Mortgage and Financial News From 2007-9-5 Page 16
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Testimony of Robert K. Steel Under Secretary for Domestic Finance U.S. Department of the Treasury Before the House ... (United States Department of the Treasury)
Chairman Frank, Ranking Member Bachus, Members of the Committee, good morning. I very much appreciate the opportunity to appear before you today to present the Treasury Department's perspective on the recent events in the credit and mortgage markets and their impact upon consumers and the economy.
2007-09-05 08:04:44 -
The Lending Group Sees Refinance Solution to Help Homeowners Survive the Mortgage Bubble (PRWeb via Yahoo! News)
California based lender urges a new fixed-rate program to help homeowners facing adjustable rate woes.
2007-09-05 12:01:00 -
The Lending Group Sees Refinance Solution to Help Homeowners Survive the Mortgage Bubble (PRWeb)
California based lender urges a new fixed-rate program to help homeowners facing adjustable rate woes. (PRWeb Sep 5, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/RmFsdS1GYWx1LUxvdmUtSW5zZS1UaGlyLVplcm8=
2007-09-05 12:35:16 -
Congress Poised To Grill Regulators on Mortgage Crisis
NewsFactor Network - An estimated 2 million adjustable-rate mortgages are scheduled to "reset" this year and next, jumping from low "teaser" rates for the first two or three years to much steeper rates that could cost borrowers their homes. The wave of resets could crest ...
2007-09-05 07:28:00 -
UPDATE 1-Bank of Canada holds rates, scraps talk of hike
Reuters - The bank omitted a reference to the need for a "modest further increase" in rates -- a comment it made when it raised ... But it also said the meltdown in the U.S. subprime mortgage market could put a brake on growth in the months to come. "Recent ...
2007-09-05 06:38:00 -
Interest rates cut talk sparks fall in dollar value
News.com.au - THE domestic currency closed weaker today after an influential analyst suggested the Reserve Bank of Australia would cut interest rates if the United States loosened its monetary policy to tackle the sub-prime mortgage-instigated credit crunch. The ...
2007-09-05 01:01:00 -
Ahead of the Bell: Pending Home Sales
Forbes - As investors and lenders fled the market, mortgage rates spiked, credit tightened and more than 50 lenders filed for bankruptcy. Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or ...
2007-09-05 03:39:00 -
BoE Offers Extra Cash to Banks
Forbes - The Bank of England offered extra cash to reduce "unusually high" overnight lending rates Wednesday, reflecting concerns about dwindling credit spurred by the collapse of the U.S. subprime mortgage market. In its first public statement since fears of ...
2007-09-05 06:45:00 -
Minority borrowers pay high loan rates
Palm Beach Post - ... loans last year than whites were, a study scheduled to be released today shows. Besides the racial disparity the study reveals, the findings suggest that minority borrowers have a higher risk of foreclosure because of their subprime mortgage rates. ...
2007-09-04 09:26:00 -
OECD cuts U.S. forecast, recession not ruled out
Reuters - DUBLIN (Reuters) - The OECD on Wednesday reduced its forecast for U.S. economic growth and recommended a rapid cut in interest rates to limit the fallout from a housing and mortgage market slump that has sparked global financial market turmoil. In an ...
2007-09-05 07:42:00 -
Economists worried as real interest rates soar
Australian Broadcasting Corp. - And if it goes on, the credit crunch will mean higher home mortgage rates and other finance costs for families. Mr Hogan says the effects are worse than a rate rise by the RBA. "These money market rates are the benchmark rates ultimately for lending to ...
2007-09-05 03:39:00 -
Fed calls for loan leniency
Chicago Tribune - President Bush offered a proposal last week to help borrowers in danger of losing their homes because their mortgage rates will reset to higher levels under adjustable-rate loans they took out. Bush said they would be eligible for Federal Housing ...
2007-09-05 05:55:00 -
Average house price near £200,000
BBC Business - The increase in mortgage rates since last summer is having an effect on housing affordability and will bite further during the coming months," said Martin Ellis, the Halifax chief economist. "Negative real earnings growth in the first six months of ...
2007-09-05 06:31:00 -
U.S. Mortgage Applications Climb, ARM Rates Higher
CNBC - Applications for U.S. home loans rose last week, while the highest adjustable rate mortgages in over six years put another nail in the coffin of the once-torrid sector, an industry group's data showed on Wednesday. The Mortgage Bankers Association's ...
2007-09-05 04:07:00 -
Mortgage application volume rises 1.3 percent as interest rates barely ...
CNBC - WASHINGTON - Mortgage application volume increased slightly during the week ending Aug. 31, as interest rates held nearly steady, industry trade group the Mortgage Bankers Association said Wednesday. The MBA's mortgage application index increased 1.3 ...
2007-09-05 05:33:00
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