Mortgage and Financial News From 2007-9-18 Page 7

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  • Lehman Beats Estimates, Limits Losses on Mortgages (Update6) (Bloomberg.com)

    Sept. 18 (Bloomberg) -- Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, reported a smaller profit decline than analysts estimated after it limited losses on home loans and leveraged-buyout financing.
    2007-09-18 02:19:47

  • Commerzbank Says Subprime Loss Will Be EU80 Million (Update1) (Bloomberg.com)

    Sept. 18 (Bloomberg) -- Commerzbank AG, Germany's second- biggest lender by assets, forecast losses related to U.S. subprime mortgages of 80 million euros ($111 million) this year, refuting a report by Reuters.
    2007-09-18 05:07:34

  • (AFX UK Focus) 2007-09-18 22:00 GMT: Spotlight on UK mortgages (Interactive Investor)

    (AP) - MARKET SIZE: The United Kingdom has the largest mortgage market in the European Union, with 11.7 million mortgages worth $2.2 trillion, according to the U.K.'s Council of Mortgage Lenders. The U.S. mortgage market dwarfs it, with $13.55 trillion in outstanding mortgage debt, according to the Federal Reserve
    2007-09-18 02:08:21

  • Spotlight on UK mortgages (Boston Globe)

    MARKET SIZE: The United Kingdom has the largest mortgage market in the European Union, with 11.7 million mortgages worth $2.2 trillion, according to the U.K.'s Council of Mortgage Lenders. The U.S. mortgage market dwarfs it, with $13.55 trillion in outstanding mortgage debt, according to the Federal Reserve
    2007-09-18 02:24:50

  • Spotlight on UK Mortgages (AP via Yahoo! Finance)

    MARKET SIZE: The United Kingdom has the largest mortgage market in the European Union, with 11.7 million mortgages worth $2.2 trillion, according to the U.K.'s Council of Mortgage Lenders.
    2007-09-18 01:44:55

  • AP Business NewsBrief at 7:40 p.m. EDT

    CNBC - Market Soars As Fed Cuts Interest Rate news://newsclip.ap.org/D8RO64JO0@news.ap.org ... Chief executives of some of the nation's largest housing and mortgage lending ... Steve Jobs said the iPhone will go on sale in Britain Nov. 9 and operate only ...
    2007-09-18 04:38:00

  • Fed slashes interest rates to stop recession

    Daily Telegraph - The US Federal Reserve has shocked the markets by slashing its key interest rate by ... comes after a summer of turmoil in which the crisis in the sub-prime mortgage market ... The Fed also made its decision only too aware of the state of the world's ...
    2007-09-18 12:20:00

  • There May Yet Be Value In Mortgage Securities

    Wall Street Journal - ... Co., the big bond-oriented money-management firm, has launched a distressed-mortgage ... True, there were plenty of excesses in lending practices, many only now coming ... Amidst all the talk of congressional bailouts and interest-rate cuts, let's not ...
    2007-09-18 03:48:00

  • House OKs plan to stem mortgage concerns

    Tacoma News Tribune - House OKs plan to stem mortgage concerns By MARCY GORDON The House on Tuesday approved a plan to expand federal backing of ... Wall Street has been betting on an interest-rate cut by the Federal Reserve - it announced its first in more than four years ...
    2007-09-18 12:06:00

  • Stocks soar after Fed's bigger-than-expected half-point cut in ...

    San Diego Union-Tribune - ... Street barreled higher Tuesday after the Federal Reserve cut its benchmark interest ... August amid fears that credit market tightness, spawned by a continuum of mortgage ... The blue-chip index is now only about 1.9 percent below its record close of 14 ...
    2007-09-18 01:39:00

  • Federal Reserve cuts interest rates

    Daily Telegraph - As a result it is thought that British mortgage interest rates — which recently hit a nine-year high — could start to fall. ... Northern Rock said the panic was easing, with only four of its 76 branches reporting queues. However, economists warned ...
    2007-09-18 04:16:00

  • Fed Cuts Key Interest Rate After Weeks of Turmoil

    Washington Post - The Federal Reserve cut a key interest rate yesterday in an aggressive attempt to ... consumers and businesses, making it cheaper to take out a car loan or home mortgage ... Wall Street had expected a smaller rate cut of only a quarter percentage point ...
    2007-09-18 04:24:00

  • Retiring With a Mortgage? Here's What You Should Do

    Wall Street Journal - Sure, your mortgage may be costing you just 6% and the interest might be tax-deductible. But your money-market fund is likely yielding only 5% -- and you have to pay tax on that income. Things get trickier when dealing with individual retirement ...
    2007-09-18 03:48:00

  • Shares of mortgage lenders mixed on Federal Reserve interest rate cut

    CNBC - Miller Jr. wrote in a research report last week cutting interest rates would offer only temporary relief to mortgage lenders. Shares of Countrywide Financial Corp. rose 15 cents to $19.42. Shares of IndyMac Bancorp rose 42 cents to $22.95. Shares of ...
    2007-09-18 11:30:00

  • Joffrey Long: Fed Lowering Will Benefit Reverse Mortgage Borrowers ...

    Forbes - A 68 year old homeowner obtaining a reverse mortgage at an interest rate of 5.15% would be entitled to $221,113, while the same homeowner would only receive $206,562 at an interest rate of 5.65%. A whopping $14,551! Although the Fed lowering doesn ...
    2007-09-18 05:42:00

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