Mortgage and Financial News From 2008-1-10 Page 11
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(AFX UK Focus) 2008-01-11 04:35 GMT: Asian stocks mixed as US recession fears hurt Japan, Australia; Malaysia gains (Interactive Investor)
SINGAPORE (Thomson Financial) - Asian stocks traded mixed Friday as investors continued to grapple with fears that the US is headed for a recession and hopes that rate cuts will stave one off, after Federal Reserve Chairman Ben Bernanke hinted strongly at more easing to come.
2008-01-10 08:57:18 -
To Get a Loan, You'll Need More Than Great Credit
Street.Com - You'll probably need to show mortgage lenders your tax returns for the past two years, as well as three months' worth of statements from bank and investment accounts. If you're self-employed, you may need to provide a year-to-date profit-and-loss ...
2008-01-10 09:12:00 -
Bank holds rates as mortgage data emerge
Financial Times - The Bank’s survey of quoted mortgage rates at the end of December showed rates on most fixed-rate mortgage products had changed little over the month, despite a lower official rate and a decline in two-year swap rates, which determine lenders ...
2008-01-10 05:33:00 -
Countrywide Seeks Rescue Deal
Wall Street Journal - Bank of America's move provided an immediate shot in the arm, as the battered stocks of Countrywide and some other mortgage lenders rose on optimism that the possible takeover by Bank of America could signal an end to the relentless bad news from ...
2008-01-10 05:48:00 -
Bernanke signals 'substantive' cut in US interest rates
The Independent - Financial markets reacted enthusiastically to the word "substantive", which was interpreted as increasing the likelihood of a 50-basis-point interest rate cut when the Fed meets next at the end of January. Futures markets began to price in rate cuts ...
2008-01-10 04:29:00 -
Australian dollar opens higher on talk of US rate cut
News.com.au - Bank of New Zealand currency strategist Danica Hampton said the prospect of a widening interest-rate differential between Australia and the US helped push the local currency higher. "Currencies that tended to appreciate the most against the weaker ...
2008-01-10 04:43:00 -
Japan's Nikkei 225 Futures Gain on Fed Rate Cut Speculation
Bloomberg - More interest-rate cuts ``may well be necessary'' after 1 percentage point of reductions since September to buttress economic growth, Bernanke said yesterday in his first speech on the economy since the Fed's Dec. 11 meeting. ``A recovery ...
2008-01-10 03:46:00 -
Housing market hits banks’ shares again
Times Online - That revived fears that Britain’s mortgage lenders may find refinancing loans difficult. There was the usual rumour that one of the mortgage lenders had gone to the Bank of England, perhaps sparked by a £1.4 billion rise in the Bank’s weekly ...
2008-01-10 03:46:00 -
Wall Street rallies as Bernanke signals rate cut
News.com.au - US STOCKS rallied for a second straight day today after Federal Reserve chairman Ben Bernanke said the central bank was prepared to take "substantive" action on interest rates to counter economic headwinds. The market got further support from a ...
2008-01-10 03:17:00 -
UPDATE 6-Toronto stocks rally on U.S. rate-cut signals
Reuters - TORONTO, Jan 10 (Reuters) - The Toronto Stock Exchange's main index recovered from big early losses and finished higher on Thursday as banking and resource issues were encouraged by expectations of further interest rate cuts following comments made ...
2008-01-10 03:17:00 -
Dollar Heads for Weekly Decline Versus Euro on Rate Outlook
Bloomberg - Bernanke said yesterday it ``may well be necessary'' to have more interest-rate cuts from 4.25 percent. The dollar fell the most against the currency of Australia after economic reports in that nation this week supported bets the central bank will ...
2008-01-10 03:46:00 -
Paragon to unveil discounted rights issue
Financial Times - Paragon is close to announcing it will be the first UK mortgage lender to undertake a hugely discounted rights issue because of the credit squeeze. In a move that will spark renewed fears about smaller UK mortgage lenders, Paragon is being forced to ...
2008-01-10 03:46:00 -
Fed ready to cut interest rates again
BusinessWeek - Many economists now believe the Fed will slice its key interest rate by a bold one-half of a percentage point when the Fed meets next Jan. 29-30. Some, however, think the Fed will go with a more modest one-quarter point reduction, given concerns that ...
2008-01-10 03:53:00 -
Bernanke Signals Rate Cut
Street.Com - Federal Reserve Chairman Ben Bernanke on Thursday signaled the central bank's intention to cut its key interest rate later this month. Bernanke, in the afternoon speech to the Women in Housing and Finance and Exchequer Club Joint Luncheon in ...
2008-01-10 02:34:00 -
Australian Dollar Rises to Eight-Week High on Rate Advantage
Bloomberg - Jan. 11 (Bloomberg) -- The Australian dollar rose to the highest in almost eight weeks after Federal Reserve Chairman Ben S. Bernanke indicated he will cut U.S. borrowing costs, boosting Australia's interest-rate advantage. The local dollar had the ...
2008-01-10 03:10:00
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