Mortgage and Financial News From 2008-5-8 Page 6
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Housing: To Be Continued... - CBS News
(The Politico) House Republicans Wednesday delayed House consideration of two housing measures, including a sweeping packaging designed to stem foreclosures and ease the housing market's woes. Democratic leaders cut off voting around 10 p.m. and ...
2008-05-08 06:54:00 -
House OKs $15B for states to buy, fix foreclosed properties - USA Today
• The situation. A borrower who financed the full cost of a $200,000 house in 2006 can't afford to make payments and has no refinancing options. Because home prices have fallen, the house is now worth $150,000. • The lender. To get the loan off ...
2008-05-08 10:43:00 -
Bank of England needs an injection of speed on interest rates - Daily Telegraph
This rate decision was not a surprise. But I fear it may have been a mistake. After all the last-minute speculation from economists, from traders and from pundits on the possibility of a back-to-back cut in interest rates, the Bank of England, true ...
2008-05-08 08:27:00 -
Fewer jobs may mean interest rate drop - Stuff
A drop of 29,000 in the number of people in work has sparked hopes that mortgage interest rates will start to come down as early as July. The Reserve Bank has pointed to the tight labour market as a key reason why interest rates needed to stay high ...
2008-05-08 10:00:00 -
Effects of credit crisis 'irreversible' - Daily Telegraph
Some economists believed that the outlook for the economy was dire enough to justify a cut in rates, which would have given some relief to the UK’s 11.8 million mortgage holders. However, policymakers at the Bank are believed to have been worried ...
2008-05-08 09:31:00 -
Mortgage rates nearly unchanged in week - United Press International
WASHINGTON, May 8 (UPI) -- Interest rates for 30-year, fixed-rate mortgages declined in the United States in the last week, the Federal Home Loan Mortgage Corp. said Thursday. The average 30-year fixed interest rate averaged 6.05 percent with an ...
2008-05-08 07:22:00 -
New mortgage blow to cash-strapped borrowers - Times Online
The unstoppable rise in mortgage rates continued today despite the Bank of England's decision to keep the base rate on hold, as Alliance & Leicester became the latest lender to dramatically increase the cost of home loans for borrowers. On Friday ...
2008-05-08 07:01:00 -
Subprime In Sheep's Clothing (Forbes)
Alt-A loans were supposed to be almost as good as prime mortgages. Turns out, they're almost as bad as subprime.
2008-05-08 10:22:44 -
Use Auto Refinancing to Ease the Family Budget (Richfield Reaper)
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. It's reported that gas prices could exceed $4 per gallon this summer.
2008-05-08 10:30:12 -
House passes housing aid bill despite veto threat (CNN.com)
WASHINGTON (AP) -- The U.S. House of Representatives on Thursday approved sending $15 billion to states to buy and fix up foreclosed property.
2008-05-08 10:48:55 -
House OKs $15B for states to buy, fix foreclosed properties (USA Today)
The House has approved sending states $15 billion to buy and fix up foreclosed properties. The vote Thursday was 239-188 to approve the bill, which most Republicans opposed. It would provide loans and grants to areas hit hardest by the housing crisis.
2008-05-08 10:59:52 -
Foreclosure rescue approved (The Herald News)
The House on Thursday approved sending $15 billion to states to buy and fix up foreclosed property.
2008-05-08 11:09:48 -
Investors dial back in to R.H. Donnelley stock, sending shares up 29% (Local Tech Wire)
Cary, N.C. — Shares in yellow pages and Web search firm R.H. Donnelley (NYSE: RHD ) soared more than 29 percent in trading Thursday even though the company reported a $1.6 billion loss for the first quarter.
2008-05-08 11:16:11 -
Bush’s Threat Provokes House Skirmish on Housing Bill (NYTimes.com via Yahoo! Finance)
House Republicans threw up repeated roadblocks to delay debate of the legislation, prompting an angry argument between party leaders over procedural tactics.
2008-05-08 11:37:16 -
Vonage Holdings 1Q loss narrows on sales and lower costs (AP via Yahoo! Finance)
Internet communications company Vonage Holdings Corp. said Thursday its first-quarter loss narrowed 88 percent on higher sales and reduced costs.
2008-05-08 11:38:53