Mortgage and Financial News From 2008-5-7 Page 4
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Regulator: Fannie, Freddie face more risks (CNN Money)
Mortgage financing giants Fannie Mae and Freddie Mac could face further problems if home prices continue to plummet more than many current forecasts, according to the chief federal regulatory agency charged with overseeing the two firms.
2008-05-07 12:46:37 -
U.S. pending home sales drop to new low in March (Charlotte Sun)
NEW YORK (AP) -- Pending home sales dropped to a new low in March, an industry group said Wednesday, signaling the housing slump has yet to bottom out even as the spring sell season gets under way.
2008-05-07 12:55:19 -
Most peak real estate buyers 'underwater' - Herald Tribune
Roughly 80 percent of home buyers who bought in Sarasota-Bradenton at the market peak in late 2006 are "underwater" on their mortgage, meaning the price they paid is above the current market value for their house, an analysis released Tuesday by ...
2008-05-07 07:24:00 -
Service sector at a halt as Bovis Homes issues profit warning - Times Online
Growth in Britain’s service sector virtually ground to a halt last month, fuelling fears that a widespread slowdown is taking hold in the economy. The closely watched CIPS survey of business activity in the service sector fell from 52.1 in March to ...
2008-05-07 03:56:00 -
Home prices surge 13.6% - Baltimore Sun
WASHINGTON - U.S. home prices surged 13.6 percent in the second quarter, the fastest pace in more than a quarter of a century, as a decline in interest rates fueled record sales. The median price of an existing single-family home rose to $208,500 ...
2008-05-07 12:00:00 -
Cash injection has not cut cost of borrowing - Times Online
The Bank of England's £50 billion cash injection into the mortgage market has so far not made any difference to the cost of borrowing, the head of the UK's biggest building society said yesterday. Graham Beale, chief executive of Nationwide, told ...
2008-05-07 09:25:00 -
Manufacturing drop adds to U.K. economy worries (The Globe and Mail)
Surprise decline suggests Britain's economy may be set for a broad-based slowdown
2008-05-07 04:55:02 -
What to ask your next mortgage broker (CNN Money)
Dave Pruka, 41, a Minneapolis publishing executive, went hunting for a mortgage earlier this year but didn't bother with a broker.
2008-05-07 05:47:07 -
U.S. MBA's Mortgage Applications Index Rose 15.6% Last Week (Bloomberg.com)
May 7 (Bloomberg) -- The number of mortgage applications filed in the U.S. rebounded last week as a drop in mortgage rates boosted buying and refinancing.
2008-05-07 05:48:22 -
Welch bank hit hard by souring housing market (Charleston Daily Mail)
A Welch-based bank that looked for growth by opening an office in Florida five years ago now finds itself working out of a mortgage mess. Ameribank Inc., after grappling for decades with a shrinking coalfield economy, opened a branch in wealthy, growing Palm Beach County, Fla., in 2003.
2008-05-07 06:48:07 -
Bank of England seen refraining from back-to-back cuts (Market Watch)
LONDON (MarketWatch) -- However tempting it may be for the Bank of England to make back-to-back interest-rate cuts, odds are they won't when they announce their decision at 7 a.m. Eastern on Thursday.
2008-05-07 08:32:43 -
Banking and Financial (Mondaq)
The current crisis in mortgage backed securities affects everyone, including the financial and real estate markets of the Cayman Islands.
2008-05-07 09:22:12 -
Austin recession-proof? (Austin Business Journal)
Austin was named third on the Forbes.com list of the top 10 "Recession-Proof Cities" in the United States.
2008-05-07 09:25:44 -
Fitch Discusses Performance Drivers of 2006/2007 U.S. Alt-A RMBS (Centre Daily Times)
High risk attributes coupled with continued home price declines and the sharp contraction in available capital from the non-agency mortgage markets are the primary factors for the performance deterioration in U.S. Alt-A RMBS originated in 2006 and 2007, according to Fitch Ratings in a new report.
2008-05-07 09:55:57 -
Life Insurance - How Much Do I Need? - Best Syndication
Insurance is the means that an individual or a family can use in order to help them prepare against the emergencies of life. Life insurance is the form of this preparation that helps in the worst emergency – the death of a loved one. This could be ...
2008-05-05 01:31:00