Mortgage and Financial News From 2007-10-17 Page 6

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  • ACORN urges Minneapolis City Council's support for freeze on ...

    Minneapolis Star Tribune - ... into upcoming payments or shift the loans from adjustable to fixed-rate interest. But some people who just can't afford their mortgage ... She said a freeze would work well only if there's an increase in mortgage counseling. Tim Bendel, president of the ...
    2007-10-17 05:29:00

  • HOUSING DOWNTURN PERSISTS IN SEPTEMBER

    MSNBC - In large part, Patterson and others blame fallout from a nationwide mortgage industry crisis: too many socalled subprime loans made to buyers with risky credit and too many nontraditional loans, such as interest-only loans. When house payments for ...
    2007-10-17 10:34:00

  • Bank of England mulled Oct interest rate cut

    Daily Times - The Federal Reserve — faced with an immediate crisis in the low end of the US mortgage market — has cut interest rates by 50 basis points ... There had only been limited signs of slowing in the economy,” the minutes said. “Survey measures of ...
    2007-10-17 03:06:00

  • Mr. Tubbs

    American Reporter - Keep in mind that some of these bonds took advantage of the "interest-only" mortgage market in recent years; others react "inversely" to market conditions so you could actually own a bond which increases in value as interest rates rise. ...
    2007-10-17 05:37:00

  • Housing Slump Deepens, While Inflation Heats Up

    CNBC - ... about a deepening housing slump and prompting investors to boost bets on interest ... A separate report Wednesday showed mortgage applications rose for a second straight ... Late yesterday, futures prices implied only a 38 percent chance of a rate cut. ...
    2007-10-17 12:07:00

  • Has the Crunch Filtered Down to Consumers?

    Wall Street Journal - If banks are getting wobbly, the screws could be tightened with higher interest ... loss of 24 cents a share, partly due to a charge for closing its Greenpoint mortgage ... THE FULL WSJ.com ARTICLE IS ONLY AVAILABLE TO SUBSCRIBERS. • ...
    2007-10-17 05:29:00

  • Elumelu canvasses enabling environment for mortage financing

    Punch - He said that there was too much pressure on banks, sources of fund as only few of them engaged in mortgages, adding that the interest rates attached to mortgage loans were based on short-term funds. Prof. Isaac Megbolugbe of Johns Hopkins University ...
    2007-10-17 02:02:00

  • Gramercy Capital Corp. Reports Third Quarter 2007 Results; FFO of $0 ...

    Forbes - Approximately 55% of origination activity was comprised of first mortgage loans as ... During the quarter, Gramercy acquired for $142.8 million a 45% interest in a joint ... The live conference will be webcast in listen-only mode on the Company's web ...
    2007-10-17 04:46:00

  • Assumptions that were used in job projection report

    New Orleans Times-Picayune - ... economists in drawing a jobs forecast in the state for 2008 and 2009: • The national economy will avoid a recession and experience a "soft landing." • Interest rates will be basically stable, with the 30-year fixed mortgage rate rising only one ...
    2007-10-17 01:12:00

  • Treasurys advance on drop in housing starts

    CNN Money - ... starts and a Standard & Poor's downgrade of more than 1,700 classes of mortgage ... It may only be a matter of time until we see the broader economy weaken further ... Wednesday's sharp rally also may have reflected flight-to-safety interest after ...
    2007-10-17 02:23:00

  • Chancellor predicts housing slowdown as IMF warns of crash

    This is London - The Financial Services Authority has also warned that one in ten homebuyers is taking out an interest-only mortgage. These are popular because the monthly payments are cheaper, but a buyer must repay the original capital sum when the loan ends. The ...
    2007-10-17 05:08:00

  • Banks only slapping Band-Aid on credit crisis

    MSNBC - Banks only slapping Band-Aid on credit crisis Attempt to avert disaster will only ... WASHINGTON - A lifeline banks are extending to owners of mortgage-backed securities ... The result: higher interest rates and slower economic growth. The jury is out on ...
    2007-10-17 05:15:00

  • Fitch Ratings Affirms CSFB Series 1997-C1 (Business Wire via Yahoo! Finance)

    NEW YORK----Fitch Ratings has affirmed Credit Suisse First Boston Mortgage Securities Corporation's mortgage pass-through certificates, series 1997-C1 as follows: Interest-only class A-X at 'AAA'; $14.1 million class D at 'AAA'. $64.4 million class F at 'AAA'; $13.6 million class G at 'AAA'; $27.1 million class H at 'BBB'; $17 million class I at 'B'; $7.4 million class J remains at 'CC/DR4'.
    2007-10-17 07:39:00

  • Banks only slapping Band-Aid on credit crisis (MSNBC)

    A lifeline banks are extending to owners of mortgage-backed securities that have plunged in value will avert a near-term crisis but not necessarily a painful reckoning long term.
    2007-10-17 05:37:01

  • Assumptions that were used in job projection report (The Daily Comet)

    - The national economy will avoid a recession and experience a "soft landing." - Interest rates will be basically stable, with the 30-year fixed mortgage rate rising only one-half percentage point over 2008-09.
    2007-10-17 01:23:09

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