Mortgage and Financial News From 2007-10-27 Page 7
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Mortgage crisis creates heartbreak, opportunities
Register-Guard - Dan Sugg, president of the Michigan Mortgage Lenders Association, said his industry recognizes the responsibility it shares in keeping homes out of foreclosure. Among other things, he said, it’s holding foreclosure-prevention workshops. “The ...
2007-10-27 10:01:00 -
Lenders 'aggressive' if given more info (Thursday Magnet)
People will be sold more high interest rate products if credit check agencies are allowed to give lenders extra information about borrowers, consumer groups say.
2007-10-27 08:06:27 -
Mortgage industry pushes for e-mortgages (The Bolingbrook Sun)
The dream of today's mortgage lenders and brokers: paperless e-mortgages. The Internet and the digital era have opened the door to almost everything else - why not replace those piles of mortgage paper documents with a fast and easy paperless digital system? It could save a lot of time, money and frustration. But there are formidable problems in its development.
2007-10-26 02:00:50 -
Mortgage woes propel Calif. foreclosures to record (Environmental News Network)
SAN FRANCISCO (Reuters) - Mortgage lenders launched more than 70,000 foreclosure proceedings in California in the third quarter, marking a record for the state, where many housing markets are slumping amid mortgage market turmoil, according to a report released on Friday. Mortgage lenders filed 72,571 notices of default against delinquent borrowers from July through September, up 34.5 percent ...
2007-10-27 09:32:24 -
A strategy to keep your prized stocks
Globe and Mail - And so, the bank agrees to lend him $1.4-million today, at an interest rate of 7.55 per cent. If you do the math, that loan will grow to be $2.9-million in 10 years if the interest accrues and William makes no interest or principal payments for the ...
2007-10-27 08:13:00 -
Mexico hikes interest rates
Buenos Aires Herald - MEXICO CITY — Mexico's central bank yesterday unexpectedly raised its key interest rate for the first time in six months to dodge a potential spike in inflation caused by high global food prices. The bank said pressures on food prices have ...
2007-10-27 05:15:00 -
UBI shines in Q2, but slow growth in net interest income a concern
Economic Times - However, employee cost has gone up by 30%, higher than sales growth rate. Interest cost has gone up nearly six times, but is still less than 1% of operating profit. Further, most of it is because of advances received from clients on which the ...
2007-10-27 08:49:00 -
Gulf Arab rate policy must match dollar pegs: IMF
Economic Times - Saudi Arabia and four of its neighbours peg their currencies to the dollar, but parted ways last month on their traditional policy of tracking U.S. interest rate moves to maintain the relative value of their currencies. "I think the relationship ...
2007-10-27 08:49:00 -
Asian stocks close mostly higher on US interest rate hopes
DAWN Group - HONG KONG, Oct 26: Asian stocks closed mostly higher on Friday as investors continued to buy up equities in anticipation of a cut in US interest rates being made next week. Most in the markets believed the Federal Reserve will announce a 25 basis ...
2007-10-27 05:57:00 -
Retailers still happy, despite interest rates
New Zealand Herald - Retailers need not fret about the Reserve Bank keeping interest rates high because there are signs that the Christmas period will be robust, economists say. The Reserve Bank stayed true to market expectations by keeping the official cash rate at 8.25 ...
2007-10-27 09:18:00 -
PNB revises interest rate on fixed deposits
Economic Times - NEW DELHI: State-run Punjab National Bank on Saturday announced a 50 basis point increase in interest rates on fixed deposits for term of 1-2 years while slashing rates by 25 basis points on various other maturities. Interest rate has gone up by 50 ...
2007-10-27 05:57:00 -
Mortgages hit home
News.com.au - The relentless pressure of nine consecutive interest rate rises in six years and soaring house prices have combined to leave many homeowners on their knees. And with the Reserve Bank pondering another rate rise next month – to 6.75 per cent – on ...
2007-10-27 08:42:00 -
Pound Declines for Third Week Against Euro on Outlook for Rates
Bloomberg - The ECB's main interest rate is 4 percent, compared with the Bank of England's 5.75 percent benchmark rate. U.K. government bonds advanced this past week as losses by U.S. banks stoked appetite for the safest assets. The yield ...
2007-10-27 07:16:00 -
Rulers review FX union date as Fed cut splits Gulf
Reuters India - JEDDAH, Saudi Arabia (Reuters) - Gulf Arab rulers will decide in December whether to delay monetary union among six oil producers that are divided over how to respond if more U.S. interest rate cuts test currency pegs to the sliding dollar. Gulf ...
2007-10-27 10:37:00 -
Rudd spinning out of control
News.com.au - In line with its whatever-it-takes politics, Labor has been running an unrelenting - but highly misleading - campaign emphasising interest-rate rises under the Howard Government. Brought to you by former Carr spinmeister Walt Secord and the Hawker ...
2007-10-27 09:39:00