Mortgage and Financial News From 2007-11-20 Page 3

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  • Dollar Slides to Record Low Against Euro Before Housing Data (Bloomberg.com)

    Nov. 20 (Bloomberg) -- The dollar fell to a record low against the euro and the Swiss franc on speculation a U.S. government report will show a deepening property slump, prompting the Federal Reserve to lower interest rates.
    2007-11-20 05:14:04

  • Fed: Slow growth, unemployment ahead (The Myrtle Beach Sun News)

    The housing collapse and credit crisis will slow economic growth and nudge up unemployment next year, the Federal Reserve said Tuesday in a first-of-its-kind forecast that some economists believe will lead to interest rate cuts early in 2008. Don't count on a cut in rates at the Fed's December meeting, however, analysts say. The Fed called its rate reduction in late October a "close call" and ...
    2007-11-20 09:32:50

  • Interest Rate Cut in December No Longer a Certainty (HispanicBusiness.com)

    NEW YORK (Thomson Financial) - Trading in fed funds futures Tuesday suggested that an interest rate cut in December was no longer a certainty, as a report that the Federal Reserve expects the U.S. economy to recover in 2008 offset mounting concerns over a liquidity crisis following Freddie Mac's announcement that it was considering ways to raise capital in the "very near term."
    2007-11-20 09:26:52

  • Board suggests taking immediate action on town's water rates citing DPW budget deficit (Sentinel & Enterprise)

    LANCASTER -- The Department of Public Works will be short $30,000 at the end of the current financial year, it was announced at Monday's Board of Selectmen meeting.
    2007-11-20 01:24:14

  • Fed minutes show October rate cut was "close call" (Reuters via Yahoo! News)

    The Federal Reserve was unsure last month whether lower borrowing costs were needed to cushion the U.S. economy from a housing slump and credit woes but decided to cut interest rates as a form of insurance.
    2007-11-20 04:20:45

  • IMF says Czech economy to slow; rates, inflation to rise further UPDATE (The Forex Market)

    PRAGUE (Thomson Financial) - The International Monetary Fund said it thinks the Czech central bank is likely to continue to raise interest rates next year as inflation climbs to 5 pct despite a dip in growth of its booming economy.
    2007-11-20 08:44:22

  • Less risk in hiking rates in Dec (IAfrica South African Business News)

    There is probably less risk in hiking interest rates in December than pausing because if inflation rises further than expected the central Bank may be forced to hike even more aggressively in 2008, Old Mutual Investment Group SA (OMIGSA) chief economist Rian le Roux said on Tuesday.
    2007-11-20 07:01:58

  • PBOC rules out imminent interest rate hike (People's Daily)

    China will not raise interest rates this week, People's Bank of China governor Zhou Xiaochuan has said, amid speculation that further monetary tightening measures would be taken to curb inflation and prevent the economy from overheating. ...
    2007-11-20 07:10:44

  • H&R Block's Mark Ernst Quits, Breeden Named Chairman (Update4)

    Bloomberg - The statement didn't say what will happen to Option One, which ranked as the sixth-largest U.S. subprime home lender through Sept. 30, according to trade publication Inside Mortgage Finance. Ernst had said the unit may be closed if it isn't sold. The ...
    2007-11-20 02:09:00

  • Mortgage lender Countrywide seeks to reassure investors amid rating ...

    CNBC - LOS ANGELES - Countrywide Financial Corp., the largest U.S. mortgage lender, sought to reassure investors Tuesday ... Shapiro noted in a research note that Countrywide's woes could worsen if the Federal Home Loan Mortgage Corp., or Freddie Mac ...
    2007-11-20 01:47:00

  • Countrywide plummets as mortgage jitters grow

    Washington Post - ... much as 22 percent on Tuesday to their lowest level in more than seven years on speculation that the largest U.S. mortgage lender ... Credit default swaps on Countrywide Home Loans Inc rose 160 basis points to 900 basis points, or $900,000 per year for ...
    2007-11-20 12:14:00

  • US mortgage lenders hit by Freddie woes

    Financial Times - Facing rising defaults on home loans and resulting credit losses, Freddie said it might have to cut its dividend and ... Countrywide, the largest US mortgage lender, fell by up to 17 per cent to a seven-year low amid concerns that potential funding ...
    2007-11-20 01:12:00

  • UAW chief worried about GM mortgage exposure

    Reuters - Bonds of GMAC's home mortgage unit, Residential Capital, also plunged on Monday, and the cost to insure GMAC bonds rose. Investors said ResCap, the No. 2 independent U.S. mortgage lender, may need further capital injection to avoid violating loan ...
    2007-11-20 09:58:00

  • Neither a borrower nor a lender be (especially with your family)

    Daily Mail - ... turn round failing schools with a culture of respect Man 'torched £350,000 home ... of Rhodesia for 15 turbulent years, dies aged 88 Neither a borrower nor a lender be ... cent suffered violence or the threat of violence and two per cent went into mortgage ...
    2007-11-20 04:25:00

  • Freddie chief blames mortgage crisis for $2bn loss

    Financial Times - ... Syron said he was disappointed that Freddie, the second largest buyer of US home ... Mr Syron blamed the meltdown in the US mortgage market and the attendant decline in ... effectively a surcharge on their operations – was not a penalty for the lender ...
    2007-11-20 03:35:00

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