Mortgage and Financial News From 2007-11-16 Page 12

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  • Fannie Mae shares hit decade low on loss concerns

    MSN MoneyCentral - Queries over the future "cure rate" on the loans resulted in frustration to ... the government-sponsored enterprise known for financing mostly "prime" loans is ... to sell Fannie shares at $40 each on a volume twice the existing open interest. It ...
    2007-11-16 10:32:00

  • Barclays calculates £1.3bn sub-prime loss

    Guardian Unlimited - Barclays bank has taken a £1.3bn hit on the sub-prime mortgage crisis in the US. Britain's third biggest bank said it ... parts of the BarCap business had been making profits - with "strong growth" across commodity, equity, currency and interest rate ...
    2007-11-15 11:47:00

  • U.K. Should Buy Northern Rock, Not Extend Loans, Robinson Says

    Bloomberg - Nov. 16 (Bloomberg) -- Prime Minister Gordon Brown's government should take control of Northern Rock Plc rather than ... Currently, the Bank of England is charging a penalty rate of interest above its benchmark lending rate for the loans to Northern ...
    2007-11-16 05:45:00

  • Howard's standing grows in WA

    Age - The people who have shifted back into the coalition camp are less concerned about the prime minister breaking his interest rate promise and more concerned about the prospect of interest rates being higher under Labor," Mr Patterson said. © 2007 AAP ...
    2007-11-16 11:00:00

  • Goldman warns of a substantial US recession

    Daily Telegraph - Goldman Sachs has sent a shudder through the debt markets, warning that sub-prime mortgage losses could force banks to ... Wall Street shrugged off the data, betting instead that easing inflation pressures would clear the way for further interest rate ...
    2007-11-16 11:07:00

  • House OKs legislation on subprime mortgages

    Billings Gazette - ... with low interest rates only to see the rates rise and bring monthly mortgages up to prices they cannot afford. The bill passed 291-127. It now goes to the Senate, where a similar bill has been stalled for weeks. More than 2 million adjustable-rate ...
    2007-11-16 08:30:00

  • Paying the price for loans

    Queen's Journal - The federal loan can have a fixed interest rate of the prime rate of interest plus five per cent or a floating rate of prime plus 2.5 per cent. For the Ontario portion of the loan, the interest rate is prime plus one per cent. Right now, prime is 6 ...
    2007-11-16 10:17:00

  • Fresh credit woes hit bank shares

    BBC Business - Sub-prime mortgages are typically sold to people on low incomes or with a history of credit problems. As a succession of interest rate rises boosted their mortgage repayments, many have not been able to meet their home loan obligations. This has ...
    2007-11-16 11:43:00

  • Howard's standing increases in WA - poll

    News.com.au - The people who have shifted back into the Coalition camp are less concerned about the Prime Minister breaking his interest rate promise and more concerned about the prospect of interest rates being higher under Labor,'' Mr Patterson said. Share this ...
    2007-11-16 11:22:00

  • Schumer bill targets mortgages' fine print (Rochester Democrat and Chronicle)

    Sen. Charles Schumer is pushing a bill to make mortgage lenders provide a one-page document showing the interest rate, monthly payment and other important details — and not in fine print.
    2007-11-16 02:48:00

  • Interest rates now a hot topic (Independent Online)

    Interest rates have become a hot topic, as borrowers battle to make both ends meet.
    2007-11-15 10:46:07

  • Credit squeeze forces rate rise (BBC News)

    Borrowers are warned they may face higher mortgage costs after Standard Life lifts its standard variable rate.
    2007-11-16 04:37:03

  • Timeline: Sub-prime losses (BBC News)

    BBC News looks at how the sub-prime crisis unfolded?
    2007-11-16 08:52:25

  • More Money-Market Funds Hit Trouble

    Wall Street Journal - For instance, the fund held a short-term security called Ottimo Funding Trust, which was unable to refinance its short-term debt. In a recent filing by the Prime Obligations fund, the firm said that on Oct. 26, "an affiliate of the funds' adviser ...
    2007-11-16 03:29:00

  • Say A Prayer For Ben Bernanke

    Post Chronicle - Exposure of all that subprime debt going rotten on the books of our biggest banks, the staggering losses being reported, the inability of homeowners to refinance or borrow any further against their equity, the credit crunch -- all argue for an easy ...
    2007-11-16 08:01:00

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