Mortgage and Financial News From 2007-8-20 Page 10

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  • UK mortgage lending remains firm in July despite rate rises - BBA

    Forbes - Longer-term trends in mortgage lending are little changed but July's strong rise was surprising, given the expected cumulative impact of higher interest rates,' said David Dooks, director of BBA statistics. The BoE has raised interest rates five times ...
    2007-08-20 09:46:00

  • KKR Financial says may take $200 mln charge

    Reuters - The San Francisco-based specialty finance firm said it recently sold $5.1 billion of residential mortgage assets and interest rates swaps, which will result in a $40 million loss. After that sale, it will own about $5.8 billion in mortgage loans ...
    2007-08-20 11:48:00

  • Dutton Research Upgrades MortgageBrokers.com's rating to a

    MSN MoneyCentral - The Canadian mortgage market continues to grow, helped by low mortgage rates that make home ownership possible, even as housing prices rise. For complete research note and disclosures please visit : http://www.jmdutton.com/research/MBKR/index.html
    2007-08-20 11:48:00

  • Housing woes hit high end

    CNN Money - BankRate.com reports that the average tariff on jumbo loans soared to 7.35% nationally in August, and many mortgage brokers are reporting figures that exceed 8%. Increased rates on big home loans translate to a substantial decline in buying power ...
    2007-08-20 01:42:00

  • Risk returns with a vengeance

    CNN Money - For housing, rising mortgage rates are bound to deepen the slump. Since May the rates on jumbo loans (those over $417,000, which can't be sold to Fannie Mae or Freddie Mac) have jumped by ¾ of a point. Customers with poor or mediocre credit ...
    2007-08-20 01:42:00

  • Luminent Mortgage Capital, Inc. and Arco Capital Corporation Enter ...

    Forbes - ... transactions with Arco will not be consummated and that such transactions will not be ultimately successful in fully addressing Luminent's liquidity challenges and cash needs; -- changes in interest rates and mortgage prepayment ...
    2007-08-20 11:33:00

  • Congress to hold hearings on ratings firms

    CNN Money - Shelby said banks would increase their mortgage rates in the coming weeks, exacerbating a credit crisis that has snowballed in recent weeks as defaults on risky U.S. subprime mortgages hit banks across the globe. "I think it will get worse before it ...
    2007-08-20 02:11:00

  • 'Job cuts' at US mortgage lender

    BBC News - Countrywide Financial, the biggest US mortgage firm, has begun laying off staff as it tries to weather the credit crunch, according to US media reports. The company has been hit by sub-prime mortgage defaults as rising interest rates in the US have ...
    2007-08-20 01:49:00

  • Caution on 'good news'

    News.com.au - ON Friday the governor of the Reserve Bank, Glenn Stevens, finally said the unsayable, far less the undoable. And everyone in effect yawned. That yes, he would raise the official interest rate and so mortgage rates, even in the middle of an election ...
    2007-08-20 02:04:00

  • Thornburg Mortgage Stabilizes Its Financing Platform and Plans to

    MSN MoneyCentral - Goldstone continued, "In response to the continued daily deterioration of the global mortgage finance markets and the decline in non-mortgage related interest rates, we took immediate, decisive action over the past two weeks to reduce the company ...
    2007-08-20 12:16:00

  • Bank may still raise interest rates

    Reuters UK - LONDON (Reuters) - Mortgage lending, house price inflation and money supply growth accelerated last month, suggesting the Bank of England might still have to raise interest rates this year despite financial market wobbles. The BoE has hiked borrowing ...
    2007-08-20 10:58:00

  • Re-mortgage rush as new loans drop a third

    Times Online - Mortgage approvals fell by by more than a third last month in a clear sign that higher interest rates are beginning to hit the property market. The Building Socities Association today said that £4 billion-worth of new home loans were rubber stamped ...
    2007-08-20 09:46:00

  • 'Job cuts' at US mortgage lender (BBC News)

    Reports say mortgage giant Countrywide Financial has started to cut staff numbers as it tries to weather the credit crunch.
    2007-08-20 10:49:30

  • Subprime mortgage crisis spreads to high-end homes (Fortune via Yahoo! Finance)

    What could the collapse in the subprime mortgage market possibly have to do with whether Dr. Jeffrey and Madeline Stier get full price for their four-bedroom house in the wealthy New York City suburb of Larchmont?
    2007-08-20 12:44:00

  • Mortgage lending still 'robust' (BBC News)

    Mortgage lending is still rising at a "robust" rate despite hikes in the cost of borrowing, says the Council of Mortgage Lenders.
    2007-08-20 09:21:01

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