Mortgage and Financial News From 2007-12-7 Page 7

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  • BoE's Rate Cut Risks Inflation Rise

    BusinessWeek - Michael Coogan, Director General of the Council of Mortgage Lenders added: "This will reduce the risk of payment shock for the 1.4 million borrowers coming off fixed rates in the next year." Analysts are eagerly awaiting the minutes of the MPC's ...
    2007-12-07 12:37:00

  • Rate relief for homebuyers

    Daily Telegraph - Speaking at the Council of Mortgage Lenders' (CML) annual conference in London earlier this week, Clive Briault, retail markets managing director of the Financial Services Authority (FSA), said: "It would be prudent to assume that ...
    2007-12-07 03:50:00

  • A new mortgage? That'll be £10,000: Lenders raise fees to ...

    Daily Mail - 'Back from the dead' canoeist tells police: 'It's all coming back to me now' Lying canoe 'widow' begs her furious sons: 'Please forgive me' as she flies home to face arrest Now Portuguese author claims Madeleine and the twins were NEVER in holiday ...
    2007-12-07 04:05:00

  • UK owners may be forced to sell homes

    Financial Times - Homeowners may be forced to sell next year and join the ranks of renters when lenders tighten terms for borrowers with poor credit histories, the Council of Mortgage Lenders warned yesterday. Michael Coogan, director-general, urged the government to ...
    2007-12-07 01:56:00

  • INTERVIEW-Ohio mortgage market probe gains steam

    Reuters - Prompted by a rash of homeowner defaults and foreclosures rocking Ohio communities, Dann this summer launched an investigation that questions whether mortgage lenders, investment banks and rating agencies created a system that sold homes and ...
    2007-12-07 02:39:00

  • Coleman supports mortgage plan (Minnesota Public Radio)

    Republican U.S. Sen. Norm Coleman says he's pleased with an agreement the Bush administration negotiated with mortgage lenders to freeze interest rates on at-risk subprime mortgages.
    2007-12-07 08:06:44

  • More lenders cut mortgage rates (Channel 4)

    Three lenders announced they were reducing their mortgage rates following Thursday's interest rate cut, but the majority continued to sit on their hands.
    2007-12-07 08:40:21

  • Congress still pushing lending bills

    Boston Globe - WASHINGTON— Legislative efforts to address the housing crisis were overshadowed this week -- but not stymied-- by the Bush administration's promotion of an interest-rate freeze for some borrowers. Analysts say the Bush plan, described by consumer ...
    2007-12-07 03:00:00

  • House prices will continue to fall despite latest rate cut, says HBOS

    Times Online - The interest-rate rises accumulated since August 2006 would continue to weigh on the market, even despite Thursday’s cut from the Bank of England, HBOS said, but, in its annual Economic Outlook , the lender added: “A slower housing market must be ...
    2007-12-07 01:42:00

  • Hiring up modestly, jobless rate steady

    BusinessWeek - To stave off the possibility of a recession, the Federal Reserve has sliced a key interest rate twice this year. Many expect rates to be lowered for a third time when policymakers meet Tuesday. A reduction of at least one-quarter percentage point is ...
    2007-12-07 02:32:00

  • US STOCKS-Futures up on jobs data, rate cut seen

    Reuters - Last: NEW YORK, Dec 7 (Reuters) - U.S. stocks looked set to rise on Friday after government data showed slightly higher-than-expected job growth last month but not so much to dim expectations of a Federal Reserve interest-rate cut. Comments by Fed ...
    2007-12-07 02:53:00

  • U.S. Stocks Fall on Rate Speculation; American Express Declines

    Bloomberg - Dec. 7 (Bloomberg) -- The Standard & Poor's 500 Index fell for the first time in three days as a better-than-expected employment report tempered speculation the Federal Reserve will cut interest rates by 0.5 percentage point next week. American ...
    2007-12-07 02:10:00

  • U.S. Sees Job Growth, Rate Cut Still Likely

    Forbes - The number of jobs in the United States swelled more than expected last month. The favorable economic data, however, probably will not enough to dissuade the Federal Reserve from cutting interest rates Tuesday. The Labor Department said Friday that ...
    2007-12-07 02:03:00

  • Why the Rate Freeze Won't Warm the Economy

    US News and World Report - It will bail out some drowning homeowners, but don't expect the Bush administration's subprime survival plan to do much for the broader economy. The "voluntary" deal with lenders will freeze the interest rates on several hundred thousand subprime ...
    2007-12-07 03:00:00

  • U.S. gold ends lower on oil, rate-cut expectation

    Reuters - NEW YORK, Dec 7 (Reuters) - U.S. gold futures finished lower on Friday as crude oil prices tumbled and after a robust U.S. jobs report lowered the chance of a large cut in key interest rates by the Federal Reserve next week. Precious metals could ...
    2007-12-07 03:22:00

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