Mortgage and Financial News From 2008-5-7 Page 01
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U.S. stocks stumble - International Herald Tribune
A late Wednesday afternoon tumble sent U.S. stock markets to their worst close in nearly a month, as a swirl of unsettling financial and economic news unnerved investors who had enjoyed several weeks of relative calm after the winter's tumult. The ...
2008-05-07 05:11:00 -
Hope Arises for Housing-Bill Deal - Wall Street Journal
WASHINGTON -- Differences between the White House and Democrats in Congress over proposed housing-market legislation aren't "insurmountable," one of the administration's top economic advisers said Wednesday. The comments by Keith Hennessey, director ...
2008-05-07 07:41:00 -
Bush says he'll veto foreclosure relief legislation - Los Angeles Times
WASHINGTON -- President Bush declared Wednesday that he would veto the foreclosure relief legislation under consideration in Congress, surprising Democrats who believed that they had administration support for key portions of the bills. In brief ...
2008-05-07 07:55:00 -
BNC Bancorp Announces First Quarter Results - CNBC
THOMASVILLE, N.C., May 7, 2008 /PRNewswire-FirstCall via COMTEX/ -- BNC Bancorp (Nasdaq: BNCN) today reported that net income for the quarter ended March 31, 2008 declined 11.3 percent to $1.70 million from $1.92 million a year earlier. Diluted per ...
2008-05-07 07:02:00 -
Bovis warns after sudden slowdown - Financial Times
Bovis Homes issued a profit warning on Tuesday as it said reservations were down 30 per cent year-on-year since January. The housebuilder followed its peers Persimmon and Taylor Wimpey in saying the market had worsened in recent weeks and earnings ...
2008-05-06 12:22:00 -
6 Ways to Earn More on Your Savings - US News and World Report
For anyone trying to save money right now, the Fed's interest rate cuts are bad news. Banks have been lowering the interest rates they pay on savings accounts, and the relatively safe money market funds that many savers rely on have also seen rates ...
2008-05-07 08:57:00 -
Weak European data lifts dollar against pound, euro - FXStreet.com
NEW YORK (AP) - The dollar strengthened Wednesday amid strong worker productivity data out of the U.S. and a string of uncertain news out of Britain and Europe. The 15-nation euro fell to $1.5401 from $1.5533 in New York late Tuesday. The British ...
2008-05-07 01:00:00 -
China Yuan Official Central Parity Rates For Thursday - FXStreet.com
The China Foreign Exchange Trade System published the following official central parity rates for major currencies against the yuan Thursday: Thursday Wednesday USD/CNY 7.0010 6.9848 HKD/CNY 0.89826 0.89624 JPY/CNY (per 100 yen) 6.6788 6.6614 EUR/CNY ...
2008-05-07 06:08:00 -
Keeping Families Above Water - Wall Street Journal
The latest flash point in the debate over the nation's bursting housing bubble is this: Since so many American houses are worth less than their mortgages, should the government do more to get lenders to settle for less than the full debt, even if it ...
2008-05-07 07:55:00 -
Median closing prices up on LI homes - Newsday
Median closing prices on homes on Long Island and in Queens have gone up for the first time in months, just as the house-buying season goes into full swing. According to the Multiple Listing Service of Long Island, which also covers Queens, it went ...
2008-05-07 05:18:00 -
Australia's central bank holds interest rates steady - MSN MoneyCentral
SYDNEY, Australia (AP) - Australia's Reserve Bank held its key interest rate at 7.25 percent Tuesday, a widely expected decision that reflects signs of a slowdown in the local economy despite rising inflation. RBA governor Glenn Stevens said the ...
2008-05-05 10:14:00 -
Report: Home values drop 30 percent - Sacramento Business Journal
Report: Many South Florida homeowners have negative equity [South Florida] Zillow signs deal with AT&T [Seattle] Realtor credits out-of-box thinking for longevity [Phoenix] Greater Sacramento's home values have declined 30 percent since the peak of ...
2008-05-07 12:53:00 -
Stocks Rise Despite Bad News - BusinessWeek
Stocks rose Tuesday despite plenty of bad news, including record oil prices and more pain from the financial crisis at mortgage giant Fannie Mae ( FNM ) and Swiss mega-bank UBS ( UBS ). Investors is looking forward to "better times ahead" and ...
2008-05-06 01:58:00 -
ANALYSIS-Main Street may rain on Wall Street recovery parade - Forbes
WASHINGTON (Reuters) - Wall Street seems to have concluded that the worst of the credit crisis is over and investors are looking to better economic times ahead, but Main Street is sending the opposite signal. While banks have raised cash by the ...
2008-05-07 11:27:00 -
Charcol asks founders for fresh funds as credit squeeze hits brokers - The Independent
The turmoil in the housing market continued to bite yesterday as the mortgage broker John Charcol admitted it would have to call on its founders for cash while its trade body complained to the City watchdog that banks were unfairly excluding brokers ...
2008-05-07 04:56:00