Mortgage and Financial News From 2007-10-2 Page 26
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Euro Falls as European Officials Step Up Complaints Over Gains
Bloomberg - The Japanese yen yesterday fell to 165.07 per euro, the lowest since BNP Paribas SA's suspension of three funds due to U.S. subprime mortgage losses on Aug. 9 ... The key benchmark in Australia is 6.50 percent, while rates in New Zealand and the ...
2007-10-02 12:44:00 -
Optimism in the face of bad news boosts the Dow index
San Francisco Gate - ... Management reported that its manufacturing index fell from 52.9 percent in August to 52 percent in September, the lowest ... Mortgage rates are essentially unchanged since the federal funds rate cut on Sept. 18. Investors - mostly from overseas - who got ...
2007-10-02 04:11:00 -
U.K. Pound Falls as Report Shows Growth in Construction Slowed
Bloomberg - ... trading suggests there's an increasing chance the Bank of England will cut rates ... The pound has fallen for the past two weeks against the dollar after mortgage lender ... of 4.5 percent securities due 2042 was 1.32 times the offered amount, the lowest in ...
2007-10-02 02:17:00 -
U.S. Treasuries Decline as Stock Gains Erode Demand for Debt
Bloomberg - ... almost a week on speculation credit-market losses tied to defaulted subprime mortgage ... Ten-year Treasury rates rose 2 basis points to 4.57 percent. They were about 2.30 ... of Realtors' index of pending home sales dropped 2.1 percent to the lowest level ...
2007-10-02 12:22:00 -
Dow hits new high
Baltimore Sun - ... would fall 60 percent because of a $5.9 billion write-off related to soured mortgage ... It was the lowest reading since the gauge was at 50.9 last March. Analysts had ... Lower interest rates often are bullish for stocks, at least initially. The Fed's ...
2007-10-02 04:40:00 -
Australia's August Retail Sales Probably Slowed on Higher Rates
Bloomberg - Australia's August Retail Sales Probably Slowed on Higher Rates By Shamim Adam Oct ... Losses in the U.S. subprime mortgage industry roiled credit and stock markets around ... 000 jobs have been created this year, pushing the unemployment rate to the lowest ...
2007-10-01 05:20:00 -
Slump in mortgage approvals
Birmingham Post - Mortgage approvals fell in August to their lowest level for five months - adding to evidence that the housing market is cooling down after ... The marked retreat in housing equity withdrawal in the second quarter indicates that higher mortgage rates ...
2007-10-02 04:11:00 -
UK mortgage approvals fall to 4-month low in August
Economic Times - The value of net mortgage lending fell to the lowest in one-and-a-half years. Borrowing rates for home loans are rising after the central bank lifted its main interest rate to a six-year high in July and credit costs surged, forcing a bailout of ...
2007-10-02 02:38:00 -
Mortgage approvals slowest since April (The Scotsman: Business)
FURTHER evidence of a slowing housing market emerged yesterday with Bank of England figures showing that mortgage approvals for buyers fell last month to their lowest level since April.
2007-10-01 05:02:36 -
Soaring tuitions paving way for another loan crisis
Arizona Daily Star - One of the toughest things to believe about this year's meltdown in the mortgage industry is that the nation's central bank and other institutions didn't see it coming. Given what everybody knew about the kinds of high-risk mortgage loans that were ...
2007-10-02 12:22:00 -
Greenspan Sees `Rethinking' on CDOs After Losses (Update1)
Bloomberg - Citigroup Inc., the biggest U.S. bank, said yesterday that credit and trading losses on loans and mortgage-backed securities led to a 60 percent drop in its third-quarter profit. ``The Wall Street firms were under real pressure to supply ...
2007-10-02 04:18:00 -
U.S. Stock-Index Futures Advance; Countrywide Gains in Europe
Bloomberg - Citigroup said yesterday third-quarter profit fell 60 percent after credit and trading losses on loans and mortgage- backed securities. Chief Executive Officer Charles Prince said earnings will return to ``normal'' in the fourth quarter. ...
2007-10-02 04:40:00 -
Prudential Sues State Street Over Losses
Wall Street Journal - ... investment strategy over the summer without notification and devoted a large portion of the funds' investments into financial instruments that included "asset-based securities that overwhelmingly derived their value" from home-equity loans, mortgage ...
2007-10-02 03:35:00 -
VTB wants to buy into Russian Standard Bank: reports
Reuters - VTB-24 ranks second in the smaller market for mortgage loans. No comment was immediately available from either bank, but VTB Deputy Chairman Yulia Chupina did say last week that her bank hoped to close a deal soon to buy up the credit portfolio of a ...
2007-10-02 02:17:00 -
Big investors held course in September
Reuters UK - The problem of subprime mortgage loans or worries about a credit crunch will not disappear any time soon, and any news that financial institutions made losses could stir stock markets," said Yasuhiro Miyata, a senior portfolio manager at DLIBJ Asset ...
2007-10-02 12:36:00