Mortgage and Financial News From 2007-9-6 Page 21
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Blacks three times more likely to pay higher mortgage interest, study says (The Plain Dealer)
Black home buyers who received loans last year in the Cleveland area were three times more likely to get high interest rates than white borrowers, an advocacy group found.
2007-09-06 05:43:56 -
Commercial real-estate prices expected to drop
Seattle Times - Commercial mortgage rates have climbed as defaults rose in the subprime part of the residential real-estate market. The increase has halted a rally that lifted prices for office buildings, apartments and hotels to records this year. The average price ...
2007-09-06 12:24:00 -
ECB, BoE hold interest rates steady after global market turbulence ...
MSN UK News - That came a day after it offered to provide extra cash to reduce "unusually high" overnight lending rates in its monthly market operations, reflecting concern about dwindling credit levels spurred by the problems of the U.S. subprime mortgage market ...
2007-09-06 05:18:00 -
Costco misses forecast; shares decline
Seattle Times - Consumers have also cut back on spending due to slumping home prices and higher mortgage rates. Costco cited the effect of lower gasoline prices. The price of a gallon of gasoline at the end of last month was $2.80, 3.4 percent lower than a year ...
2007-09-06 12:24:00 -
Interest rates held
Guardian Unlimited - Normal lending between banks has dried up as a result of the knock-on effects of the mortgage crisis in the US, so tighter credit conditions already exist without the MPC having to push up rates. In fact, the Bank of England yesterday made its first ...
2007-09-06 03:59:00 -
Bankrate And Move Announce Distribution Agreement
MSN MoneyCentral - In addition to Bankrate.com, Bankrate also owns and operates Bankrate Select, an Internet lead aggregator and Mortgage Market Information Services, Inc. and Interest.com, Inc., each of which publishes mortgage guides and financial rates and ...
2007-09-06 06:01:00 -
Hong Kong banks pinched as funding costs rise
Marketwatch - From our discussions with senior local bank managers, we sense that the banks are in pain, and the longest they can wait is until the next Fed meeting," Tao said. "Even if the Fed cuts rates, local mortgage rates may still rise if HIBOR remains ...
2007-09-06 05:32:00 -
ECB keeps rates on hold
CNN - ... reflecting concern about dwindling credit levels spurred by the problems of the U.S. subprime mortgage market. The bank said it had raised its aggregate reserves target for the next month by 6 percent to relieve pressure on overnight rates and was ...
2007-09-06 04:49:00 -
ECB, BoE Hold Interest Rates Steady
Newsday - Most analysts had believed until recently that the bank would lift interest rates to 4.25 percent, but that changed following the past month's market turbulence -- a result of the U.S. subprime mortgage crisis. * __ On the Net: http://www.ecb ...
2007-09-06 05:46:00 -
Bank of England holds interest rates steady at 5.75 percent
MSN UK News - The Bank of England held official interest rates steady at 5.75 percent, as widely anticipated, on Thursday. The decision to keep rates unchanged follows jitters in global markets where fears over banks' exposure to the US subprime mortgage markets ...
2007-09-06 03:59:00 -
Bank of England holds rates at 5.75 per cent
Times Online - Since the Inflation Report, lending in the banking system has become infected with fears over the fall out of the US sub-prime mortgage crisis. Banks have refused to lend to one another, causing overnight interest rates and benchmark three-month ...
2007-09-06 03:59:00 -
Homeowners still heading for rate shock
Reuters UK - LONDON (Reuters) - Interest rates have been kept on hold but mortgage lenders are warning thousands of borrowers to prepare for a rate shock. The Bank of England kept the base rate at 5.75 percent for the second month running, after a global credit ...
2007-09-06 05:11:00 -
Australia's Biggest Banks Make $8.2 Billion Debt Fund Bailout
Bloomberg - ANZ said on Aug. 30 margins have narrowed as much as 25 basis points, which may ``put upward pressure on mortgage rates.'' Westpac, Australia's fourth-biggest bank, has A$6 billion of asset-backed commercial paper in one conduit, according ...
2007-09-06 01:22:00 -
Credit Flu May Delay Housing Recovery
Wall Street Journal - The Fed's "beige book," released yesterday, said the timing of a housing rebound has grown more uncertain due to stricter lending standards and higher mortgage rates. A separate report on pending home sales indicated further declines for the housing ...
2007-09-06 05:54:00 -
Interest rates are frozen
Guardian Unlimited - Homeowners have endured five hikes in interest rates since August last year, adding around £80 to a £100,000 mortgage. But despite the recent uncertainty, economists said rates could still reach 6% by the end of the year. Retailers said the Bank had ...
2007-09-06 04:42:00