Mortgage and Financial News From 2007-9-25 Page 8

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  • C.A.R. Reports Sales Decrease 27.8 Percent in August, Entry-Level ...

    Forbes - Thirty-year fixed-mortgage interest rates ... Adjustable-mortgage interest rates averaged 5.67 percent in August 2007 compared with 5.64 percent in August 2006. -- The median number of days it took to sell a single-family home ...
    2007-09-25 12:19:00

  • Fitch Affirms Wells Fargo's Consumer Credit Group Servicer Rating for ...

    Forbes - ... service home equity loans and home equity lines of credit. However, Fitch will continue to monitor CCG's efforts to maintain portfolio and operational performance in a high delinquency environment. Fitch Ratings rates residential mortgage primary ...
    2007-09-25 02:06:00

  • Japan Trade Surplus Surges on Exports of Autos, Steel (Update1)

    Bloomberg - ... slump since 1991 has cooled growth in Japan's largest export market and prompted the Federal Reserve to cut interest rates ... Toyota Motor Corp., Japan's largest automaker, said U.S. auto sales slipped 2.8 percent last month as the subprime mortgage ...
    2007-09-25 05:05:00

  • Debenhams, Home Retail Fall to Record as U.K. Retailers Slide (Bloomberg.com)

    Sept. 25 (Bloomberg) -- Debenhams Plc and Home Retail Group Plc fell to record lows in London trading as ScS Upholstery Plc said higher interest rates are curbing demand, adding to concern about consumer spending and causing U.K. retail shares to slide.
    2007-09-25 06:28:13

  • Debenhams, Home Retail Fall on U.K. Spending Concerns (Update1) (Bloomberg.com)

    Sept. 25 (Bloomberg) -- Debenhams Plc and Home Retail Group Plc fell to record lows in London trading after ScS Upholstery Plc said higher interest rates are curbing sales, adding to concern consumer spending will dwindle.
    2007-09-25 09:28:30

  • Mortgage brokers urge customers to lie about salary to get huge home loans (Evening Standard)

    Unscrupulous brokers are encouraging homebuyers to lie about their finances to qualify for huge mortgages up to eight times their salary. Experts warn that the scam could drag Britain into a US-style subprime mortgage crisis.
    2007-09-25 05:20:31

  • Falling consumer confidence in U.S. and Germany hurts global markets

    International Herald Tribune - ... about the Federal Reserve's next move after it cut interest rates by a half a point last week. That came in response to the market turbulence from a fallout in the subprime mortgage ... driving an important barometer of consumer sentiment to its lowest ...
    2007-09-25 12:26:00

  • U.S. Consumer Confidence Declines More Than Forecast (Update1)

    Bloomberg - ... Consumer confidence fell more than forecast in September to the lowest level in ... The Federal Reserve cut interest rates by half a percentage point last week to ... Defaults by subprime mortgage borrowers and rising foreclosures will put more houses ...
    2007-09-25 07:18:00

  • US homebuilder Lennar Corp slumps to record loss

    Times Online - The group’s revenues fell by 44 per cent to $2.34 billion, the lowest in more than ... It added: “Consumer confidence in housing has remained low, while the mortgage market has continued to redefine itself, creating higher cancellation rates.
    2007-09-25 02:57:00

  • Credit Market Tightens as Economic Worries Grow

    CNBC - ... market conditions tightened on Tuesday sending euro money market overnight rates ... The marginal rate, or lowest successful bid, was 4.27% compared to the ECB's 4 ... in the interbank market since Aug. 9, as spillover from the U.S. subprime mortgage ...
    2007-09-25 07:26:00

  • Lennar Reports Biggest Loss in Its 53-Year History (Update9)

    Bloomberg - Revenue at Miami-based Lennar fell 44 percent to $2.34 billion, the lowest in more than three years. Chief ... The increase in long-term mortgage rates comes after the Sept. 18 decision by the Federal Open Market Committee to cut its ...
    2007-09-25 01:31:00

  • Dollar Resumes Fall

    Forbes - The index is at its lowest level since November 2005. U.S. economic concerns were ... That came in response to the market turbulence in the fallout from the subprime mortgage crisis, and many analysts see more rate cuts ahead. Lower interest rates ...
    2007-09-25 02:57:00

  • Debenhams, Home Retail Fall on U.K. Spending Concerns (Update1)

    Bloomberg - ... record lows in London trading after ScS Upholstery Plc said higher interest rates ... Partnership Plc to say the second half of the year will be tougher as rising mortgage ... Argos catalog stores, dropped 16.5 pence, or 4.5 percent, to 351 pence, the lowest ...
    2007-09-25 09:13:00

  • Japan's Consumer Prices Likely Fell for Seventh Month in August

    Bloomberg - ... the economy contracted in the second quarter and a U.S. mortgage rout intensified concern that global growth will slow. The bank still plans to increase Japan's ``very low'' interest rates ... in July 2006 and doubled it to 0.5 percent, still the lowest ...
    2007-09-25 04:30:00

  • US consumer confidence hits 2-year low

    Guardian Unlimited - ... among analysts that the Federal Reserve will need further cuts in interest rates ... This was the lowest level since November 2005 and much lower than Wall Street ... Much of the turmoil has been caused by the sub-prime mortgage market - where loans ...
    2007-09-25 03:47:00

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