Mortgage and Financial News From 2008-3-11
Previous Day: 2008-03-10
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Livonia's State of the City to address Quicken Loan departure
Detroit Free Press - As homeowners across the state fret over looming foreclosures, Livonia has its own mortgage woes: Quicken Loans, the city's second-largest employer, is moving to Detroit in the next few years. That departure is expected to be among the topics Mayor ...
2008-03-11 12:17:00 -
Another bank, another $500m debt
News.com.au - WESTPAC Banking Corporation has an exposure of more than $500 million to a Sydney-based mortgage securitisation company known as Calibre Financial Services. Calibre, a wholesale funder of home loans marketed through financial planners and brokers, is ...
2008-03-10 10:44:00 -
Investment banking stocks sink to multiyear low (The Plain Dealer)
New York- Investment banks' stocks plunged to their cheapest prices in years Monday, as the unraveling of a host of investments raised the prospect of more losses on Wall Street and a seize-up in financing.
2008-03-11 01:48:24 -
Treasuries Fall; Federal Reserve May Take Steps to Boost Growth (Bloomberg.com)
March 11 (Bloomberg) -- Treasuries fell as Asian stocks rallied on speculation the Federal Reserve will introduce new measures to spur lending and avoid a recession.
2008-03-11 01:55:48 -
Notable movers (San Jose Mercury News)
Citigroup © was down $1.22, or 5.8 percent, to $19.69. The biggest U.S. bank by assets had its estimated earnings trimmed to $2.
2008-03-11 02:04:36 -
RSS feed (San Jose Mercury News)
You work at Oracle? Hey, me too! Docudrama, Monday March 10. Posted by Chris O'Brien: We all know that Oracle has been buying everything with a pulse the last few years.
2008-03-11 02:06:36 -
Trend in Brown County foreclosures shows increase from 07 (Green Bay Press-Gazette)
MADISON Foreclosures in Brown County are on track to increase by about 30 percent based on the number of foreclosure sales at this same time in 2006 and 2007.
2008-03-11 02:13:20 -
More banks go for big rate increases (Queanbeyan Age)
More homebuyers and businesses face greater pain after two major banks followed the Commonwealth Bank in adopting a 0.35-percentage-point hike in their lending rates.
2008-03-11 02:17:29 -
Economy weighs on stocks
CNN Money - ... fears and increased speculation that the Federal Reserve could cut interest rates ... Mortgage lenders in focus. Fannie Mae ( FNM ) tumbled 8% after Barron's suggested the ... In currency trading, the dollar dived to its lowest level versus the yen in three ...
2008-03-10 09:01:00 -
U.K. Producer Prices Match Fastest Gain Since 1991 (Update3)
Bloomberg - ... chances the Bank of England will cut interest rates ... is holding up in the face of the U.S. subprime mortgage slump. Industrial output in Germany and France exceeded economists' forecasts in January and German unemployment fell last month to the lowest ...
2008-03-10 04:50:00 -
Which bank is 'gouging' borrowers on home loans?
News.com.au - CBA, the country's largest home lender, is the third big bank to boost mortgage rates by more ... CBA's mortgage rate rise came as the benchmark S&P/ASX 200 index hit its lowest level in 17 months on fears the recession in the US will be worse than ...
2008-03-10 06:52:00 -
U.S. Stock Futures Are Little Changed; Countrywide Shares Drop
Bloomberg - The mortgage lender is under investigation by the Federal Bureau of Investigation for ... The S&P 500 last week fell to the lowest since 2006 after record home foreclosures ... Traders are betting the U.S. central bank will lower interest rates by at least 75 ...
2008-03-10 04:00:00 -
Commonwealth Bank hikes interest rates 35 basis points
News.com.au - Commonwealth Bank hikes interest rates 35 basis points ... week Westpac customers will be hit with a 9.27 per cent standard variable mortgage ... AUSTRALIAN shares are at their lowest since October 2008 - but the big banks are ...
2008-03-10 01:37:00 -
US stocks look for reprieve
Financial Times - ... some of last week’s heavy selling which sent equities scuttling to their lowest ... the likelihood that the Federal Reserve will be forced to cut interest rates again ... with lenders after some of them liquidated about a quarter of its $21bn in mortgage ...
2008-03-10 05:48:00 -
Recession fears wipe $22b off market
News.com.au - ... of stocks on the Australian share market yesterday, which closed at its lowest ... Woes: Australia 'on verge of recession' Interest rates: NAB warns of more rate ... gap on Sydney 7. Banks face "systematic margin call" 8. Name to blame over mortgage ...
2008-03-10 06:38:00