Mortgage and Financial News From 2007-12-7 Page 21
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Friday Papers: Bush unveils plans to freeze sub-prime rates -- other ...
Reuters UK - Dow climbs 175 points as President Bush unveils a plan to freeze interest rates on some sub-prime loans. * Dow gains 175 points and Nasdaq rises 43 points * Bank of England cuts base rate by a quarter point to 5.5%, the first cut for over two years ...
2007-12-06 11:01:00 -
Californians fear Bush's plan disqualifies too many people
San Diego Union-Tribune - However, the plan probably won't do much to stem the county's housing slide – in part because of the relatively small number of borrowers locally with adjustable-rate subprime loans that are scheduled to rest at higher interest rates over the next ...
2007-12-06 11:44:00 -
Metals - Gold retreats from 800 usd/oz as dollar firms UPDATE
Forbes - The greenback strengthened against the euro as the DJIA rose 1.3 pct yesterday, with investors hoping that the sub-prime mortgage rescue package, along with an expected interest rate cut next week, will help prevent the US economy from sliding into ...
2007-12-07 02:43:00 -
Bush steps into the sub-prime mess
Los Angeles Times - The president's plan encourages lenders to help sub-prime borrowers who are current on payments but face interest rate increases they can't afford, suggesting three options. One is to refinance their loans. Another is to move the borrowers into a new ...
2007-12-06 11:51:00 -
Interest rates could rise further in new year (Independent Online)
Another interest rate hike might be in the offing early next year, analysts predicted after the SA Reserve Bank raised the repo rate by another 50 basis points on Thursday.
2007-12-07 01:00:55 -
President Announces Five-Year Subprime Interest Rate Freeze (Multi-Housing News)
Washington, D.C. -- President George W. Bush, along with Treasury Secretary Henry Paulson and Housing and Urban Development (HUD) Secretary Alphonso Jackson, unveiled a plan on Thursday afternoon that would allow some homeowners with subprime home loans, scheduled to reset at higher interest rates in the year ahead, to instead freeze those interest rates for five years.
2007-12-06 04:02:55 -
Euro Gains Against Yen, Dollar as ECB Reduces Rate Speculation (Bloomberg.com)
Dec. 6 (Bloomberg) -- The euro advanced against the yen and dollar after European Central Bank President Jean-Claude Trichet reduced speculation of an interest-rate cut.
2007-12-06 01:21:26 -
Hong Kong shares close lower as profit-taking snaps seven-day run ...
Forbes - US President George Bush on Thursday announced a plan allowing some homeowners facing foreclosure to not only freeze their interest rates for up to five years but also refinance their mortgages, which could help about 1.2 million homeowners. 'It ...
2007-12-07 01:10:00 -
Hong Kong shares close lower on profit-taking in properties, banks ...
Forbes - President George W Bush announced that the government will help some 1.2 mln homeowners facing foreclosure to not only freeze their interest rates for up to five years, but also refinance their mortgages. The Hang Seng index closed down 716.45 points ...
2007-12-07 01:24:00 -
London shares open firmer; housebuilders gain on rate cut hopes UPDATE
CNBC - Bush announced a plan allowing some homeowners facing foreclosure to not only freeze their interest rates for up to five years, but also refinance their mortgages. The plan was created by the Treasury Department, mortgage lenders and banks, and could ...
2007-12-07 01:31:00 -
European Bonds Decline After Trichet Signals Inflation Pressure
Bloomberg - Bush announced yesterday an accord to help some borrowers refinance, or freeze interest rates on, adjustable-rate home loans. ``The risk environment doesn't look so threatening this morning after the plan was announced,'' said David ...
2007-12-07 01:39:00 -
Euroshares open higher, lifted by Wall St rally overnight UPDATE
CNN Money - ... helped by measures announced by the Bush administration to stabilise the US housing market. Under the terms of the plan, some homeowners facing foreclosure will be allowed not only to freeze their interest rates for up to five years but also refinance ...
2007-12-07 01:39:00 -
Singapore shares close slightly higher supported by blue-chip gains ...
Forbes - US homeowners facing foreclosure will be allowed to freeze their interest rates up to five years and refinance their mortgages based on the government's plan. 'There are going to be a lot of unanswered questions in terms of the legal applications and ...
2007-12-07 02:00:00 -
Dow Gains 175 Points on Bush's Mortgage Plan
The Ledger - Stocks got an additional boost when President Bush announced a plan allowing some homeowners facing foreclosure to not only freeze their interest rates for up to five years, but also refinance their mortgages. The plan was created by the Treasury ...
2007-12-07 02:50:00 -
Bank of Korea stands pat on rate, tightening depends on inflation
Forbes - Overnight, President Bush announced a plan allowing some homeowners facing foreclosure to not only freeze their interest rates for up to five years, but also refinance their mortgages. The plan was created by the Treasury Department, mortgage lenders ...
2007-12-07 02:50:00