Mortgage and Financial News From 2007-10-29 Page 3

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  • U.K. Mortgage Approvals Decline to 26-Month Low (Update1) (Bloomberg.com)

    Oct. 29 (Bloomberg) -- U.K. banks approved the fewest mortgages in 26 months in September as borrowing costs increased, adding to evidence the property market is cooling.
    2007-10-29 03:16:50
  • Auckland Housing Market Bucks The Trend (Scoop.co.nz)

    House sales fell sharply during the September quarter but prices continued to hold up according to the latest Mike Pero Mortgages-Infometrics Property Cycle Indicator (PCI).
    2007-10-29 05:48:35
  • Next Merrill boss will face difficult job (The Post and Courier)

    NEW YORK — No matter who is running Merrill Lynch & Co., it's going to need a regimen of restraint and recuperation after getting badly bruised by the global credit market shakeout. The world's largest brokerage took a $7.9 billion writedown for subprime mortgages and asset-backe...
    2007-10-29 09:51:08
  • Merrill's hot seat won't be vacant long (Minneapolis-St. Paul Star Tribune)

    NEW YORK - No matter who is running Merrill Lynch & Co., it's going to need a regimen of restraint and recuperation after getting badly bruised by the global credit market shakeout. The world's largest brokerage took a $7.9 billion write-down for subprime mortgages and asset-backed bonds whose values went sour. Many on Wall Street believe there's more where that came from -- maybe another $4 ...
    2007-10-29 07:07:45
  • U.S. Stocks Gain, Led by Commodity Shares; Exxon, Freeport Rise (Bloomberg.com)

    Oct. 29 (Bloomberg) -- U.S. stocks rose for a second day after higher prices for oil and metals boosted producers of energy and raw materials, the leaders of this year's advance.
    2007-10-29 03:12:41
  • NEWSMAKER-Merrill CEO's rise buckled by risky mortgages (Reuters via Yahoo! Singapore News)

    NEW YORK, Oct 29 - The anticipated departure of Merrill Lynch & Co Inc Chief Executive Stan O'Neal would mark a surprising flameout in a career that had been impressive in its ascent.
    2007-10-29 07:43:35
  • Subprime mortgages: Danger ahead (Corvallis Gazette-Times)

    Lori DeBord knows how to keep a lot of plates spinning. A 40-year-old mother with three boys, she kept the bills paid by running her own small business, the Albany Dance Academy.
    2007-10-29 09:07:26
  • UK Sept mortgage lending growth jumps to 9.8 bln stg, but approvals ...

    Forbes - LONDON (Thomson Financial) - Net mortgage lending the UK soared to its highest level ... This may well dampen the prospect of an early interest rate cut from the Bank. ... News and its third party content providers for your personal information only ...
    2007-10-29 02:42:00
  • Row as McCanns use £1million Madeleine fund to pay their mortgage

    This is London - ... and Gerry McCann have used the £1million Find Madeleine fund to pay their mortgage ... If he is going to be doing procedures where you have to totally focus, the only ... It is better than sitting in a bank earning interest. - Michael Charles Witts, UK Add ...
    2007-10-29 03:49:00
  • Wobbly houses rest on confidence

    Financial Times - New mortgage approvals are down 20 per cent on a year earlier and an industry body expects house ... So far, so much like 2005, when house price growth slowed only to accelerate again. This time, however, with interest rates substantially higher, a ...
    2007-10-29 07:10:00
  • Petrol prices tipped to exceed $1.40 per litre soon

    News.com.au - As for mortgages, the latest Census data indicated only 8% of households have a mortgage above $200,000. Some of these people have enough income to pay more interest. Tax cuts will offset it anyway. Australians are going overseas for holidays in ...
    2007-10-29 07:00:00
  • Quotes from Fed officials on economy

    Seattle Post Intelligencer - Addressing the meltdown in the mortgage and credit markets, Bernanke said: "These ... The Fed's Sept. 18 cut to its key interest rate "will not be able to avert all of ... lag, and the effects of our easing action will have their maximum effect only ...
    2007-10-29 01:33:00
  • Five Deep-Value Stocks for a Rocky Market

    Street.Com - ... economy continues to decelerate; corporate profit growth is slowing; the housing/mortgage ... One only needs to look at structured debt pricing to see that. It's not interest rates. While Treasury bond prices have firmed, yield spreads have widened on ...
    2007-10-29 02:23:00
  • More Australians defaulting on mortgages: report

    Big Pond News - With the next critical meeting of the Reserve Bank only a week away, there is fresh evidence of growing mortgage stress across Australia. While an almost-certain interest rates hike will add to the woes of families in mortgage belt suburbs, a new ...
    2007-10-29 02:38:00
  • The price of money

    Financial Times - T he Federal Reserve’s dramatic 0.5 per cent interest rate cut on Sep­tember 18 ... In May 1997, just weeks before the currencies collapsed, inflation was only 4.5 ... to crunch as the market struggled to out the owners of dud mortgages and ­mortgage ...
    2007-10-29 02:59:00