Mortgage and Financial News From 2007-9-26
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Exeter Township votes to refinance golf course loan (Reading Eagle)
Berks County, PA - The Exeter Township supervisors have voted 5-0 to refinance a bond and borrow an extra $2.5 million for possible improvements to the Reading Country Club.
2007-09-25 09:15:04 -
Patrons approve bond refinance at Prescott (Picayune-Times)
By more than a two-to-one margin, voters in the Prescott School District approved a measure to allow the district to refinance existing bonds. The goal is to raise money for school repairs and improvements.
2007-09-25 10:45:13 -
More people retiring with mortgage payments
Colorado Springs Gazette - You’re now about to retire, the loan balance is $300,000 and your home is worth $600,000. You could simply refinance ... bought a home two years ago and he got a 30-year mortgage,” said Keith Gumbinger, a vice president at mortgage-information ...
2007-09-24 05:57:00 -
Adjustable-rate mortgages: now it hurts (Newsday)
Come next November, Kathryn Clejan's adjustable rate mortgage will get a whole lot more expensive. In fact, she estimates, it could rise by $1,986 a month, which the single mother of two boys can't afford.
2007-09-25 07:12:51 -
Lenox Financial will make disclosures in ads (East Valley Tribune)
A national mortgage firm known for its extensive radio advertising campaign has agreed to make changes.
2007-09-26 12:04:56 -
ICBA Announces National Community Bank Mortgage Week (PR Newswire via Yahoo! News)
The Independent Community Bankers of America (ICBA) announced that community banks nationwide are participating in ICBA National Community Bank Mortgage Week, Nov. 5-9. Participating community banks will review mortgage documents of current homeowners, discuss financing options with first-time homebuyers who see an opportunity to own their own home, and help current homeowners looking to ...
2007-09-25 01:13:00 -
More people retiring with mortgage payments (Colorado Springs Gazette)
It’s an increasingly common dilemma: You want to retire — but you haven’t yet retired your mortgage. Even before the debt-driven housing boom and bust, the numbers were getting ugly.
2007-09-25 10:22:18 -
Credit Markets Ease as Fed May Cut Rates More
CNBC - Federal Reserve is expected to throw moral hazard concerns to the wind and cut rates again in October. The world's top ... negative impact of weaker economic growth perspectives on credit fundamentals and the persistent uncertainty about mortgage ...
2007-09-26 06:34:00 -
Barratt Developments sparks housing market fears
Times Online - ... after Northern Rock, the UK's fifth largest mortgage lender, revealed earlier this month that the Bank of England had agreed to provide emergency support amid failure in the interbank lending markets. Analysts widely predict that mortgage rates will ...
2007-09-26 02:02:00 -
S. African Inflation Above 6% Target for Fifth Month (Update1)
Bloomberg - ... inflation exceeded the central bank's 3 percent to 6 percent target range for a fifth consecutive month in August, keeping pressure on the central bank to raise interest rates further. The CPIX inflation rate, which excludes mortgage costs ...
2007-09-26 03:07:00 -
Fannie and Freddie's Gambit
American Enterprise Institute - This time mortgage rates fall to, say, 4%, and homeowners quickly begin to refinance at the lower rate. Now Fannie and Freddie are paying 5% to hold mortgages that are paying 4%--another losing position. This does not happen if Fannie and Freddie ...
2007-09-26 06:06:00 -
China yields fall as IPO-related squeeze fades
Reuters UK - State media reported on Wednesday that the government planned to increase mortgage rates to 1.1 times the benchmark one-year lending rate this week, and would raise down payment requirements for purchases of second homes to at least 40 percent of ...
2007-09-25 10:49:00 -
China likely to raise mortgage deposits to curb house price hiking
Xinhua News Agency - With the expansion of mortgage loans, and as the central bank continuously raises interest rates, mortgage loans are beginning to face a high risk of default," China Construction Bank (CCB), the lender with the highest mortgage loans in China ...
2007-09-25 09:09:00 -
China's Stocks Drop Most in Two Weeks: World's Biggest Mover
Bloomberg - Sept. 26 (Bloomberg) -- China's key stock index fell the most in two weeks. China Vanke Co. led developers lower after official media reported that the central bank plans to increase mortgage rates. ``It's going to put a cap on the property market ...
2007-09-26 01:12:00 -
Treasuries Little Changed After Durable Goods Orders Decrease
Bloomberg - Signs of slowing growth in the world's biggest economy may stoke expectations the Federal Reserve will further lower interest rates. Mortgage applications in the U.S. fell 2.8 percent last week. A report tomorrow may say new home sales declined to ...
2007-09-26 05:51:00