Mortgage and Financial News From 2007-11-5 Page 01

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  • PM - Coalition tries to duck rates talk

    Australian Broadcasting Corp. - Well, I make this point, that home mortgage interest rates at 8.3 per cent are, what, I think they were 10.5 per cent when I became Treasurer, so they're two per cent lower. CHRIS UHLMANN: By this afternoon even Sydney private schoolgirls were bowling ...
    2007-11-05 09:43:00

  • AM - Costello repeats warnings on Labor's economic policies

    Australian Broadcasting Corp. - So, bear this in mind, that during the previous government, the previous Labor government, the home mortgage interest rate was never, never as low as the current rate, and that was even when we were in the worst recession in 60 years. Now when you're ...
    2007-11-05 09:43:00

  • Home Depot, Lowe's fall after downgrade

    Reuters - Deutsche Bank cited concern that the recent mortgage turmoil will lead to further declines in monthly existing home sales. "Housing isn't getting better and in fact is getting worse," Baker said in the note. Additionally, Sanford Bernstein analyst ...
    2007-11-05 03:24:00

  • High US home inventories a major concern

    FXStreet.com - Former Federal Reserve Chairman Alan Greenspan said on Tuesday that falling U.S. home prices and high home inventories raised major concerns amid the ongoing turmoil in the subprime mortgage market. He added that the slide in the dollar was neutral ...
    2007-11-05 09:58:00

  • Fed: Mortgage Standards Tightening

    Philadelphia Inquirer - WASHINGTON - More banks have tightened lending standards on home mortgages, the Federal Reserve said Monday in the latest sign of fallout from a spreading credit crisis. The Fed said that many banks reported tighter standards for traditional prime ...
    2007-11-05 12:25:00

  • NAMB Introduces Lending Integrity Seal of Approval

    PR Newswire - Wells Fargo Home Mortgage, one of the country's leading mortgage lenders, has already issued a statement commending NAMB on setting this new standard. "Wells Fargo supports industry actions taken on behalf of the consumer, and NAMB's Lending Integrity ...
    2007-11-05 08:03:00

  • Outlook Roundup: Warnaco, Novatel

    CNBC - ATLANTA (AP) _ Home builder Beazer Homes USA Inc. said Monday its fiscal fourth-quarter net new home orders fell 53 percent, blaming an exceptionally high cancellation rate of 68 percent stemming from the ongoing slump in the home mortgage industry. ...
    2007-11-05 03:31:00

  • Japan's Leading Economic Index Drops to Decade-Low 0% (Update3)

    Bloomberg - Exports grew at the slowest pace in two years in September as the subprime mortgage crisis roiled Japan's biggest overseas market. Shipments to the U.S. fell the most in almost four years. The coincident index, a reading of current ...
    2007-11-05 10:05:00

  • Oversea-Chinese's 3rd-Quarter Profit Below Estimates (Update2)

    Bloomberg - Growth was curbed by a S$221 million charge on investments linked to U.S. mortgage investments. ``Singapore construction loans have been very buoyant, Malaysia loans are gaining momentum and Bank NISP appears to have gotten back to the ...
    2007-11-05 10:05:00

  • Citigroup Names Stuckey to Run Subprime Group After Writedowns

    Bloomberg - Nov. 6 (Bloomberg) -- Citigroup Inc. named Richard Stuckey to manage most of its $43 billion of subprime mortgage assets, choosing the same executive who nine years ago helped unwind Long-Term Capital Management LP's bad bets. Stuckey, 51, will run ...
    2007-11-05 10:33:00

  • Jury goes home without verdict in Shields’ mortgage fraud case

    Kansas City Star - A federal jury resumed deliberations about 8:20 this morning in the mortgage fraud case involving former Jackson County Executive Katheryn Shields. It left shortly after 4 p.m. without reaching a verdict. Shields and her husband, Philip Cardarella ...
    2007-11-05 02:27:00

  • US stocks fall as Citigroup says mortgage losses will increase

    Nation - Thailand - New York - US stock markets slid on Monday led by financial shares on investor concerns that losses tied to risky home mortgage loans will continue after Citigroup said its revenues could decline further by up to 11 billion dollars. Shares of ...
    2007-11-05 05:33:00

  • RBA feels mortgage pressure

    News.com.au - ... go up, it will be the first time an increase has been decided during an election campaign. This group of nine, with our fate in their hands, is not one that shies away from debt. Mortgage records show they have taken out close to $12 million in home ...
    2007-11-05 09:07:00

  • Beazer 4th-qtr new home orders fall

    Boston Globe - ATLANTA -- Home builder Beazer Homes USA Inc. said Monday its fiscal fourth-quarter net new home orders fell 53 percent, blaming an exceptionally high cancellation rate of 68 percent stemming from the ongoing slump in the home mortgage industry ...
    2007-11-05 02:48:00

  • US stocks fall as Citigroup says mortgage losses will increase (EARTHtimes.org)

    New York - US stock markets slid on Monday led by financial shares on investor concerns that losses tied to risky home mortgage loans will continue after Citigroup said its revenues could decline further by up to 11 billion dollars. Shares of Citigro...
    2007-11-05 03:40:28

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