Mortgage and Financial News From 2008-10-14 Page 01
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Local home loan opportunities available for qualified buyers - Sierra Sun
A home for sale in Sierra Meadows has a buyer. Emma Garrard/Sierra Sun The tightening of lending restrictions following the subprime mortgage crisis is dampening the sales of luxury homes in Truckee and Tahoe much more than modestly priced homes ...
2008-10-14 06:38:00 -
Housing slump could be over next year, MPs hear - Times Online
The housing market slump could be over as soon as next year if the cost of home loans falls by a further half-point, a leading housing market expert told MPs yesterday. David Miles, chief UK economist at Morgan Stanley, said that if mortgage rates ...
2008-10-14 04:15:00 -
Home affordability continues to improve - ONE News
Tax cuts and a drop in the property market are improving home affordability to its best in two years. The Wizard Home Loans Affordability report shows last month, it took 71.4% of the median take-home pay to service the mortgage of an average house ...
2008-10-14 08:47:00 -
Problem of Home Prices Remains - Wall Street Journal
The Treasury Department's rescue plan for the U.S. financial industry doesn't directly address the root cause of the crisis: falling home prices. Reuters Foreclosures in Stockton, Calif., discourage prospective sellers from putting their houses on ...
2008-10-14 06:38:00 -
Fitch Rates $304MM Green Tree 2008-MH1 - Forbes
Fitch rates Green Tree 2008-MH1 residential mortgage pass-through certificates, as follows: --$91,855,000 class A-1 'AAA'; --$90,925,000 class A-2 'BBB-'; --$121,378,000 class A-3 'BBB-'. The class A-2 pays sequentially to the class A-1 and the ...
2008-10-14 04:58:00 -
Home rental rates could start creeping up (CW Arkansas)
One Little Rock landlord and real estate attorney has advice for some home renters: prepare for your monthly rent to go up 8 to 15 percent. He says Fannie Mae and Freddie Mac adopted new regulations in the last few weeks that mean higher mortgages for landlords. And there's a good chance those costs will trickle down to renters.
2008-10-14 08:55:17 -
CML reports decline in August lending (Banking Business Review)
The UKs Council of Mortgage Lenders has reported that the house purchase lending in August 2008 was at GBP6 billion, 63% lower than in August 2007.
2008-10-14 08:57:28 -
Caught in the Crunch: It’s a buyer’s market (Old Colony Memorial & Plymouth Bulletin)
While politicians and financial gurus twist and tweak master plans to rescue the economy, many of the explanations the experts offer fall far outside the experience and expertise of the average American. But some of the day-to-day implications of all this financial turmoil are tough to miss, like the rollercoaster price of gasoline and the tumbling value of real estate. This is an ...
2008-10-14 09:03:54 -
Malaysia's Central Bank Ready to Safeguard Growth (Update1) (Bloomberg)
Oct. 15 (Bloomberg) -- Malaysia's central bank said it's ready to shift focus to boosting economic growth as inflation worries ease, as it forecast the nation's slowest expansion in eight years.
2008-10-14 09:31:05 -
Weather the storm (Moneymanager)
When fear grips the financial markets as it's doing now, investors and consumers close their wallets and look for shelter until the storm passes. But rather than passively waiting for the good times to roll again, canny investors will use this time to get their financial house in order.
2008-10-14 09:36:46 -
Credit crisis' next victim: bankruptcies (Dallas Morning News)
Companies seeking bankruptcy protection have a new hurdle, thanks to the credit crunch: finding money to survive the process. The frozen credit markets have choked lending to struggling companies that need loans just to make it through Chapter 11 restructuring.
2008-10-14 09:43:37 -
ANZ drops fixed rates by up to 0.8% (The West Australian)
ANZ Banking Group Ltd has cut the interest rates on fixed rate home loans by between 0.5 per cent and 0.8 per cent. The bank has dropped its rates on fixed mortgages by 0.8 per cent for terms of up to four years, and 0.5 per cent for terms between five and ten years.
2008-10-14 10:34:17 -
When Adjustable Rate Mortgages Make Sense - The Ledger
Borrowers generally hate adjustable rate mortgages, or ARMs, but this sentiment may be illogical, because ARMs often offer relatively low rates. After all, why would the average homeowner choose a high fixed interest rate for 30 years when he stays ...
2008-10-14 07:50:00 -
Indiana Community Bancorp Announces Third Quarter Earnings - MSN MoneyCentral
COLUMBUS, Ind. , Oct. 14 /PRNewswire-FirstCall/ -- Indiana Community Bancorp (the "Company") INCB , the holding company of Indiana Bank and Trust Company of Columbus, Indiana (the "Bank"), today announced quarterly earnings of $1,802,000 or $0.54 ...
2008-10-14 01:59:00 -
Uncle Sam, Inc. - Wall Street Journal
Yesterday's latest installment of bailout money has the government virtually annexing the financial sector. Most attention has focused on the glossy injection of government capital, called a partial nationalization. More far-reaching, and knottier to ...
2008-10-14 08:54:00