Mortgage and Financial News From 2007-9-14 Page 01

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  • Countrywide tries to regain footing atop shaky mortgage industry

    Austin American-Statesman - Countrywide tries to regain footing atop shaky mortgage industry Several analysts ... Countrywide dominated the industry when interest rates began to plummet at the start ... ago with fellow New Yorker David Loeb, taking the fledgling company public only ...
    2007-09-14 07:13:00

  • Fed cut to interest rates could bring consumers lower borrowing costs ...

    San Diego Union-Tribune - NEW YORK – Wall Street players aren't the only ones with a lot riding on whether the Federal Reserve cuts interest rates on Tuesday – Main Street could ... Fed meets,” said Darin Hardin, owner of San Clemente, Calif.-based Coastal Hills Mortgage ...
    2007-09-14 01:29:00

  • Banking shares suffer amid fears of another Northern Rock

    Guardian Unlimited - Though we will not be the only ones." He said he expected to see a tightening of lending criteria and higher interest rates across all mortgage lenders. "Whatever the bank base rate is, you are going to see higher mortgage interest rates," he said. ...
    2007-09-14 06:16:00

  • UPDATE 7-UK props up wounded mortgage lender Northern Rock

    Reuters - ... Sept 14 (Reuters) - Britain's financial authorities stepped in to rescue mortgage ... acted as lender of last resort in this way since becoming independent on interest ... hands-off response to market turmoil, said Northern Rock was solvent and only ...
    2007-09-14 12:46:00

  • Concerned customers are urged to calm down

    Financial Times - The British Bankers’ Association moved swiftly to allay the fears of mortgage ... Only 28 per cent of its funds are from deposits. The strategy has left it ... financial markets no longer believe that the Bank of England will raise interest ...
    2007-09-14 08:39:00

  • Are you throwing your money down the drain?

    Guardian Unlimited - Someone with a 25-year, £100,000 interest-only mortgage who is sitting on a typical SVR of 7.75%, is currently forking out £645.83 a month. "Currently-available tracker, discounted and two-year fixed mortgage offers mean they could feasibly switch ...
    2007-09-14 03:53:00

  • Mortgage turmoil hits renters' wallets

    USA Today - ... says there are 9 million extremely low- income renter households and only 6.2 ... The home mortgage crisis has received far more notice, but experts say the ranks of ... Stamford and boomtowns like it should tackle the housing crisis out of self-interest
    2007-09-14 03:24:00

  • Stocks Idle as a Big Week Looms

    Wall Street Journal - Federal Reserve policy makers gather Tuesday to deliberate on interest rates. Also Tuesday, Lehman Brothers Holdings releases ... THE FULL WSJ.com ARTICLE IS ONLY AVAILABLE TO SUBSCRIBERS. • ...
    2007-09-14 01:36:00

  • How to survive the credit crunch

    Daily Telegraph - If you are in a position to pay more than your mortgage lender requires - even if it is only by a small amount each month - you should do so. Overpaying can save you thousands of pounds in interest and cut years off your mortgage term. Our ...
    2007-09-14 06:37:00

  • 'Takeover may be Rock's only hope'

    The Independent - Northern Rock, the once-booming mortgage bank, has a choice between stagnating or ... We see a strategic partnership or full take-out of the business as the only ... It gave no guidance for 2008, when a large number of its fixed-interest mortgages ...
    2007-09-14 05:26:00

  • Oil Falls After Setting Another Record

    Newsday - Kloza noted that nearly 600 million barrels of benchmark West Texas crude oil were traded Thursday on the Nymex, but that actual daily production of West Texas crude is only about 200,000 barrels. Tropical weather has also been widely cited as ...
    2007-09-14 04:57:00

  • Car-Buying Spurt Helps Retail Sales

    Baltimore Sun - Analysts said the new economic reports released Friday give the Federal Reserve more reasons to cut a key interest rate when ... Gramley said the slump in housing sales and construction would become more severe in coming months as mortgage defaults dump ...
    2007-09-14 04:57:00

  • Bankruptcy looming for overstretched borrower

    Guardian Unlimited - He turned to Rock for a 125%, interest-only mortgage. Then his personal finances, on a shaky footing since his university days, spiralled out of control, ending in him being refused credit. On top of the mortgage, he had personal and credit card ...
    2007-09-14 06:16:00

  • BoE props up wounded mortgage lender (AAP via Yahoo!7 Finance)

    Britain's financial authorities have stepped in to rescue mortgage lender Northern Rock as the group, fell victim to the sharp rise in borrowing costs.
    2007-09-14 02:21:11

  • UK props up wounded mortgage lender (TVNZ)

    Britain's financial authorities stepped in to rescue mortgage lender Northern Rock as the group, which has lent aggressively to home buyers, fell victim to the sharp rise in borrowing costs between banks.
    2007-09-14 06:22:18

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