Mortgage and Financial News From 2007-9-15 Page 6
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Borrower beware with option arm mortgage loan (The Advocate)
The option arm loan program became one of the most popular mortgage choices for borrowers in the past few years because of its payment flexibility. Now this same payment flexibility has made it one of the most scrutinized loan programs in history.
2007-09-15 04:00:53 -
Bail-out on the high street: what it will mean for you
Times Online - Are mortgage rates generally going up? Some are. Halifax, Abbey and Standard Life have all increased their tracker mortgages in ... But both sets of figures are distorted by the introduction of home information packs - badly so in the case of Rightmove ...
2007-09-15 02:40:00 -
Banks declare interest rate war
Stuff - As the cost of buying a home blows out to a record high, Kiwibank's aggressive new mortgage rates may provide relief for borrowers and a boost to the flagging housing market. Money editor Rob Stock reports. Kiwibank is to fire the first shot in a ...
2007-09-15 02:04:00 -
Mortgage madness will end in inflation, inflation, inflation
Sunday Herald - I'm sure Northern Rock will be equally eager to help those low-income home owners who will be unable to pay the increased mortgage rates the bank will be charging in future as it tries to rebuild its finances. Of course, everyone insists that NR is a ...
2007-09-15 01:42:00 -
No one predicts a quick fix
Minneapolis Star Tribune - ... down the rate by three-quarters or a full percentage point. For borrowers, those moves could mean that their monthly payments on home-equity lines of credit, credit cards and other debt tied to short-term rates could fall. The effect on mortgage and ...
2007-09-15 02:25:00 -
Ten ways to save thousands on your second home in the su4
Times Online - ... mortgage for your holiday home ... rates are about 8%.” Therefore, if you have equity tied up in your home in Britain, you would be better off remortgaging to release money to buy the property outright. You can get a 20-year fix at 8% in Cape Verde. A mortgage ...
2007-09-15 02:54:00 -
Sales drop to lowest level since 1990s downturn
Record - And sales - 118 in August - dropped to the lowest level not seen since ... Interest rates have been coming down and likely will come down more, he said. Also, there is money out there for mortgage loans, he said, even with credit as tight as it has been ...
2007-09-14 11:52:00 -
Credit Jitters Rock a U.K. Mortgage Lender
Barron's Online - That business model worked when interest rates were low and securitized-mortgage buyers were plentiful. But it's a dangerously narrow way to ... The 10% slide Thursday in Alcatel-Lucent's stock to its lowest level since early 2003 underscores how little ...
2007-09-15 05:00:00 -
Refinancing looks good as mortgage rates decline
Tacoma News Tribune - WASHINGTON – Rates on 30-year mortgages dropped this week to the lowest point in four months, providing some relief for people hoping to refinance their existing mortgages. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed ...
2007-09-14 12:22:00 -
U.S. consumer confidence tumbles to lowest in over year
Stockhouse Canada - U.S. consumer confidence tumbles to lowest in over year 9/15/2007 3:05:00 PM ET ... that can be avoided and are counting on the Federal Reserve to cut interest rates ... Credit problems in mortgage and other markets make it likely the worst housing slump ...
2007-09-15 12:17:00 -
Home loan demand up as interest rates tumble (Washington Post)
NEW YORK (Reuters) - Mortgage applications rose for a second straight week as interest rates sank to their lowest since May, data from an industry trade group showed on Wednesday.
2007-09-12 10:20:43 -
Kiwibank profit growth slows but mortgage market share rises
Stockhouse Canada - It's generally lower margin and lower value loans because the duration of the loans is lower.' The big challenge for mortgage brokers 'is to be able to prove that the value of the loans they're originating is as high or higher than the loans the ...
2007-09-15 01:50:00 -
How bad is mortgage crisis? It depends on where you stand
St. Petersburg Times - Mortgage delinquency problems affect only people with outstanding loans, and more than one out of three homeowners own their properties debt-free. Of the remaining two-thirds of all owners with active mortgage accounts the latest survey examined 44 ...
2007-09-15 05:57:00 -
Buyer be where?
Los Angeles Times - Possible" extravaganza in 49 communities throughout Southern California, with bonuses for buyers totaling as much as $20 million. Standard Pacific is aiming to sell 200 homes by offering mortgage loans with rates of less than 6% and other perks ...
2007-09-15 03:41:00 -
UPDATE 2-Countrywide lines up $12 bln financing; loans fall
Reuters - NEW YORK, Sept 13 (Reuters) - Countrywide Financial Corp (CFC.N: Quote , Profile , Research ), the largest U.S. mortgage lender, said on Thursday that it had lined up $12 billion of secured financing to help cope with a housing slowdown that has ...
2007-09-13 08:01:00