Mortgage and Financial News From 2007-10-16 Page 24
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Bernanke: Recovery will take time (AP via Yahoo! News)
A deepening housing slump probably will be a "significant drag" on economic growth into next year and it will take time for Wall Street to fully recover from a painful credit crisis, Federal Reserve Chairman Ben Bernanke warned Monday.
2007-10-15 05:46:21 -
U.S. Fed chief warns Wall Street (CNN.com)
The weakness in the U.S. housing market "is likely to be a significant drag on growth in the current quarter and through early next year," U.S. Federal Reserve Chairman Ben Bernanke warned.
2007-10-15 09:43:28 -
Tata Consultancy Says Subprime May Curb U.S. Orders (Update1)
Bloomberg - ... note to clients after Tata reported second-quarter results yesterday. They rate the stock a ``buy.'' Citigroup, the biggest U.S. bank, yesterday reported profit fell 57 percent after it was forced to write down the value of mortgages and ...
2007-10-16 03:40:00 -
KeyCorp Reports Third Quarter 2007 Earnings
Forbes - ... of $305 million, or $0.74 per share, for the third quarter of 2006, and $337 million, or $0.85 per share, for the second ... with branch-based deposit and investment products, personal finance services and loans, including residential mortgages, home ...
2007-10-16 03:33:00 -
Japanese Stocks Decline on Renewed U.S. Subprime Loss Concern
Bloomberg - ... stocks dropped, led by banks such as Mitsubishi UFJ Financial Group Inc., after Citigroup Inc. warned that subprime mortgages ... Mizuho Financial Group Inc., the second biggest, fell 34,000 yen, or 5.1 percent, to 631,000. Orix Corp., the nation's ...
2007-10-15 11:44:00 -
Affordable Interest Mortgage to Educate Homeowners on Reducing ...
Forbes - Both workshops will be held in the conference room on the second floor at 8400 E. Prentice Ave. in Greenwood Village. The workshops are free and open to the public. The first workshop will focus on Reverse Mortgages, one of the fastest-growing tools ...
2007-10-16 04:02:00 -
Trial of property tax levy expanded
Xinhua News Agency - ... branches of China Merchants Bank and Industrial and Commercial Bank of China have also implemented similar policies as Pudong bank. The Shenzhen branches of Everbright Bank and China Merchants Bank have even canceled fixed-rate mortgages for second ...
2007-10-15 11:01:00 -
Major Italian banks preformed strongly in H1, well placed for tough H2 ...
Forbes - ... five major Italian banks performed strongly in the first half of 2007, making them well placed for a more turbulent second ... Italian mortgages continue to perform well, partly because lending conditions applied by Italian banks remain stricter than ...
2007-10-16 03:04:00 -
China's Loan-Rate Decisions Will Reflect Inflation (Update1)
Bloomberg - China has also raised lending rates on some mortgages and increased the minimum deposit on second homes to curb speculation and makes homes affordable to more first-time buyers. The key one-year lending rate is at a nine-year high of 7.29 percent ...
2007-10-15 10:32:00 -
Stocks trim losses but end session lower
MSNBC - During August and into September, investors were concerned that mortgages made to borrowers with poor credit that had been bundled together and sold off as investments would resurface and cause widespread losses. Indeed, some hedge funds and other ...
2007-10-15 03:30:00 -
D.R. Horton Orders Fall 39 Percent as Housing Slump Deepens
Bloomberg - Horton Inc., the second largest U.S. homebuilder, said orders fell 39 percent in the fiscal fourth quarter as stricter ... Horton's buyers used fixed rate mortgages for their purchase and 14 percent had Alt-A financing, the report said. Less than 1 ...
2007-10-16 04:23:00 -
East Bluff neighborhood selected for 100 Homes project
Quad-Cities Times - In the program, the city and lending institutions create a pool of money used to provide forgivable second mortgages that must be used primarily for rehabilitation. The City Council has budgeted $300,000 for year one, with the modest goal of granting ...
2007-10-16 02:00:00 -
U.S. Bancorp Reports Net Income for the Third Quarter of 2007
Forbes - ... Residential mortgages .30 .28 .23 .22 .21 Credit card 3.09 3.56 3.48 3.27 2.85 Retail leasing .19 .24 .18 .23 .22 Home equity and second mortgages ...
2007-10-16 04:30:00 -
Timeline of Gov't Credit Crunch Response (AP via Yahoo! Finance)
Wall Street and Main Street alike have been caught up in this year's credit market turmoil, which began with rising defaults on mortgages made to financially shaky borrowers and spread to corporate bonds and other kinds of debt.
2007-10-15 05:03:57 -
Asian Stocks May Decline on Renewed U.S. Subprime Loss Concerns (Bloomberg.com)
Oct. 16 (Bloomberg) -- Asian stocks may fall, led by financial companies, after Citigroup Inc. warned that subprime mortgages in the U.S. will continue to plague financial markets.
2007-10-15 05:21:12