Mortgage and Financial News From 2008-3-16 Page 5

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  • Northern Rock set to lose thousands of jobs to earn EU approval

    Times Online - About 5 per cent of borrowers on fixed-rate loans say that they have no idea how they will meet their mortgage repayments when their current deal expires, according to Mortgage Monitor, the online broker.
    2008-03-16 02:16:00

  • Banks tighten borrowing rules

    News.com.au - Aussie Home Loans founder John Symond said yesterday the banks' new strategy, driven by a squeeze on profit margins because of the higher cost of funding loans, would result in some borrowers being locked out of the mortgage market.
    2008-03-16 05:22:00

  • Sunday surprise: Fed steps into credit crisis

    CNN Money - The interest rate will be 3.25% and a range of collateral - including investment-grade mortgage backed securities - will be accepted to back the loans.
    2008-03-16 05:29:00

  • Jumbo mortgage loan rates coming down slowly

    San Francisco Gate - But now rates on conforming loans, the bread and butter of the mortgage industry, are also becoming elevated. The average rate on standard conforming loans - first mortgages smaller than $417,000 eligible for sale to Fannie Mae or Freddie Mac - is ...
    2008-03-16 03:20:00

  • Federal Reserve cuts primary credit rate, offers quick aid to brokers (Channel NewsAsia)

    WASHINGTON: In a rare Sunday action aimed at heading off a new market upheaval, the Federal Reserve cut a key rate for direct loans to certain financial institutions and said it would offer immediate liquidity to the brokerage system.
    2008-03-16 06:33:05

  • Asian Bank Shares Decline on Concern Losses May Mount (Update1) (Bloomberg.com)

    March 17 (Bloomberg) -- Asian banking stocks including Macquarie Group Ltd. fell on concern losses from the subprime mortgage-sparked credit crisis will mount after U.S. securities firm Bear Stearns Cos. ran out of cash.
    2008-03-16 06:36:45

  • JP Morgan to buy Bear Stearns for $2/share (WTHR Indianapolis)

    JPMorgan Chase said Sunday it will acquire rival Bear Stearns for a bargain-basement $236.2 million.
    2008-03-16 06:37:43

  • Barry Diller Conquered. Now He Tries to Divide. (NYTimes.com via Yahoo! Finance)

    IAC/InteractiveCorp, Barry Diller’s collection of Internet-focused companies including Ticketmaster and Expedia, is floundering.
    2008-03-16 06:39:32

  • Fed takes new steps to ease financial crisis (Charleston Daily Mail)

    WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke said new steps announced by the central bank Sunday should help squeezed financial institutions get cash infusions-- a fresh effort to provide relief to a spreading credit crisis that threatens to plunge the economy into recession.
    2008-03-16 06:40:23

  • Snow kept buyers away

    The Province - Housing affordability fell across the country in 2007 to end the year at its lowest level since 1990, said the report's ... Looking ahead, falling mortgage rates, weakening house price gains and decent income growth should all lead to improved ...
    2008-03-16 01:37:00

  • The hidden pain of inflation

    Stuff - ... such as petrol, household energy, local authority rates ... said rises in essentials hit those with the lowest disposable income hardest as they spend a high proportion of their income on the basics.
    2008-03-15 12:30:00

  • Bear Stearns: the banking twister heading your way

    Times Online - It has written down more than $2 billion in exposure to mortgage securities. ... since the second world war, partly because aggressive cuts in interest rates by ... Last week Bear Stearns’s shares plummeted to $26.96, their lowest since April ...
    2008-03-15 02:03:00

  • Soybeans Plunge as Wall Street Turmoil May Slow Investor Demand

    Bloomberg - ... oil futures for May delivery dropped 2 cents, or 3.2 percent, to 60.56 cents a pound, and the lowest ... 190 billion of asset writedowns and credit losses caused by the collapse of the U.S. subprime-mortgage market -- are raising borrowing rates and ...
    2008-03-14 03:08:00

  • U.K. Two-Year Yield Near 4 1/2-Year Low on Bear Stearns Bailout

    Bloomberg - ... as much as 53 percent in New York Stock Exchange composite trading to the lowest in ... pace of any interest- rate cuts, even as the fallout from the U.S. subprime-mortgage ... We're less dovish than the market on how much the Bank of England will lower rates ...
    2008-03-15 02:07:00

  • Swiss Franc Rises to Parity With Dollar as Investors Avoid Risk

    Bloomberg - ... gained versus all 16 most-active currencies this year as the U.S. subprime-mortgage ... before global financial markets began tumbling in August as money-market rates ... Swiss borrowing costs are the lowest in the industrialized world after Japan's 0.5 ...
    2008-03-13 05:54:00

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