Mortgage and Financial News From 2008-3-15 Page 14
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Bear Stearns hit - Fed, JPMorgan to extend loans
San Francisco Gate - JPMorgan, the nation's third-largest bank, has been hurt far less by the mortgage mess than other financial institutions. It will provide secured loans to Bear for four weeks - insured, in essence, by the Fed.
2008-03-14 11:51:00 -
Overpaid At Any Price?
The Ledger - At the end of the year, one in every 50 of the nation's 46 million mortgage loans were in forclosure. The amount of all loans entering forclosure in the fourth quarter approached 1 percent, according to Mortgage Bankers Association.
2008-03-15 02:50:00 -
State leads U.S. in mortgage delinquencies
Hattiesburg American - Mississippi leads the nation in the number of people who are late making their monthly mortgage payments, a problem that affects the real estate and banking industries, a state economist said. Eleven percent of mortgage loans in Mississippi were ...
2008-03-15 02:50:00 -
Fed takes rare path to aid Bear Stearns (El Paso Times)
WASHINGTON—The Federal Reserve invoked a rarely used Depression-era procedure Friday to bolster troubled Bear Stearns Cos. and said it will provide even more help to combat a serious credit crisis.
2008-03-15 05:21:44 -
Sales, dollar plunge; oil soars (El Paso Times)
WASHINGTON—Oil hit a record high, the dollar sank again, and consumers stopped buying pretty much everything.
2008-03-15 05:30:18 -
Fed and rival bail out Bear Stearns (El Paso Times)
NEW YORK—On the verge of a collapse that could have shaken the very foundations of the U.S. financial system, investment bank Bear Stearns Cos. was bailed out Friday by a rival and the federal government.
2008-03-15 05:31:18 -
ALL BUSINESS: A tale of two real estates (El Paso Times)
NEW YORK—Some on Wall Street are betting that commercial real estate will turn out to be the "next subprime" mortgage mess. Not necessarily. Sure, tightening credit and a slowing economy are leading retailers to close stores.
2008-03-15 05:33:50 -
Lawsuit targets company linked to former Norlarco (The Fort Collins Coloradoan)
FORT MYERS, FLA. —Hovnanian Enterprises Inc. did not receive 10 percent to 25 percent of the purchase price on 1,345 houses in Lee County, Fla., after the buyers were unable or unwilling to close on the deals, company officials said this week.
2008-03-15 05:44:27 -
US in deep recession (Little Speck)
USA Deep recession is here.. And the slump may be the worst since World War II, says economist Goldstein. Boston Globe. Mar 15, 2008 By Todd Wallack The United States has already slipped into a deep recession that could be the most serious since World War II, said Martin Feldstein, president of the Cambridge group that is considered the official word on economic cycles.
2008-03-15 05:47:33 -
Dollar Falls Below 100 Yen, Hits Record Low vs. Euro
CNBC - JPY-TN Loading... ( %) ] its lowest level since 1995 before ... lend dealers $200 billion in Treasury securities and accept a wider array of mortgage ... The Fed has cut rates to 3 percent since September, while euro zone rates have ...
2008-03-13 11:06:00 -
Stadium bonds hit by rocketing interest
Forbes - Auction rate securities have long-term maturities, but are tied to short-term interest rates -- in some cases, reset every seven days. The lowest ... favorable deal that lasted until bond markets started imploding because of the subprime mortgage ...
2008-03-13 06:34:00 -
Asian Stocks Sink on Carlyle Default
CNBC - ... portfolio as of Wednesday were U.S. government agency AAA-rated residential mortgage ... Major banks were battered as well, with Mizuho Financial Group hitting its lowest ... Also hurting sentiment in the banking sector, data showed that jobless rates at ...
2008-03-13 03:21:00 -
Bernanke: A Volcker In Greenspan's Clothing?
Forbes - Its lowest-risk model portfolio, for example, has a year-to-date total return of 17.86%, including a 7% cash ... This would reduce the reset rates adjustable-rate subprime mortgage holders would have to pay.
2008-03-10 05:58:00 -
What the U.S. Can Learn From Japan's 'Lost Decade'
NPR News - Nearly two decades before America's mortgage crisis, Japan weathered a real estate crisis of its own. ... Japan has one of the highest savings rates in the world; the U.S. among the lowest.
2008-03-13 09:26:00 -
Freddie Mac: Mortgage rates rise in latest week
Marketwatch - Average mortgage rates were up for all loan products reported," said Frank Nothaft, Freddie Mac vice president and chief economist ... far this year, the average 30-year fixed rate is still below 5.9%, and the average 30-year rate in January was the lowest ...
2008-03-13 07:10:00