Mortgage and Financial News From 2007-12-20 Page 01

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  • Wall Street: crimes or misdemeanors?

    Denver Post - The president and his Treasury Secretary, Henry Paulson, late of Goldman Sachs, have proposed interest rate manipulations that will save billions for investors in sub-prime mortgages. Andrew Cuomo, the New York Attorney General and former Secretary ...
    2007-12-20 09:59:00

  • Five banks pool $125m to help home borrowers

    Union Leader - We believe some of these sub-prime borrowers could qualify for prime products," said Thomas Lavelle, a spokesman for the Federal Reserve Bank of Boston. The going annual interest rate in New Hampshire for a 30-year mortgage is about 6 percent. That's ...
    2007-12-20 08:57:00

  • A subprime sequel? Recent Fed moves may well explain the perception ...

    Economic Times - There’s been an explosion of bewildering financial instruments — currency swaps, interest-rate swaps and other “derivatives” — used for hedging and speculative trading. Until recently, the transformation seemed a splendid success ...
    2007-12-20 08:43:00

  • UPDATE 1-Boston Fed, banks in $125 mln subprime aid plan

    Forbes - BOSTON (Reuters) - The Boston Federal Reserve Bank and five U.S. banks unveiled details Thursday of a $125 million program to help New England homeowners refinance into fixed-interest-rate home loans if they are facing increases in monthly mortgage ...
    2007-12-20 11:32:00

  • Japan's economy slows but rate is unchanged

    Daily Telegraph - ... and suggest the central bank is still a way from raising interest rates, which are the lowest among the Group of Seven industrialised nations. The policy board's decision to keep the rate steady was widely expected as the effects of the US sub-prime ...
    2007-12-20 05:37:00

  • UPDATE 1-Paulson-Housing in "unprecedented situation"-LA Times

    Reuters - ... that are due to reset to higher interest rates over coming months, Paulson said his plan could keep 1.2 million out of foreclosure -- 600,000 fast-tracked into modifications and another 600,000 who will get refinanced or an interest rate freeze. ...
    2007-12-20 02:09:00

  • Philippine shares close higher on domestic rate cut, window dressing ...

    Forbes - ... gains in select blue chips, after the central bank trimmed its key interest rates by 25 basis points in a move intended to slow the peso's rise against the US dollar. ... SM Prime Holdings Inc, the country's largest mall operator, advanced 50 ...
    2007-12-20 09:11:00

  • Prime Minister Harper Interview (Newstalk 1010 CFRB)

    There can be no doubt that Prime Minister Stephen Harper has had a challenging year, although his challenges have come from sources most political observers were not talking about twelve months ago.
    2007-12-20 02:04:14

  • Philippine shares close higher on domestic rate cut, window dressing -UPDATE (Sharewatch)

    MANILA (Thomson Financial) - Philippine shares closed higher Friday, led by gains in select blue chips, after the central bank trimmed its key interest rates by 25 basis points in a move intended to slow the peso's rise against the US dollar.
    2007-12-20 09:01:24

  • Japan's economy slows but rate is unchanged (Daily Telegraph)

    Japan's economy is slowing due to weakness in housing investment and cautious corporate sentiment, the central bank governor said, hours after the bank left its benchmark interest rate unchanged at 0.5pc.
    2007-12-20 05:00:29

  • Will further interest rate cuts boost the housing market next year? (Times Online)

    Two years ago, it all seemed so straightforward. The Bank of England had raised interest rates five times and the housing market was feeling the pinch.
    2007-12-20 01:15:18

  • Rate freeze not the key, Paulson says (Los Angeles Times)

    In an interview, the Treasury chief defines sub-prime plan's goal as avoiding foreclosures and chaos in the market. Treasury Secretary Henry M. Paulson Jr. on Wednesday downplayed the mortgage-rate-freeze element of the Bush administration's program to help the sinking housing market, saying it wasn't the principal focus of the plan -- despite the raised hopes of some struggling homeowners. ...
    2007-12-20 10:58:38

  • ICBC, ABS, Sinopec, Ayala Land: Asia Ex-Japan Equity Preview

    Bloomberg - The second-largest Philippine TV and radio network operator by market value said it borrowed 1.4 billion pesos ($33 million) from BDO Unibank Inc. (BDO PM) to refinance loans. ABS-CBN was unchanged at 32.50 pesos. BDO Unibank, the No.2 lender by ...
    2007-12-20 01:40:00

  • Bush Signs Bill to Aid Ailing Homeowners

    Forbes - Steep prepayment penalties have made it difficult for some to get out of their mortgages, and some overstretched homeowners can't afford to refinance or sell their homes. Copyright 2007 Associated Press. All rights reserved. This material may not be ...
    2007-12-20 02:16:00

  • New year grief for air passengers

    Guardian Unlimited - We acknowledge that there is a lot of seasonal travel, which the union hopes will not be disrupted," the union said. BAA, which cut its final salary scheme against the backdrop of attempts to refinance a £9.3bn debt burden, declined to comment. ...
    2007-12-20 03:35:00

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