Mortgage and Financial News From 2008-6-11 Page 3
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Banks giving short-term help to mortgagors (EARTHtimes.org)
WASHINGTON (Reuters) - The biggest U.S. banks that service more than 23 million mortgages totaling $3.8 trillion have focused on short term relief for troubled borrowers rather than permanent changes to mortgage conditions to prevent foreclosures, a top U.S. banking regulator said on Wednesday.
2008-06-11 02:03:47 -
Repo raised, SBI mulls rate hike (The Telegraph)
Mumbai, June 11 : Interest rates on both loans and deposits are set to rise.
2008-06-11 02:14:18 -
Soaring prices pose challenge to G8 finance chiefs (The Japan Times)
Finance chiefs from the Group of Eight countries are expected to discuss Friday in Osaka how their economies can tame the soaring oil and food prices battering businesses and consumers around the world. But analysts and government officials say there are no effective measures in sight, at least in the short term. Read the full story
2008-06-11 02:21:14 -
Scots jobs in good health despite dip insist politicians (The Herald)
The number of people out of work and claiming Jobseeker's Allowance in Scotland during the month of May increased by 500 to 70,700. However, this is down by 7100 over the year and remains close to a historically low level.
2008-06-11 02:57:31 -
Home price drop means $4 trillion in lost capital (The Economic Times)
No one knows when the credit crisis will end.
2008-06-11 03:09:52 -
Congressman Ryan’s Road Map for America Is a Dead End (Shepherd Express)
His extreme right-wing proposals will create more problems HE DOES NOT DISCUSS THE FACT THAT HE WAS IN LOCK STEP WITH GEORGE BUSH ON THE WAR IN IRAQ, A WAR THAT WAS PAID FOR ENTIRELY WITH BORROWED MONEY AND ONE THAT WILL EVENTUALLY COST OUR NATION MORE THAN A TRILLION DOLLARS.
2008-06-11 03:44:17 -
Oil is too important to leave to market forces (Times Online)
Towards the end of last year, as financial panic about the global credit crunch reached its climax, I wrote that a taxpayer-backed “plan B” would soon be needed to the save the world banking system.
2008-06-11 03:57:28 -
Home price drop means US$4 trillion in lost capital (Stuff)
No one knows when the credit crisis will end - but when it does, US home prices may have lost a third of their value.
2008-06-11 04:08:44 -
Obama has round-table talk on South Side (Chicago Sun-Times)
Democratic White House hopeful Barack Obama held a round-table talk today on the South Side with three consumers gouged by credit card companies.
2008-06-11 04:29:26 -
Gamblers betting on good deals to Sin City this summer - Atlanta Journal Constitution
That's because, reversing the trend over the last several years, Sin City's tourist business is slipping. Through March 2008, gaming revenue and hotel rates dipped about 3 percent from the same period last year. Conventional wisdom blames high oil ...
2008-06-11 11:57:00 -
U.S. MBA's Mortgage Applications Index Rose 10.9% Last Week - Bloomberg
June 11 (Bloomberg) -- Mortgage applications in the U.S. last week rose from their lowest level in six years, led by a gain in purchase applications that may indicate the drop in property values is starting to draw buyers. The Mortgage Bankers ...
2008-06-11 05:09:00 -
European stocks sink to lowest close since March 20 - Forbes
FRANKFURT, June 11 (Reuters) - European shares fell on Wednesday as bank stocks sank on both sides of the Atlantic -- notably Royal Bank of Scotland (nyse: RBS - news - people ) in Europe -- and as high oil prices stoked fears of rising inflation and ...
2008-06-11 10:02:00 -
Mortgage-backed securities are shaken to the foundations - Financial Times
When grandees from the world of commercial mortgage-backed securities gathered for their annual conference in June 2007, the mood of optimism was almost tangible. In the first five months of the year, a record $100bn of mortgages were repackaged and ...
2008-06-11 12:47:00 -
The Crack Up Boom, Part II (GoldSeek.com)
The Crack up Boom series has returned due to the enormous amounts of money and credit creation required to save the G7 financial and banking systems. As I have outlined in recent letters, we are only in the second inning of a nine-inning ball game.
2008-06-11 12:26:26 -
Confidence crashes as rates, petrol cast pall on economy (Queensland Country Life)
CONSUMER confidence has crashed to its lowest level in more than 15 years, as record fuel prices and high interest rates cast a growing pall over the Australian economy.
2008-06-11 01:16:03