Mortgage and Financial News From 2008-7-24 Page 01
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Cullen warns home rates might not fall - Stuff
The Reserve Bank's interest rate cut would keep mortgage rates "lower than they would otherwise have been" but they may not drop, Finance Minister Michael Cullen has warned. "Given the ongoing effects of the credit crunch, the expectation could well ...
2008-07-24 08:03:00 -
Prepare To Profit from the U.S. $1 Trillion Budget Deficit - Seekingalpha.com
The federal budget deficit hasn’t received a lot of press lately, what with all the worries about the U.S. financial system, the home mortgage market, and the rescues that might be necessary to save both. In fact, it’s a bad sign, since the Bush ...
2008-07-24 10:40:00 -
Indonesia property -- a free, though not liquid, lunch? - Reuters
HONG KONG, July 25 (Reuters) - Where can you get prime land, thousands of homes and some shopping malls virtually for free? Indonesia, it seems. While global investors shirk at anything property-related after the U.S. subprime mortgage meltdown ...
2008-07-24 09:57:00 -
Mortgage giants are crucial to the housing market - Austin American-Statesman
CHICAGO — Behind their down-home names, Fannie Mae and Freddie Mac are so vital to the economy that the government is scrambling to offer them a financial lifeline. But what exactly are they, and what do they do? They are the engines behind a ...
2008-07-24 10:40:00 -
Paulson is a reluctant dragon - Los Angeles Times
WASHINGTON -- Henry Paulson was supposed to bring a fresh dose of Wall Street to Washington. As it turns out, he's doing the very opposite. As Treasury secretary, he has become the Bush administration's point man and chief spokesman on a series of ...
2008-07-24 10:40:00 -
Private-Equity Firms, Funds Take New Look at Ailing Banks - Wall Street Journal
Capital-hungry banks are suddenly attracting new interest from private-equity firms and hedge funds. At least two private-equity firms are considering investments in BankUnited Financial Corp., based in Coral Gables, Fla., which is saddled with a ...
2008-07-24 09:00:00 -
BURSA opening: KL share prices easier in early trade - New Straits Times
The KLCI this morning opened 11.13 points lower at 1,130.46, compared with Thursday’s close of 1,139.41. Dealers said that the Overnight Policy Rates might be expected to be revised after inflation peaked at 7.7 per cent for June, which is twice ...
2008-07-24 08:46:00 -
Economy heads for recession as growth slumps - The Independent
After years of boom, official figures on the economy published today will show that growth has slumped to nearly zero, leaving the nation already in, or close to, recession. The Office for National Statistics figures for growth during the second ...
2008-07-24 05:40:00 -
Interest rates snap at heels of local automotive sector - Engineering News
The South African automotive industry is currently reeling under the effects of high interest rates and inflation, reports Motor Industry Ombudsperson of South Africa (MIOSA) Johan van Vreden . “As part of the global motor industry, South Africa is ...
2008-07-24 10:40:00 -
Global interest rates are lowest in 100 years: Prof D'Souza - New Kerala
Mumbai, July 24: Global interest rates are now the lowest in 100 years and it is in sharp contrast with the situation prevailing in India and a few other emerging countries, according to Prof Errol D'Souza of IIM, Ahmedabad. "High investment needs ...
2008-07-24 08:46:00 -
Euro zone inflation 'higher' without current monetary policy - ECB ... - Forbes
MILAN (Thomson Financial) - European Central Bank (ECB) board member Lorenzo Bini Smaghi said the euro zone would have higher inflation without the central bank's current monetary policy. In an interview with the daily La Stampa, Bini Smaghi said 'an ...
2008-07-22 01:50:00 -
Top US lender suffers $3bn loss - BBC Business
Washington Mutual is a key mortgage lender in the US Leading US mortgage lender Washington Mutual has posted a quarterly loss following a rise in defaults on loans. The firm saw a loss of $3.3bn (£1.6bn) in the three months to June, compared with a ...
2008-07-23 04:12:00 -
Ask the Biz Brain - Newark Star-Ledger
How does a short sale affect one's credit? We are planning to sell our home, but it looks as if our sale price will be $50,000 less than what we owe. -- For sale A short sale occurs when a lender agrees to accept a home sale's proceeds and forgive ...
2008-07-24 09:36:00 -
Treasuries Head for Weekly Advance; New Home Sales May Decline - Bloomberg
July 25 (Bloomberg) -- Treasuries headed for a weekly gain before a government report that economists estimate will show U.S. new-home sales fell to near the lowest since 1991 and as Asian stocks declined. Returns on U.S. government debt for July ...
2008-07-24 10:05:00 -
Edwards, Busted The National Enquirer catches him. - Slate
" Get it first , but first get it second." The old Newsweek rule! I hope that's the rule the MSM is following. If so, here's an MSM mention ! And here . Business Week is what, chopped liver ? And doesn't Jack Shafer count? I fear there is a new rule ...
2008-07-23 05:41:00