Mortgage and Financial News From 2008-3-7 Page 19

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• Stocks Drop Amid Credit Concerns

  Fort Lauderdale Sun-Sentinel - Wall Street is worried that Americans distressed about their home values or struggling with mortgage payments will pare their spending. Investors appeared to take an upbeat report from Wal-Mart Stores Inc. as a mixed signal.
  2008-03-07 03:25:00

• Agency Mortgage-Backed Bond Spreads Reach Highest Since 1986

  Bloomberg - March 5 (Bloomberg) -- The extra yield that investors demand to own so-called agency mortgage-backed securities over 10-year U.S. Treasuries rose to the highest since 1986, boosting the cost of loans for homebuyers considered the least likely to ...
  2008-03-05 08:36:00

• Mortgage costs soaring despite rate cuts

  This is Money - Yet the interest rate on Abbey's two-year fixed mortgage has gone up from 5.67% to 5.89%. Borrowers taking out the average new home loan of £155,000 will have to pay £240 more a year.
  2008-03-07 03:25:00

• Wall Street Chill Sweeps Across Pacific

  Forbes - Meanwhile, a report from the Mortgage Bankers Association revealed that foreclosures hit an all-time high in the fourth quarter of 2007 and that U.S. homeowners collectively have less home equity than mortgage debt outstanding for the first time ...
  2008-03-07 03:04:00

• Ahead of the Bell: Mortgage Applications

  Boston Globe - WASHINGTON— Home-loan data to be released Wednesday will show whether mortgage applications declined for the fourth-straight week as interest rates rose and refinancing applications plummeted. The Mortgage Bankers Association is scheduled to report ...
  2008-03-05 03:13:00

• Fisher Says Credit Markets May Not Force Fed to Act (Update1)

  Bloomberg - Yesterday, yields on agency mortgage-backed securities rose to a 22-year high relative to U.S. Treasuries, while the cost to protect corporate bonds from default climbed to a record.
  2008-03-07 03:11:00

• Bank stocks plunge following defaults

  Vancouver Sun - Canadian bank stocks took it on the chin Thursday after two U.S. financial institutions defaulted on credit obligations and U.S. home mortgage foreclosures rose to their highest level ever. Crude oil hit another all-time high as the U.S. dollar fell ...
  2008-03-07 12:41:00

• Ahead of the Bell: Mortgage Exec Hearing

  Boston Globe - WASHINGTON— Top banking executives whose companies are still reeling from the mortgage crisis will come to Capitol Hill on ... losing a combined $20 billion in the second half of 2007, Waxman wants to know how much the top executives are taking home ...
  2008-03-07 03:33:00

• Citigroup plans to shrink its US mortgage businesses by integrating ...

  PR Inside - The New York-based bank said Thursday it will integrate its mortgage businesses, including Citi Home Equity and Citi Residential Lending, into CitiMortgage.
  2008-03-07 03:11:00

• Carlyle Capital Suspended; Lenders Force Asset Sales (Update3)

  Bloomberg - March 7 (Bloomberg) -- Carlyle Group's mortgage-bond fund was suspended in Amsterdam trading after creditors forced the sale of some holdings, jeopardizing shareholders' capital. Lenders who issued default notices have liquidated some residential ...
  2008-03-07 03:33:00

• HOME FORECLOSURES HIT RECORD LAST YEAR

  New York Post - March 7, 2008 -- WASHINGTON, DC - US home foreclosures hit a record late last year amid a shakedown in the subprime mortgage market that is taking its toll on the broader economy, and the net wealth of US households fell for the first time in five ...
  2008-03-07 03:33:00

• Asian markets tumble after more U.S. mortgage fears (Kitchener/Waterloo Record)

  Asian markets plunged Friday after another overnight drop on Wall Street that was spurred by news about rising foreclosures on U.S. mortgages.
  2008-03-07 03:50:06

• Hong Kong Index Plunges 3.6 Percent (AP via Yahoo! Finance)

  Hong Kong's stock market plunged Friday, dragged down by expectations of more write-offs at banks linked to risky U.S. home loans, highlighting persistent worries about the American economy.
  2008-03-07 03:52:04

• Jail Inmate Claims Medical Mistreatment (WESH 2 Orlando)

  A Seminole County jail inmate suffers an eye injury after he claims he was attacked by other inmates.
  2008-03-07 03:53:04

• World markets tumble amid US worries (WTHR Indianapolis)

  Asian and European markets fell Friday after another overnight drop on Wall Street that was spurred by news about rising foreclosures on U.S. mortgages, intensifying concerns about the world's largest economy.
  2008-03-07 03:53:17

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