Mortgage and Financial News From 2008-3-18 Page 4
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Canada's Annual Inflation Rate Falls to Six-Month Low (Update3)
Bloomberg - ... rate 50 basis points to 3.5 percent and economists say the bank will cut 75 basis points more by the end of the second ... higher last month than in February 2007, compared with a 21 percent gain in January, and the cost of interest on mortgages ...
2008-03-18 09:49:00 -
AP Business NewsBrief at 12:05 p.m. EDT
CNBC - Goldman posted net losses on residential mortgages and securities of $1 billion, credit products produced another $1 billion ... TOKYO (AP) _ Japan's largest opposition party decided Tuesday to reject the government's second nomination of a former ...
2008-03-18 09:06:00 -
A Red Flag for Bank Liquidity
MSN MoneyCentral - ... funds, its exposure to the toxic securities backed by subprime mortgages, such as collateralized debt obligations [CDOs], has hardly been unique. Citigroup wrote down a total of $24.5 billion of the asset value in its portfolios during the second ...
2008-03-18 07:54:00 -
Bleak Forecasts for Ford and GM
BusinessWeek - The same rate is projected for the second half, but some analysts say sales could slip further for the year even after tax ... GMAC's mortgage unit, Residential Capital, alone lost $4.3 billion as high-risk borrowers defaulted on mortgages, a trend that ...
2008-03-18 10:53:00 -
Fed Cuts Rates by 3/4 Percentage Point
San Francisco Gate - It marked the second back-to-back cuts of three-fourths of a percentage point. ... banks might fail as a result of multibillon-dollar losses that began last year with rising defaults on subprime mortgages ...
2008-03-18 12:05:00 -
Canadian Stocks Rise on Rate Outlook, Oil; TD Bank, Suncor Gain
Bloomberg - Toronto-Dominion, Canada's second-biggest lender by assets, gained C$1.38, or 2.3 percent, to C$61.65. Royal Bank of Canada ... percent after dropping 41 percent in a year on commodity trading losses and writedowns of investments tied to U.S. mortgages.
2008-03-18 10:25:00 -
Fed cuts key interest rate to grease markets
Chicago Tribune - It marked the second back-to-back cuts of three-fourths of a percentage point. ... of the credit crunch caused by the emergence of deepening troubles in the complex debt instruments based on subprime mortgages
2008-03-18 11:36:00 -
Fed cuts key funds rate by three quarters of a point to 2.25 pct ...
Forbes - It is the second such move in just under two months. The Fed's policymaking Federal Open Market Committee (FOMC) lowered the ... The Fed's string of rate cuts has substantially reduced the size of the interest rate resets on many adjustable rate mortgages
2008-03-18 01:02:00 -
What will steady shaky financial system?
Christian Science Monitor - Second: Prevent chaos from engulfing the financial system while that housing adjustment is taking place. ... In the current crisis, those investments include packages of debt that include subprime mortgages.
2008-03-18 12:41:00 -
UPDATE: Lehman Stock Soars On Upbeat Liquidity Comments
CNN Money - Updates throughout, including with comment from CFO on commercial mortgages and continuing investment banking slowdown. ... Lehman's backlog of investment banking deals fell in the first quarter, and things haven't improved since the second ...
2008-03-18 11:00:00 -
Rivals Watch Bond Insurer Fights As Dinallo Keeps Hands Off
CNN Money - Security Capital Assurance (SCA) last week became the second bond insurer to say it will try to cut losses on guarantees it ... at least one of the three major ratings agencies in recent months due to their exposure to CDOs containing subprime mortgages.
2008-03-18 01:02:00 -
We are all bailout artists now
Seattle Post Intelligencer - Without policy changes, several million households will default on their mortgages over the next few years. ... First, no bailout for the true greedheads: the speculators, the flippers, the people who bought second homes they couldn't ...
2008-03-18 11:15:00 -
Wachovia named Freddie Mac multifamily underwriter
Reuters - ... on Tuesday said it named a Wachovia Corp. (WB.N: Quote , Profile , Research ) unit as the second "fully delegated" underwriter ... in the program get faster processing and flexibility in exchange for sharing risk when underwriting multifamily mortgages ...
2008-03-18 11:15:00 -
Canadian Stocks Rise on Fed Rate Cut, Oil; TD Bank Advances (Bloomberg.com)
March 18 (Bloomberg) -- Canadian stocks rose for the first time in three days, led by Toronto-Dominion Bank , on expectations that lower U.S. borrowing will boost economic growth and help avert bank failures after the near-collapse of Bear Stearns Cos.
2008-03-18 12:17:26 -
Fed Cuts Interest Rate By 3/4 Point (CBS News)
The Federal Reserve has cut a key interest rate by three-fourths of a percentage point. The market had rallied with the prospect of the interest rate cut and a rebounding of oil prices drawing buyers back to the futures market.
2008-03-18 12:33:23