Mortgage and Financial News From 2008-6-11 Page 4

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• Fed's Inflation Concerns Raise Speculation Of A Rate Hike In June (Daily FX)

  Speculation surrounding the Fed’s monetary policy stance has intensified over the past week.
  2008-06-11 01:24:12

• Russell swept under rising commodity tide (SmallCapInvestor.com via Yahoo! Finance)

  Small-cap stocks extended the recent slide Wednesday, as rising crude oil prices, ongoing credit crunch worries and a soft "Beige Book" report on economic activity took a toll.
  2008-06-11 01:34:02

• Consumer confidence at new low (Canberra Times)

  Consumer confidence has fallen to recession levels, with one expert predicting that only the coming tax cuts will prevent spending from stalling.
  2008-06-11 01:45:44

• Inflation fears and oil prices pinch markets (International Herald Tribune)

  Fears of inflation and trouble in the battered financial sector jolted U.S. and European, while oil prices jumped $5 a barrel.
  2008-06-11 01:48:22

• Yanked from Obscurity: Why U.K. Bankers Were Forced to Rethink LIBOR Calculations (Knowledge at Wharton)

  First, U.S. Bankers raised questions about how the daily London Interbank Offered Rate was calculated, and then The Wall Street Journal demonstrated that the rate was inexplicably diverging from what the data suggested it ought to be. Getting it right is important, because LIBOR is the basis for many kinds of loans. The British Bankers Association says it will make changes.
  2008-06-11 02:20:15

• CHRYSLER BUILDING ON THE BLOCK - New York Post

  You can thank the Democrats and Bill Clinton for not allowing drilling or refining to proceed in our own country thereby creating our current dependence on foreign oil. Way to go you people that voted for Democrats. You're basically selling our ...
  2008-06-11 10:24:00

• Barratt tries to calm fears about land writedowns - Financial Times

  Barratt Developments’ chief executive has attempted to calm investor fears about the future of the struggling housebuilder with an unexpected announcement to the Stock Exchange. Mark Clare, in what he admitted was an unusual step, said the company ...
  2008-06-11 12:04:00

• Clearwire to seek to amend $1.25B term loan - Boston Globe

  NEW YORK— Clearwire Corp. said Wednesday it will seek to amend its $1.25 billion senior secured term loan to facilitate a deal with Sprint Nextel Corp. and to permit additional debt and investments. According to a filing with the Securities and ...
  2008-06-11 09:48:00

• U.S. Mortgage Activity Edges Up - Forbes

  The U.S. housing market's future remains cloudy, but one thing that seems clear is that financing costs are as low as they will get. A growing number of consumers who need to buy homes are signing on the dotted line, data released on Wednesday ...
  2008-06-11 12:47:00

• RLPC-Rosneft in talks for $1 bln refinancing loan -source - Reuters

  LONDON, June 11 (Reuters) - Russia's largest oil company, state-controlled Rosneft (ROSN.MM: Quote , Profile , Research ) is in talks with banks to secure a $1 billion loan, which will help the company to refinance outstanding debt, a banking source ...
  2008-06-11 09:05:00

• The Energy Department's news sends the market downward (Schaeffers Research)

  Weak Energy Department inventory data sent the market into a steep downward spiral as renewed inflation fears gripped investors...( Read More )
  2008-06-11 10:41:54

• U.S. mortgage applications rise 10.9% (Providence Business News)

  WASHINGTON – More mortgage applications were filed last week than the week before nationwide, as falling house prices offset the continuing rise in interest rates, the Mortgage Bankers Association said its weekly report.
  2008-06-11 10:53:03

• Fitch Rates $20,290MM Southeastern California Conference of Seventh-Day Adventist Revs 2008 'AA/F1+' (Business Wire via Yahoo! Finance)

  NEW YORK----Fitch Ratings assigns a rating of 'AA/F1+' to the $20,290,000 Southeastern California Conference of Seventh-Day Adventist adjustable rate demand taxable revenue bonds, series 2008.
  2008-06-11 10:54:00

• Where the Pain Is (San Diego Reader)

  What’s the difference between National City and Rancho Santa Fe? Well — er, uh — money comes to mind. Last year, median household income in National City was $44,130, according to figures provided by the San Diego Association of Governments.
  2008-06-11 12:02:53

• Stocks Tumble on Oil Spike, Economic Fears (BusinessWeek)

  Signs of more weakening in the Fed's latest Beige Book report added to gloom caused by soaring crude prices
  2008-06-11 12:33:41

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