Mortgage and Financial News From 2007-11-13 Page 6

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  • Jeremy Warner's Outlook: Limited options for Mervyn King on rates

    The Independent - If the rate of inflation is higher than target, even if only a tiny bit so, it plainly makes it more difficult for the Bank of England to cut interest rates. ... why plans in the US for a super-SIV that would buy up distress sales of mortgage ...
    2007-11-13 04:05:00
  • Transatlantic battle over bonuses

    MSNBC - A combination of the US mortgage-linked asset write-offs, the credit crunch and the ... However, trading in interest rate products has been much stronger in Europe than the ... year will see a modest increase of between 5 and 15 per cent, but this will only ...
    2007-11-13 12:51:00
  • Australian dollar opens firmer, above 89 US cents

    News.com.au - ... 89 US cents, as risk appetite recovered and carry traders returned to high interest ... in risk sentiment was tenuous, following renewed worries last week about US mortgage ... Ms Hampton said the currency would be likely to rally above this level only if ...
    2007-11-13 01:20:00
  • Fear over sub-prime mortgage debt is ‘beyond lunacy’ says leading ...

    Herald - The total amount of sub-prime mortgage debt "all over the planet" was only $1trillion (£500bn), equivalent to a 5% correction in the Dow Jones ... would recover, because central bankers elsewhere would follow the US in cutting their own interest rates.
    2007-11-13 04:47:00
  • Holiday Sales, Sure -- But Don't Expect Steals

    Wall Street Journal - The economy is weakening, crude oil is near all-time highs and subprime mortgage ... 2000, retailers loaded shelves in anticipation of a strong selling season only ... But after several years of retail mergers and low interest rates, most large chains ...
    2007-11-13 06:49:00
  • Taxpayer may lose £2bn in bank rescue

    Guardian Unlimited - ... bidders for Northern Rock are pressing the government to waive a £2bn interest bill ... Mervyn King, the Bank's governor, agreed to rescue the stricken mortgage lender ... create if reckless lending by banks was bailed out using taxpayers' money, only ...
    2007-11-13 06:06:00
  • Persistent Housing Slump Hits Home Depot

    Chicago Tribune - Analysts with Thomson Financial were predicting 2007 earnings per share of only $2.35. "People thought it was going to be ... market will continue, as reflected in the current overhang of housing inventory and the difficulties in the subprime mortgage ...
    2007-11-13 11:04:00
  • MFA Mortgage Investments, Inc. Announces Over-Allotment Exercise of 2.25 Million Shares (PR Newswire via Yahoo! Finance)

    MFA Mortgage Investments, Inc. announced today that on November 12, 2007 the underwriters participating in its public offering of 15.0 million shares of common stock, which priced on November 7, 2007, exercised in full the over-allotment option for an additional 2.25 million shares of common stock that MFA granted to them in connection with the offering.
    2007-11-13 01:35:00
  • Stocks Come Roaring Back

    BusinessWeek - ... getting an early lift from positive earnings reports from Wal-Mart ( WMT ) and Home ... 46%, to 13,307.09, its largest gain since Sept. 18 when the Fed cut interest rates ... between Goldman and other big banks: it remains net short the U.S. mortgage market. ...
    2007-11-13 03:14:00
  • U.K. Inflation Rate Increases to a Four-Month High (Update3)

    Bloomberg - ... rose above the Bank of England's 2 percent target to a four-month high in October, a sign higher interest rates have yet to ... The Bank of England is trying to gauge the damage to economic growth from the U.S. subprime mortgage slump. ...
    2007-11-13 02:50:00
  • Fitch Ratings says declining home prices, risky products cause of ...

    CNBC - Fitch Ratings says declining home prices, risky products cause of mortgage delinquencies ... Those mortgages have gone delinquent at much higher rates than subprime mortgages originated in areas ...
    2007-11-13 11:40:00
  • Citigroup's Forese Combines Debt, Stock Underwriting (Update2)

    Bloomberg - Prince was forced out last week, when the bank announced $8 billion to $11 billion of fourth-quarter writedowns on mortgage ... today's memo, Paco Ybarra will oversee the fixed-income trading department, which includes corporate bonds, interest rates ...
    2007-11-13 07:43:00
  • U.S. Foreclosures to Cut Home Values by $223 Billion (Update2)

    Bloomberg - Nov. 13 (Bloomberg) -- Subprime mortgage foreclosures will cut U.S. home values by $223 billion in surrounding areas, the Center for ... Nevada, California and Florida had the highest foreclosure rates, the research company said. To ...
    2007-11-13 12:58:00
  • U.S. pending home sales rise,but outlook uncertain

    Guardian Unlimited - ... in the housing sector, which has been hit hard by troubles in the subprime mortgage ... sales index has given some false signals. While it rose in June, existing home ... will likely worry investors and the Federal Reserve, which has cut interest rates ...
    2007-11-13 01:56:00
  • Movers: Wal-Mart, Home Depot, TJX, Goldman Sachs, Corning, Apple

    BusinessWeek - Home Depot ( HD ) posts $0.59, vs. $0.65 a year ago, third quarter EPS from ... guidance to $0.58-$0.60, reflects the benefit of favorable foreign exchange rates ... services conference that GS maintains a short position in the sub-prime mortgage ...
    2007-11-13 02:46:00