Mortgage and Financial News From 2007-9-17 Page 01

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  • Minorities paid more for loans in '06

    FreeportJournal Standard - Since 2004, HMDA data has also included information on loan pricing: lenders are required to ... High-priced mortgages accounted for a much lower share, just 17.7 percent, of the mortgage loans made to white borrowers. The story is story with refinance ...
    2007-09-17 05:43:00

  • Mortgage bailouts draw critics (The Press-Enterprise)

    GOVERNMENTS: Some say it sends a bad message and homebuyers knew what they were doing.
    2007-09-17 07:20:36

  • Mortgage crisis puts scores in foreclosure, senators told (The Star-Ledger)

    At least 8,000 of the 143,898 New Jersey borrowers who opted for subprime mortgages went into foreclosure in the first half of this year, state Division of Banking officials said yesterday.
    2007-09-17 09:54:41

  • Bay Area Renters Still Pay High Prices Amid Mortgage Crisis (KCRA 3 Sacramento)

    The cost of renting an apartment in the San Francisco Bay Area has surged in the past year thanks in part to turmoil in the mortgage industry, according to new data from regional housing groups.
    2007-09-17 08:03:30

  • If Interest Rates Go Down, Will It Help Now?

    WCCO - Over time, maybe over the next few months if confidence starts to build that the economy is going to be okay, then mortgage rates come down somewhat. But immediately, I don't think there is going to be as much as there has been in the past," said ...
    2007-09-17 04:03:00

  • Market report: Sage one of the few bright spots as clouds hang over ...

    Daily Telegraph - Dealers said the sector was being hit by worries that the housing market could slow down as a result of tighter lending conditions and higher mortgage rates due to the credit crunch. Sentiment was not helped by former Fed chairman Alan Greenspan, who ...
    2007-09-17 10:30:00

  • Trading suspended briefly in troubled British mortgage company ...

    International Herald Tribune - You're already beginning to see the mortgage rates are moving; a lot of the two-year fixes are beginning to unwind, and the teaser rates are going," he said. Britain is more vulnerable to a credit crunch than the United States, Greenspan said. "Britain ...
    2007-09-17 04:36:00

  • Greenspan predicts falling house prices, rising inflation

    Guardian Unlimited - Prices in the UK would also drop, he said, pointing out that mortgage rates were already going up as banks woke up to their bad debts. "There are going to be some difficulties. In fact, you can see the banking system is writing off a lot of ...
    2007-09-17 06:41:00

  • Greenspan says tried but failed to raise U.S. mortgage rates

    Marketwatch - WASHINGTON (MarketWatch) -- Former Federal Reserve Board chairman Alan Greenspan says he tried to raise mortgage rates to head off a housing bubble, but the effort came to naught because of "global forces" that had the effect of keeping long-term ...
    2007-09-17 02:16:00

  • Shares of smaller banks hit in fall-out

    Financial Times - There is also a recognition that rising mortgage rates in the UK will squeeze demand for new loans and may put pressure on house prices, thereby undermining the value of lenders' loan books. The sharp rise in inter-bank rates is also squeezing banks ...
    2007-09-17 08:42:00

  • Mortgage stress hits middle classes

    News.com.au - Mr Johnson said rising mortgage stress caused by heavy indebtedness and rising interest rates, plus escalating credit card debt, would eventually slow credit growth and hurt bank profits, Slowing individual credit growth would be compounded by a drop ...
    2007-09-17 10:15:00

  • On property taxes: Tighten reins on hikes in local budgets

    Miami Herald - • The state Legislature, although well-intentioned, missed the boat on the property tax issue. What has driven property taxes through the ceiling is the inflation in property values resulting from the low mortgage rates over the past five or so ...
    2007-09-17 02:23:00

  • Japan Central Bank May Hold Rates Steady

    Forbes - Worries about slower economic growth at home and in the U.S. - Japan's biggest export market - are likely to keep the Bank of Japan from changing interest rates at a two-day policy board meeting starting Tuesday. Before problems in the U.S. mortgage ...
    2007-09-17 10:30:00

  • Where Are All the Real Estate Deals?

    BusinessWeek - Right now, across the country, this is a good time to buy," says Gillespie, citing the usual three incentives—lower prices, high inventory, and relatively low mortgage rates. Gillespie recently purchased an investment property in Fayetteville, Ark ...
    2007-09-17 09:04:00

  • Credit crunch to push up rates

    News.com.au - Problems in global credit markets began to emerge at the end of July, when high rates of defaults in the US sub-prime mortgage sector caused some financial institutions to lose significant amounts of money on investments in assets backed by sub-prime ...
    2007-09-17 09:11:00

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