Mortgage and Financial News From 2008-3-6 Page 21
Previous Day: 2008-03-05
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Thursday's company news summary (Investors Chronicle)
• Furniture retailer Galiform saw profits surge 39.5% over the year and said trading has started satisfactorily in the first part of 2008. • A joint venture that includes contractor Balfour Beatty has secured a £445m deal from Glasgow City Council to complete the M74 motorway in Scotland.
2008-03-06 01:56:28 -
Banks prepare to act on rate rise
News.com.au - Treasurer Wayne Swan warned banks that customers would vote with their feet if financial institutions raised mortgage rates higher than the quarter of a percentage point.
2008-03-03 09:31:00 -
RBA increase rates to 7.25pc
The Australian - THE Reserve Bank has raised interest rates to a 12-year high of 7.25 per cent amid signs the economy could finally start to slow. The decision was announced by central bank governor Glenn Stevens and the 25 basis point increase will take mortgage ...
2008-03-03 07:36:00 -
Real estate upbeat despite national slump
Brazoria Facts - The Federal Reserve has cut its federal funds rate by 2.25 percent since September, but it has yet to affect mortgage rates, Gaines said. --- Differing markets
2008-03-05 08:39:00 -
Don't panic over new loans, mortgage holders told
Guardian Unlimited - They face paying higher rates as mortgage lenders are tightening their criteria and some are stepping back from the market because of difficulties raising finance in the money markets.
2008-03-04 12:44:00 -
Credit crunch hits buy-to-let sector
Reuters UK - Mortgage hunters are facing increasingly tough times as the market shrinks and lenders re-assess risk in the wake of the credit crunch. Cheap products have been pulled and rates on remaining ones hiked, maximum loan-to-values cut and lending criteria ...
2008-03-05 11:37:00 -
Critics Debate New Mortgage Aid
Washington Post - The program, which is being run by a Treasury-brokered alliance of lenders and nonprofit groups that calls itself Hope Now, offers loan modifications to subprime mortgage holders whose interest rates have jumped in the past year, granting them a five ...
2008-03-03 09:31:00 -
Some Borrowers Hit New Snag In Refinancing
Wall Street Journal - But some homeowners who want to lower their rates or lock in a fixed-rate mortgage can't, even if refinancing would save them money and put them in a better position to repay their loans.
2008-03-05 07:13:00 -
More pain for home buyers
News.com.au - AUSTRALIAN home buyers look set for more mortgage pain as banks in the grip of a global credit squeeze prepare to "double dip" on interest rates. As an oil major came under fire for predicting petrol prices will soar over $3 a litre, Treasurer Wayne ...
2008-03-04 03:53:00 -
Affordability crisis 'set to worsen'
News.com.au - The dismal outlook follows the release today of soft building activity figures and a decision by the country's biggest business lender, National Australia Bank to raise variable mortgage interest rates above the central bank's increase.
2008-03-05 11:09:00 -
RBA may be ready to pause
News.com.au - The interest rate rise was the 12th consecutive increase since the cycle began in 2002 and will prompt the retail banks to lift variable mortgage rates above 9 per cent -- the highest in 12 years.
2008-03-05 03:52:00 -
Higher Revenue Narrows H&R Block 3Q Loss
Forbes - The subprime mortgage subsidiary collapsed last year as higher interest rates and falling home prices led many borrowers with poor credit to default on their loans.
2008-03-05 11:37:00 -
More pricy home loans - VMBS rates hit 13.99%
Jamaica Gleaner - Victoria Mutual Building Society's (VMBS) new mortgage rate structure took effect Saturday, but the repricings affect new loans only. The society's rates are now set at 13.5 per cent to 13.99 per cent on new mortgages. The increase was announced mid ...
2008-03-05 08:10:00 -
Reserve Bank lifts rates by .25 percent
News.com.au - HOMEBUYERS will have to find an extra $50 a month for the average mortgage after the Reserve Bank of Australia raised interest rates today. The RBA lifted its key interest cash rate by a quarter of a percentage point at its meeting this afternoon in ...
2008-03-03 07:44:00 -
Mortgage applications up slightly
CNN Money - Mortgage volume posted slight gains as fixed-rate mortgage interest rates tumbled. The average rate for traditional, 30-year fixed-rate mortgages fell to 5.98% from 6.27%
2008-03-04 03:53:00