protections

    Forbes - A 30-year Treasury bond is yielding around 4.55 percent, for instance, and so a "high-cost" 30-year mortgage loan would today have an interest rate of 7.55 percent or higher. (Reporting by Patrick Rucker; Editing by Neil Stempleman) Copyright 2007 ...
    2007-12-18 08:28:00

  • The Fed Offers Its Protection

    Forbes - In addition to having higher interest rates than prime-rate loans, subprime loans often come with higher fees. And, unlike prime-rate loans, which are similar from lender to lender, subprime loans can vary greatly. Still, the proposals are expected to ...
    2007-12-18 03:23:00

  • UPDATE 4-Fed proposes mortgage rules to protect borrowers

    Forbes - No "prepayment penalty" would apply, for instance, if a loan is refinanced less than 60 days before its interest rate resets higher. The proposed rules also would require that borrowers receive details on their brokers' compensation and be billed ...
    2007-12-18 02:54:00

  • Bernanke's plan to avoid sub-prime repeat

    Daily Telegraph - ... and see the Fed take on considerable authority for the mortgage market, more so than it has in the past. The proposal would relate to loans where the interest rate is 3pc higher than the current Treasury rate - therefore focusing on sub-prime ...
    2007-12-18 04:42:00

  • Bernanke's plan to avoid sub-prime repeat (Daily Telegraph)

    Federal Reserve chairman Ben Bernanke has laid out a detailed plan to stop mortgage lenders from conducting the type of practice that led to the current sub-prime mortgage crisis.
    2007-12-18 04:47:01

  • UK banks secure cheap rate in £10bn auction (Times Online)

    British banks scrambled today to take part in a £10 billion auction by the Bank of England that lent 75 per cent of the liquidity injection at below its own interest rate.
    2007-12-18 08:50:57

  • James Hardie, Rio, Westfield, Woodside: Australia Stock Preview

    Bloomberg - Centro said Dec. 17 it was struggling to refinance debt because of the collapse of the U.S. subprime mortgage market and that it will have to sell assets to stay afloat. Aurora was unchanged at A$9.25 yesterday. Herald Resources Ltd. (HER ...
    2007-12-18 01:57:00

  • Fed's New Rules On Mortgages Draw Hostility

    Wall Street Journal - For years, home-price gains masked the repercussions of these decisions because borrowers who fell behind could easily sell their homes for more than they owed or refinance with even easier terms. As home prices flattened out and began to fall last ...
    2007-12-18 08:09:00

  • Growth fears spur drop

    International Herald Tribune - The S&P/ASX 200 in Australia dropped 0.4 percent. Centro Properties, which owns 700 shopping malls in the United States, plunged for a second day in Sydney after saying it is struggling to refinance debt because of the subprime credit market collapse
    2007-12-18 03:02:00

  • Bond risk hits record on Centro

    International Herald Tribune - Centro must refinance 1.2 billion Australian dollars, or $1 billion, of debt and the trust, Centro Retail, 2.7 billion dollars by Feb. 15, according to Standard & Poor's. Centro suspended dividends and said it would have to reduce its debt and might ...
    2007-12-18 03:02:00

  • Up-and-down start for market

    News.com.au - Australia's second largest shopping centre owner has become the latest local victim of the global credit squeeze, after it was unable to refinance about $1.3 billion in maturing debt. Bell Potter senior adviser Stuart Smith said the local market ...
    2007-12-18 04:13:00

  • Stocks stay low despite US lead

    News.com.au - Australia's second largest shopping centre owner has become the latest local victim of the global credit squeeze, after it was unable to refinance about $1.3 billion in maturing debt. Bell Potter senior adviser Stuart Smith said the local market ...
    2007-12-18 04:13:00

  • Delta Financial gets ok to pay last employees

    Newsday - The company, based in Woodbury, New York, specialized in making loans to people who wanted to consolidate debt, refinance a mortgage or pay for a home improvement, the company said in court papers. Founded in 1982, Delta packaged loans into ...
    2007-12-18 03:37:00

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