Mortgage and Financial News From 2008-2-20
Previous Day: 2008-02-19
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NR plan shows UK taxpayers silver lining, says New Star (Money Marketing Online)
The nationalisation of Northern Rock could prove highly profitable for UK taxpayers, says New Star economist Simon Ward.
2008-02-20 03:58:30 -
US MBA Mortgage Survey Table Of Current Interest Rates (The Forex Market)
Change in Contract Rate (bps) Effective Total Contract 1 Week 4 Weeks 1 Year Rate Points Rate Ago Ago Ago 30-Year Fixed 6.31 1.10 6.09 37 60 -10 15-Year Fixed 5.82 1.08 5.55 37 59 -34 7-Year Balloon 4.86 0.88 4.64 31 20 -70 5-Year Balloon 5.46 1.00 5.20 42 36 -77 ARM, 1-Yr Tsy 5.95 0.91 5.72 0 21 -9 FHA 203 (b) 6.17 1.01 6.00 20 43 -27 All rates except FHA 203(b) are for 80% loan-to-value ...
2008-02-20 04:06:35 -
ALL BUSINESS: Sapping the American dream (El Paso Times)
NEW YORK—It's not just subprime borrowers who are defaulting on their mortgages these days.
2008-02-20 04:09:01 -
Fundamentalist views: Richard Woolnough (Daily Telegraph)
For the first time in two years, I am in a bullish mood.
2008-02-20 04:44:02 -
Truck Jackknifes, Coils Kill Driver From Illinois (NBC 5 Chicago)
An Illinois man died instantly in a multiple vehicle crash Tuesday after the steel coils on his flatbed trailer hurled into his truck cabin.
2008-02-20 04:45:15 -
A&L writedown hits profits, funding costs jump (Reuters via Yahoo! News)
British bank Alliance & Leicester suffered a double blow from global financial market turmoil on Wednesday, warning a big rise in funding costs would dent 2008 profit after a writedown on risky assets hit 2007.
2008-02-20 04:46:05 -
Commentary: Prepare for the worst, hope for the best
Marketwatch - This would hit the dollar and spike equities, at least until interest rates rose to levels deemed attractive as an ... Hidden behind proposed bailouts, stimulus packages, super-conduits, term auction financing, mortgage rate freezes, foreclosure ...
2008-02-19 10:15:00 -
Fed Aids Paulson, Japan's Short Hair, Australian Heat: Timshel
Bloomberg - Higher interest rates have long been the primary brake that the People's Bank of China used to cool the fastest-growing ... largest financial-services company by market value, posted a 54 percent drop in profit because of losses on U.S. mortgage ...
2008-02-19 12:21:00 -
Subprime loans defaulting even before resets
CNN Money - ... many borrowers started out with low- or no-down payment loans, which left them with almost no equity in their home ... Their cost of borrowing money was rising, while competitive pressures were keeping mortgage interest rates low. "Lending had been ...
2008-02-20 03:01:00 -
A Gift Horse For Fannie & Freddie?
Forbes - It was billed as a win for mortgage borrowers, the housing market and mortgage ... to buy or guarantee mortgages worth up to 125% of an area's median home price--to ... much-needed infusion of lending capacity and help bring down jumbo loan rates ...
2008-02-20 03:01:00 -
European shares fall more than 1 percent, A&L tumbles
Reuters South Africa - Investing Home ... fuelled fears inflation could limit the scope for major central banks to cut rates ... that said it had delayed repayment of debt backed by mortgage-backed securities for ...
2008-02-20 12:38:00 -
Borrowers on 125% home loan deals face big jump in repayments
Times Online - Alliance & Leicester said that it would stop selling its 125 per cent Plus-Mortgage home loans ... is that no-one should be able to borrow more than 4 X their income as interest rates will always vary over the life of a typical 25 year mortgage.
2008-02-19 11:27:00 -
Mortgage lending lift in January
BBC Business - Gross mortgage lending rose in January despite an unsettled housing market, according ... Home buyers might be more inclined to transact if their moving costs were reduced ... opportunity to address this by raising stamp duty thresholds and cutting the rates ...
2008-02-20 02:54:00 -
UK Jan gross mortgage lending up 11 pct from Dec - CML UPDATE
Forbes - LONDON (Thomson Financial) - UK gross mortgage lending recovered in January after a sharp drop in December ... Coogan called upon the government to help relieve some of the pressure on home buyers by cutting the rates of stamp duty and raising ...
2008-02-20 02:04:00 -
ING Profit Rises 18% as Company Avoided Writedowns (Update3)
Bloomberg - Banks worldwide have booked more than $146 billion of writedowns and credit losses during the U.S. subprime mortgage market ... Beijsens rates ING a ``buy.'' Earnings per share rose to 1.18 euros from 98 cents a year earlier, ING said in a ...
2008-02-20 02:26:00