Mortgage and Financial News From 2008-3-3 Page 3

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  • Australia Increases Benchmark Rate to 12-Year High (Update3) (Bloomberg.com)

    March 4 (Bloomberg) -- Australia's central bank increased its benchmark interest rate for the second time in four weeks and said there are signs the highest borrowing costs in 12 years are prompting consumers and businesses to temper spending.
    2008-03-03 09:32:56

  • Relief for Homeowners Is Given to a Relative Few (NYTimes.com via Yahoo! Finance)

    The Bush administration said mortgage companies were showing more willingness to relax loan terms for subprime borrowers in danger of losing their houses.
    2008-03-03 09:41:46

  • 'This will hurt' says PM (The Age)

    Prime Minister Kevin Rudd says he takes responsibility for interest rate rise.
    2008-03-03 09:45:11

  • Rate rise to hurt family budgets: Rudd (Queensland Country Life)

    Prime Minister Kevin Rudd says the latest rise in official interest rates will be a double blow for family budgets still struggling with last month's increase.
    2008-03-03 10:01:29

  • Rate cuts not trickling down

    Allentown Morning Call - Jacobsen, 30, wants to refinance her 7.25 percent first and 8.5 percent second mortgages into one loan at a lower cost. ... For home buyers, conditions will get worse, industry analysts say. Loan purchasers like Freddie Mac have added new charges ...
    2008-03-03 02:19:00

  • Anoka County among hardest hit in housing crisis

    Minneapolis Star Tribune - ... with people who have overextended themselves crashing against changing interest rates," said Jan Backlin, director of home ... Sometimes, the homeowners arrange to refinance. 'Never seen anything like this'
    2008-03-02 09:44:00

  • Valley foreclosures to surge

    MSNBC - People thought Arizona home values would always rise, so they could refinance out of risky loans, Drake added. "We're paying for our sins," she said.
    2008-02-29 03:58:00

  • Grim repo man calls on 75 homes a week

    News.com.au - ... you either find a better paying job or 2nd job where possible, try to refinance or see if you can have early access to your superannuation (they usually provide up to $10,000 in cases of financial hardship where you're about to lose your family home ...
    2008-03-03 05:20:00

  • 5 prominent housing aid proposals

    BusinessWeek - Allow about 8 million homeowners who owe more than their homes are worth to refinance into government-backed loans, giving lenders the ability to share some of the gains if the home is eventually sold at a higher price.
    2008-03-02 01:04:00

  • Countrywide may face more credit woes

    Globe and Mail - Home   National British Columbia Prairies Ontario Quebec Atlantic Politics Education ... loans being processed rose 46 per cent, suggesting homeowners are taking advantage of lower interest rates to refinance.
    2008-03-03 02:54:00

  • Some Borrowers Rescued

    Wall Street Journal - ... association that is the main sponsor of the Hope Now effort, said that prime mortgages are growing as a percentage of problem loans in response to falling home prices. That's making it more difficult for those with financial troubles to refinance or ...
    2008-03-03 06:46:00

  • Look around before switching loans

    News.com.au - With interest rates rising, the Federal Government says consumers should be able to switch to better home loans without ... How to put a squeeze on the bankers Refinance: Look around before switching loans Deposits:
    2008-03-03 02:00:00

  • U.S. home loan "workouts" exceed 1 mln -Hope Now

    Guardian Unlimited - During the housing boom, many borrowers took out loans with expectations they would be able to refinance their mortgage and extract home equity.
    2008-03-03 09:28:00

  • HSBC lifts dividend despite record bad debts

    Daily Telegraph - Despite the bad debt charge, which tops the £10.6bn that last year led to its ... The bank cautioned today that "the economic slowdown and the credit outlook in the ... The problems were caused by aggressive sub-prime mortgage selling at its US arm HSBC ...
    2008-03-03 12:45:00

  • Seoul stocks edge down, weighed by credit worries

    Reuters - ... there's news of fresh bad debt and asset problems, concerns of the credit crunch return and hurt equities." Financial companies remained under pressure after U.S. peers took a beating on Monday due to a cash squeeze at a high profile mortgage lender ...
    2008-03-02 03:56:00

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