Mortgage and Financial News From 2007-8-23 Page 17

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  • Mortgage Woes to Hurt Auto Sales (AP via Yahoo! Finance)

    The ongoing slump in new-home sales and turmoil in the subprime mortgage industry will continue to hurt U.S. sales of light vehicles for the rest of the year and into 2008, according to an automotive market forecasting firm.
    2007-08-22 08:54:57

  • Central Banks See Turmoil Sparing Growth, Stay Course on Rates (Bloomberg.com)

    Aug. 23 (Bloomberg) -- Central bankers from Santiago to Seoul are raising interest rates to fight inflation in a bet that this month's global financial-market turmoil won't derail economic growth enough to contain prices at home.
    2007-08-23 03:06:34

  • CORRECTED: Mortgage crisis widens at Accredited, Lehman (Reuters via Yahoo! News)

    Fallout from the U.S. mortgage and credit crisis spread on Wednesday as Accredited Home Lenders Holding Co, HSBC Holdings Plc and Lehman Brothers Holdings Inc said they will slash 3,400 jobs as concern mounted about the longer-term impact on the economy.
    2007-08-22 11:31:39

  • U.S. home foreclosures rise 9% in July

    Providence Business News - ... lending crisis, which has spurred lenders to tighten credit, and the real estate slump that has depressed home values both are exacerbating the problem by making it more difficult for troubled borrowers to refinance, RealtyTrac noted. “Home ...
    2007-08-21 05:30:00

  • Schumer presses regulators to help homeowners avoid foreclosure

    Observer-Reporter - ... plan in Congress to provide $100 million to nonprofit housing groups to help troubled subprime borrowers - those with blemished credit histories - refinance their homes. Those borrowers have been hardest hit as interest rates have risen and home ...
    2007-08-23 07:19:00

  • Despite good ratings, a fund is shunned

    International Herald Tribune - ... made no difference to investors who refused to buy Ottimo's $3 billion of short-term debt this month as losses on home ... Aladdin sold $20.5 billion of securities at about 95 cents on the dollar to pay down commercial paper it could not refinance. ...
    2007-08-23 07:05:00

  • New-home sales down a third

    Rocky Mountain News - The report by the Genesis Group shows there were 5,842 new-home sales in the metro area in the first six months, compared ... mortgage applications were filed last week, the biggest decline in almost three months, reflecting less demand to refinance and ...
    2007-08-23 06:01:00

  • Proposals From the Stump

    Washington Post - Advocates a "home rescue fund for all the millions of Americans who are worried about losing their homes." Sen. Hillary ... and Sen. Barack Obama (D-Ill.) have called for the creation of a fund by the federal government to help homeowners refinance ...
    2007-08-23 06:58:00

  • More Than 200 Displaced By Care Home Blaze (WJAC 6 Johnstown)

    While hospitals and churches care for personal care home residents left homeless by fire, crews remain at the scene to ensure every hot spot is out.
    2007-08-22 05:47:02

  • Lightning Causes Fire At Somerset Personal Care Home (WTAE-TV Pittsburgh)

    Fire crews said lightning was to blame for a fire at a Somerset County personal care home Tuesday afternoon.
    2007-08-22 04:15:56

  • Cambria County Nursing Home Holds Job Fair (WJAC 6 Johnstown)

    Laurel Crest, the Cambria County-run nursing home, hosted a job fair Wednesday in Ebensburg. The facility is hiring RNs, LPNs, nurses' aides and hospitality aids.
    2007-08-22 06:47:13

  • Woman Killed In Mobile Home Fire In Coalville (KCCI 8 Des Moines)

    A woman is killed in a mobile home fire in Coalville, which is south of Fort Dodge.
    2007-08-23 12:43:26

  • Accredited Home, HSBC Close Offices as Crisis Spreads (Update1) (Bloomberg.com)

    Aug. 22 (Bloomberg) -- The rising cost of credit took its toll on Accredited Home Lenders Holding Co., HSBC Holdings Plc and H&R Block Inc. as the subprime mortgage fallout spreads through the economy.
    2007-08-22 05:59:47

  • Nothing beats doing something right now

    Detroit News - Mortgage: Do nothing If, amid all the turmoil in the credit markets, the bank, hedge ... the hassle of closing accounts or yanking money out of CDs and paying interest ... The only change is that the stock now trades under the symbol DAI instead of DCX ...
    2007-08-23 05:46:00

  • Market Mover

    American Reporter - Keep in mind that some of these bonds took advantage of the "interest-only" mortgage market in recent years; others react "inversely" to market conditions so you could actually own a bond which increases in value as interest rates rise. ...
    2007-08-23 05:11:00

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