Mortgage and Financial News From 2007-8-18 Page 8
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European markets rebound as Fed cuts discount rate
International Herald Tribune - Earlier Friday, Japan's central bank injected 1.2 trillion yen (US$10.5 billion) into money markets — the third injection this week and triple the amount it had supplied the day before — in a bid to curb rises in key interest rates. Hong Kong's ...
2007-08-17 11:33:00 -
Fed cuts rate to stabilise market
BBC News - It is a different rate to the federal funds rate, which remains at 5.25%. The Federal Funds rate determines the level of interest rates for consumers. The move is intended to boost the amount of money available in the financial system and make it ...
2007-08-17 04:02:00 -
Fed moves to stabilize market
Sioux City Journal - The move to cut the discount rate will not have a major impact on consumer interest rates in the way that cutting the federal funds rate triggers an immediate drop in banks' prime lending rate, the benchmark for millions of consumer and business loans
2007-08-18 06:14:00 -
Indonesia Stocks Plunge Across the Board
Houston Chronicle - Besides the concerns over a global credit crunch, investors are worried the Indonesian Central Bank will hike interest rates next week to strengthen the rupiah, which has been slipping against the dollar. "There is a lot of selling pressure," said ...
2007-08-16 04:03:00 -
Faster banking transfers delayed
BBC News - The OFT believes that faster funds transfers will help consumers manage their finances better, including making it easier to avoid unauthorised overdrafts and getting a better deal on interest rates," the consumer watchdog added. Cheque clearing The ...
2007-08-15 12:55:00 -
Mortgage lender's woes affect local offices
Lansing State Journal - First Magnus' shutdown is the latest in a string of lender collapses. American Home Mortgage quit writing home loans Aug. 3 and filed for bankruptcy protection three days later. Last week, regional mortgage lender HomeBanc Corp. filed for bankruptcy. ...
2007-08-18 03:58:00 -
Top lender needs a loan of 11.5B
New York Daily News - The credit mess forced Countrywide Financial, the nation's largest mortgage lender, to borrow $11.5 billion yesterday, shocking financial markets already reeling from the growing credit crunch and threatening to make home loans much tougher to get ...
2007-08-17 05:53:00 -
Dissing in the wind
The Australian - He rates the film as the single most important influence on changing people's minds: polls showed that support for the ... Many community and business figures have told him that it sparked their interest in the issue. Helped by the ACF initiative ...
2007-08-18 06:31:00 -
Nowhere to hide in global markets
The Australian - A REMARKABLY effective way to bring home the reach of modern global financial markets to ordinary Australians is to tell them their mortgage interest rates are going up because of a credit crisis in US mortgage markets. That's what happened on Monday ...
2007-08-15 12:55:00 -
Few changes for homeowners if lender goes under
Worldnews.com - NEW YORK - Another well-known mortgage lender is in serious trouble. This time American Home Mortgage Investment Corp. may be forced into insolvency after creditors pulled the plug amid a worsening housing ... Q&A: Lenders in Distress The Boston ...
2007-08-16 09:25:00 -
Chinese inflation at 10-year high of 5.6%
The Independent - China's national income grew by an annualised 11.9 per cent in the first quarter of 2007, and three increases in interest rates in the past six months have failed appreciably to cool output or China's rampant (until very recently) stock markets ...
2007-08-14 12:56:00 -
Aegis Mortgage files for Chapter 11
Boston Globe - Aegis' bankruptcy filing follows by a week a filing by American Home Mortgage Investment Corp., the nation's 10th largest mortgage lender. Falling home prices and a spike in payment defaults have created turmoil in the mortgage industry. Across the ...
2007-08-14 12:56:00 -
Asian markets continue slide; Tokyo down sharply
International Herald Tribune - Earlier Friday, Japan's central bank injected 1.2 trillion yen (US$10.5 billion; €7.8 billion) into money markets — the third injection this week and triple the amount it injected the day before — in a bid to curb rises in key interest rates. ...
2007-08-17 10:00:00 -
Fed lends hand in credit crunch
Herald Tribune - Instead of its normal home page, the Web site of mortgage lender First Magnus Financial now reads, "In light of the collapse of the secondary mortgage market, First Magnus will not fund any future mortgage loans." Think the global credit crunch is ...
2007-08-18 04:58:00 -
UK money market rates
FXStreet.com - UK money market rates Fri, Aug 17 2007, 15:51 GMT http://www.afxnews.com LONDON (Thomson Financial) - INTERBANK OFFERED ... Fundamental Reports Fundamental Market View World Interest Rates Economic Indicator Reports Interest Rate Reports Technical Analysis ...
2007-08-17 03:48:00