Mortgage and Financial News From 2008-3-1 Page 6

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  • Rivals fume as savers flock back to Rock (Money Observer)

    Savings Institutions are losing the battle for deposits to an unlikely foe - Northern Rock. And analysts at New Star are predicting that mortgage redemptions will allow the troubled Rock to repay its Bank of England loan by early next year.
    2008-03-01 05:32:30

  • A look at the week ahead (Long Beach Press-Telegram)

    MONDAY: U.S. auto sales; construction spending for January; Virgin Atlantic Airways and General Motors announce environmental initiative.
    2008-03-01 06:06:19

  • Home sales booming in Houma-Thibodaux (The Houma Courier)

    THIBODAUX -- Newly released data showing skyrocketing local home values confirms what some real-estate experts had already speculated: the Houma-Thibodaux economy is healthy enough to sustain a housing boom while home values in other parts of the nation are plummeting.
    2008-03-01 06:09:42

  • More rate-hike pain (Sydney Morning Herald)

    Interest rates are set to rise within weeks of the Reserve Bank board meeting on Tuesday.
    2008-03-01 06:20:39

  • Seven steps to buying a used car (Los Angeles Times)

    Is your car a rolling embarrassment? Or maybe it won't even roll anymore. If a fresh set of wheels is on your shopping list but your wallet's feeling wafer-thin, take heart. There may be no better time to buy a used vehicle.
    2008-03-01 06:32:00

  • The Buck Has Stopped (NYTimes.com via Yahoo! Finance)

    In spite of the Federal Reserve’s efforts to fight off a recession, a consumer-led recession has already begun.
    2008-03-01 06:39:46

  • Economy puts people on path to unmanageable debt (East Valley Tribune)

    Six years ago, Mesa resident Julie Ensminger wanted to buy a house high in value and low in cost. Instead, she ended up with an unaffordable mortgage payment and she's been struggling financially ever since.
    2008-03-01 07:15:55

  • Subprimes get blame, but were the finger in the dike

    Daytona Beach News-Journal - In the major markets, there is tremendous dependency on alternatives to the standard 30-year fixed-rate mortgage, which in turn has created a dependency on the least scrupulous mortgage companies and lenders.
    2008-02-28 11:16:00

  • Freddie Mac CFO confident despite widening losses

    Houston Chronicle - ... sponsored sibling, Fannie Mae, will be allowed to expand their roles in the turbulent mortgage market, through the removal on March 1 of an investment-portfolio cap placed in the aftermath of multilbillion-dollar accounting scandals at the companies.
    2008-02-28 03:52:00

  • Times Get Tougher, Car Bargains Get Better

    Wall Street Journal - While the most generous offers are coming from the Big Three U.S. auto companies, popular foreign makers like Honda Motor ... The buyers' market for cars mirrors the housing market, where low mortgage rates are making it easier for buyers with good ...
    2008-03-01 03:28:00

  • State, preparing to borrow, faces cold market for munis

    Los Angeles Times - With those companies reeling from losses on mortgage-backed bonds they insured, some investors have questioned whether the insurance the firms provide on muni bonds could become worthless.
    2008-02-28 04:57:00

  • Paulson Rejects Government Bailouts

    Newsday - He noted that the Securities and Exchange Commission in January had approved a new protocol to allow mortgage service companies to expedite the process for subprime borrowers who qualify.
    2008-02-28 11:37:00

  • Europe shares pare losses on Fannie, Freddie cap

    Reuters - ... late on Wednesday after the federal regulator for Fannie Mae (FNM.N: Quote , Profile , Research ) and Freddie Mac (FMC.N: Quote , Profile , Research ) said it would lift an invesmtent cap, freeing up billions of dollars for the mortgage finance companies ...
    2008-02-26 03:55:00

  • Starbuck's Coffee Break an Idea Worth Emulating: David Pauly

    Bloomberg - The companies, formed by Congress to keep the mortgage market liquid, manipulated their earnings to make their shares look attractive. Their government regulator then curbed the companies' ability to buy more mortgages, depriving the market of its ...
    2008-02-28 11:02:00

  • AIG loses $5.3B on hefty investment losses

    USA Today - AIG also lost more than $3 billion in its investment portfolio because of "significant, rapid declines" in the value of mortgage debt. AIG lost $5.29 billion, or $2.08 a share, in the fourth quarter, compared with profit of $3.44 billion, or $1.31 a ...
    2008-02-27 03:53:00

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