Mortgage and Financial News From 2007-10-16 Page 23
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Credit market woes, oil prices trip up Dow (The Columbus Dispatch)
NEW YORK (AP) -- Stocks pulled back sharply yesterday as news that major U.S. banks will set up a fund to help bail out the credit markets stirred concerns about bad debt and as oil prices surged past $86 a barrel for the first time. The Dow Jones industrial average lost more than 100 points.
2007-10-16 03:33:34 -
Stocks Retreat Amid Bad Debt Worries (AP via Yahoo! Finance)
Stocks pulled back sharply Monday as news that major U.S. banks will set up a fund to help bail out the credit markets stirred concerns about bad debt and as oil prices surged to $86 per barrel for the first time.
2007-10-15 04:46:49 -
US Bancorp 3rd-Quarter Earnings Drop 2 Percent on Higher Expenses, Credit Provisions (Canadian Business)
MINNEAPOLIS (AP) - U.S. Bancorp said Tuesday third-quarter earnings slipped 2 percent as operating expenses and credit provisions rose amid trouble on the mortgage and housing markets.
2007-10-16 05:27:17 -
Stocks retreat over bad debt worries (AP via Yahoo! News)
Stocks pulled back sharply Monday as news that major U.S. banks will set up a fund to help bail out the credit markets stirred concerns about bad debt. Bonds fell after an upbeat economic reading.
2007-10-15 10:50:04 -
Stocks fall amid unease over bad debt (USA Today)
Stocks pulled back sharply Monday as news that major U.S. banks will set up a fund to help bail out the credit markets stirred concerns about bad debt and as oil prices surged past $85 per barrel for the first time.
2007-10-15 03:27:43 -
'Cut out waste and get a 25 per cent pay rise'
Daily Telegraph - They include petrol, mortgages, phone and internet bills and council tax, which alone has increased by 92 per cent, or ... But savvy consumers can reverse the trend by ensuring that they are not paying over the odds on everyday bills – be it ...
2007-10-15 08:09:00 -
Virgin Re-Brands CircleLending, Launches Virgin Money
MediaPost - ... million in loan volume while maintaining a default rate of less than 5% on private loans and less than 1% on private mortgages ... is for house-rich, cash-poor homeowners to get money without losing the family home to the bank; similar to a reverse ...
2007-10-16 01:53:00 -
8:31 am
Guardian Unlimited - He said Fed policymakers were prepared to ``reverse'' the rate reduction if inflation turned out stronger than expected. The ... The worst carnage has affected investors in ``subprime'' mortgages - those made to people with spotty credit or low incomes ...
2007-10-15 11:51:00 -
U.S. Fed chief warns Wall Street
CNN - ... Fed may cut rates again on October 31 may be disappointed though. Bernanke indicated that the Fed "was prepared to reverse ... session after his speech, Bernanke said it will take a while for investors to appropriately value subprime and jumbo mortgages
2007-10-15 11:44:00 -
Housing board exchanges ideas with BIED
Block Island Times - She proposed offering reverse mortgages to homeowners experiencing financial difficulties in exchange for estate rights to their houses, instead of homeowners going to the bank. At banks, reverse mortgages for older people can cost at least $125,000 ...
2007-10-15 07:38:00 -
Treasuries Advance as Global Stocks Fall on Growth Concern
Bloomberg - Citigroup Inc. also warned U.S. subprime mortgages will continue to plague financial markets. The pace of ... The Fed ``was prepared to reverse the policy easing if inflation pressures proved stronger than expected.'' ...
2007-10-16 01:39:00 -
US lenders enter Virgin territory
Channel 4 News - The firm now has 200 million dollars (£100 million) in loans on its books - ranging from short-term loans for debt refinancing or other personal needs, to reverse home mortgages and small business expenses. Mr Advani said the Virgin rebranding gave ...
2007-10-16 03:40:00 -
Fed Chair: Housing Slump Will Drag On Economy (WCVB Boston)
A deepening housing slump probably will be a "significant drag" on economic growth into next year, Federal Reserve Chairman Ben Bernanke warned Monday.
2007-10-16 02:32:13 -
Bernanke Says Housing to Remain `Drag' on U.S. Growth (Update3) (Bloomberg.com)
Oct. 15 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said the housing slump will be a ``significant drag'' on U.S. growth into next year, though evidence of a broader impact on spending is limited.
2007-10-15 06:12:41 -
Bernanke has warning for Wall Street (CNNMoney.com via Yahoo! Finance)
In a speech to the New York Economic Club Monday night, Federal Reserve Chairman Ben Bernanke said the central bank's rate cut in September has shown signs of success, but cautioned that lenders and investors must bear responsibility for financial decisions that caused the subprime mortgage meltdown.
2007-10-15 07:24:00