Mortgage and Financial News From 2007-10-18 Page 15

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  • U.S. credit crunch hits Ottawa firm

    Ottawa Citizen - Bank of America shares fell three per cent in pre-market trading in the U.S. In a sign that troubles caused by bad mortgage loans spreading into the broader credit market are far from over, the bank increased the provisions for future credit losses ...
    2007-10-18 06:15:00

  • Bank of America plunges as credit crisis bites

    Times Online - ... in traditional pricing relationships, which made hedges ineffective, and the widening of credit spreads" and the Bank made a $527 million loss on mortgage ... The bank's bad debt provision almost doubled from $1.17 billion in the third quarter last year ...
    2007-10-18 07:20:00

  • Wall Streets heads to lower opening after BofA posts disappointing ...

    CNBC - NEW YORK - Wall Street headed toward a lower open Thursday after Bank of America Corp. missed analysts' earnings expectations and provided investors with further evidence of how the mortgage and credit crisis has affected the economy. BofA ...
    2007-10-18 06:08:00

  • Treasurys vault higher as weak economic data prompt talk of new ...

    CNBC - The latest bad signal for the economy was the Labor Department's Thursday report that initial jobless benefits claims in ... signs included a dramatic plunge in building starts and a Standard & Poor's downgrade of more than 1,700 classes of mortgage ...
    2007-10-18 06:58:00

  • Treasuries Rise on Evidence Credit Losses Threatening Economy (Bloomberg.com)

    Oct. 18 (Bloomberg) -- Treasuries rose, pushing two-year note yields toward their biggest weekly drop since September 2005, as concern increased that credit market losses are threatening the broader economy.
    2007-10-18 07:25:59

  • Mortgage Lending Dives Again! (Fool.co.uk via Yahoo! UK & Ireland Finance)

    The latest figures show that mortgage borrowing has fallen for three months in a row. This could mean more bad news for house prices.
    2007-10-18 08:33:48

  • Subprime mortgages pulled amid credit fears (FT.com via Yahoo! News)

    The global liquidity crisis has prompted banks and building societies to rein back product ranges offered to mortgage customers and borrowers with patchy credit histories, a study has found.
    2007-10-17 09:25:23

  • Bernanke Says Housing to Remain `Drag' on U.S. Growth (Update3)

    Bloomberg - He also said that the FOMC ``was prepared to reverse the policy easing if inflation pressures proved stronger than expected ... Since the September cut, the gap in interest rates between jumbo mortgages of more than $417,000 and loans of that amount or ...
    2007-10-15 04:49:00

  • Related, Vizcayans in condo mediation

    South Florida Business Journal - The Vizcayans filed three lawsuits during the summer to reverse the city's approval of the Grove Bay Residences project. The approved project is a joint venture of Miami-based Related Group and Boca Raton-based Ocean Land Investments. Related ...
    2007-10-16 01:41:00

  • Bernanke Spots Relief in Markets

    Wall Street Journal - The Fed chairman reiterated that officials were "prepared to reverse the policy easing if inflation pressures proved ... Still, he said, investors who made those risky bets in housing, through investments tied to mortgages for people with weaker ...
    2007-10-15 05:53:00

  • Our Towns: South and East

    Everett Herald - Advantages of reverse mortgages are also planned to be discussed. Andrea Misiano of Consumer Counseling Northwest is planning to lead the workshop. For more information, call the library at 425-778-2148. Mill Creek: Ceramics workshops for kids Children ...
    2007-10-17 11:56:00

  • Our Towns: South and East (Everett Herald)

    The hiring of a new economic development director in Edmonds is being put on hold because the city's top candidate accepted a job in Mukilteo.
    2007-10-18 05:49:20

  • Free financial seminar planned (Montgomery Advertiser)

    The Alabama Cooperative Extension System, along with the AARP and the Alabama Securities Exchange Commission, will share their expertise about topics including retirement, pension issues, investment fraud and reverse mortgages at a half-day seminar from 9 a.m. to 1 p.m. Wednesday.
    2007-10-18 02:20:27

  • Family debt soars

    News.com.au - Victoria was second behind WA, with 51 per cent of families saving. ING spokesman Michael Smolders said it was a tough ask for families to put aside money. "Higher interest rates, bigger mortgages, record levels of credit card debt, larger grocery ...
    2007-10-18 07:41:00

  • Polish Bank Millennium Q3 net profit jumps 76.5 pct, beats forecasts ...

    CNBC - Earnings at Poland's ninth largest lender were a touch lower than a record 128 mln in the second quarter, which the bank said was due to slowdown in sales of new mortgages and weaker inflows to mutual funds. Millennium also booked a 30 mln zloty from ...
    2007-10-18 12:32:00

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