Mortgage and Financial News From 2007-10-30
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Mortgage approvals at two-year low (Reuters.co.uk)
LONDON (Reuters) - Tougher loan conditions are beginning to impact the housing market, reports showed on Monday, with mortgage approvals at their lowest level for two years, and lenders saying prices will be almost flat in 2008.
2007-10-29 12:05:10 -
Property repossessions to rise by 50 per cent next year, say lenders (Times Online)
Property repossessions are set to soar next year as the end of the decade-long house price boom brings pain to overstretched borrowers, the country’s mortgage lenders said yesterday.
2007-10-29 03:07:24 -
The Mortgage Lender offers "no churn" guarantee (Money Marketing Online)
The Mortgage Lender is offering a ‘no churn’ guarantee to its panel of lenders as the industry moves into what it says will be “an extremely choppy 2008”. ...
2007-10-30 07:19:09 -
U.S. Tosses Lifeline to Mortgage Lenders Using Home Loan Banks (Bloomberg.com)
Oct. 30 (Bloomberg) -- Banks shut out of the market for short-term loans are finding salvation in a government lending program set up to revive housing during the Great Depression.
2007-10-30 05:24:59 -
Another Fed Rate Cut Expected
The Ledger - What's not so apparent is how they'll deal with the crisis, although another interest rate cut could come this week. In recent speeches, Fed policymakers have stressed that the country is going through a period marked by a high degree of ...
2007-10-30 03:45:00 -
HOW A FED INTEREST-RATE CUT MAY BACKFIRE
New York Post - October 30, 2007 -- THE last time the Federal Re serve cut borrowing costs, the interest rate on home mortgages went up. Huh! I'll say it again. When the Fed attempted to rescue the housing industry in August by cutting its funds rate and reducing ...
2007-10-30 12:53:00 -
US Rate Cut Bets Scaled Back, Boosting Dollar
CNBC - As the markets almost fully priced in a 25 basis points cut, no change may support the dollar versus European currencies in terms of the interest rate differential. But when such an outcome dents the sentiment in the equity market, the yen may face ...
2007-10-30 04:49:00 -
WALL STREET OUTLOOK Lower open seen as market awaits Fed rate decision
CNBC - LONDON (Thomson Financial) - Wall Street is looking at a lower open as investors paused for breath after a two-session run of gains sparked by expectations the Federal Reserve will cut interest rates to boost economic growth. According to spread ...
2007-10-30 03:45:00 -
Barker damps rate cut hopes
Guardian Unlimited - Kate Barker, one of the swing voters on the Bank of England monetary policy committee, has dampened hopes that UK interest rates will be cut this year. Ms Barker, on a visit to the Channel Islands, indicated that this summer's financial market ...
2007-10-30 03:45:00 -
Thai shares close lower on profit-taking ahead of Fed rate decision
Forbes - BANGKOK (Thomson Financial) - Thai share prices closed lower on Tuesday as investors locked in profits in the energy sector following sharp gains the previous day. Investors also stayed on the sidelines on the eve of a key US interest rate decision ...
2007-10-30 04:35:00 -
US futures slip over rate cut uncertainty
News.com.au - US stocks looked poised for a lower open today after a Wall Street Journal article cast doubt on the chances of a Federal Reserve interest rate cut tomorrow. Stocks have made gains over the past week on a widely held view the Fed would cut rates by ...
2007-10-30 05:32:00 -
ECB average refi rate 4.16 pct; marginal rate 4.14 pct; awards 170 bln ...
Forbes - FRANKFURT (Thomson Financial) - The European Central Bank said the weighted average interest rate on accepted bids at today's main refinancing operation rose to 4.16 pct from 4.14 pct last week. The marginal rate -- the lowest rate at which bids were ...
2007-10-30 03:45:00 -
Sweden's Riksbank Raises Key Rate to Damp Inflation (Update2)
Bloomberg - Oct. 30 (Bloomberg) -- Sweden's central bank raised its benchmark interest rate to a five-year high and said it will lift it once more in the second half of next year on concern falling unemployment and surging wages will stoke inflation. The ...
2007-10-30 03:09:00 -
TREASURIES-Bonds slip as traders scale back rate-cut view
Reuters - NEW YORK, Oct 30 (Reuters) - U.S. government debt prices slipped on Tuesday, as traders scaled back their expectations that the Federal Reserve would lower short-term interest rates steadily to counter a faltering housing market. As the Fed was about ...
2007-10-30 06:30:00 -
Dollar Rises From Record Low Versus Euro on Reduced Rate Bets
Bloomberg - Oct. 30 (Bloomberg) -- The dollar rose from near a record low versus the euro as investors trimmed bets that the Federal Reserve will cut interest rates when they conclude a two-day meeting tomorrow. Traders scaled back the odds of a quarter ...
2007-10-30 06:15:00