Mortgage and Financial News From 2008-6-5 Page 7
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Mexico's Soriana readies 1st part of debt program - Reuters
MEXICO CITY, June 5 (Reuters) - Soriana, Mexico's second-biggest retailer, plans to offer up to 10 billion pesos ($967 million) in debt next week, the first tranche of a program to refinance loans used to buy stores from rival Gigante. According to a ...
2008-06-05 09:05:00 -
Home foreclosures set record in Q1 (Connecticut Post)
WASHINGTON (AP) — Home foreclosures and late payments set records over the first three months of the year and are expected to keep rising, stark signs of the housing crisis'
2008-06-05 08:19:45 -
U.S. home foreclosures hit another record (CBC)
Home foreclosures in the U.S. rose to all-time highs in the first three months of the year, the Mortgage Bankers Association said Thursday.
2008-06-05 09:05:16 -
Home foreclosures set records during first quarter (The Arizona Republic)
Report reveals stark signs of the housing crisis' mounting damage to homeowners, economy.
2008-06-05 09:10:37 -
Home Foreclosures Set Record in First Quarter (NYTimes.com via Yahoo! Finance)
Foreclosures and late payments are expected to keep rising, according to the Mortgage Bankers Association, stark signs of the housing crisis’ mounting damage.
2008-06-05 09:37:51 -
Verizon Wireless to Purchase Alltel for $28.1 Billion (Update3) (Bloomberg.com)
June 5 (Bloomberg) -- Verizon Wireless agreed to buy Alltel Corp. for $28.1 billion in cash and debt to overtake AT&T Inc. as the biggest mobile-phone company in the U.S.
2008-06-05 10:21:05 -
Rates on fixed-rate mortgages hold steady - Marketwatch
CHICAGO (MarketWatch) -- Rates on fixed-rate mortgages barely budged this week due to reports of continued inflation, Freddie Mac's chief economist said on Thursday. The 30-year fixed-rate mortgage averaged 6.09% for the week ending June 5, up just ...
2008-06-05 07:32:00 -
Bank of England holds interest rates at 5% in blow to householders and ... - Times Online
The Bank of England today spurned pleas for a new cut in interest rates to shore up the faltering economy and slumping housing market and held them at 5 per cent. The harsh noon verdict from the Bank’s rate-setting Monetary Policy Committee (MPC ...
2008-06-05 07:54:00 -
U.S. mortgage rates nearly unchanged - Political Gateway
WASHINGTON, June 5 (UPI) -- Interest rates for 30-year, fixed-rate mortgages gained slightly in the United States in the last week, the Federal Home Loan Mortgage Corp. said Thursday. The average 30-year fixed interest rate averaged 6.09 percent with ...
2008-06-05 07:46:00 -
Banks may need to cut dividends, Fed warns (Khaleej Times)
WASHINGTON - Bankers grew so sloppy about risks during good times that they may now need to cut dividends and raise more capital to prepare for coming problems, Federal Reserve Vice Chairman Donald Kohn warned on Thursday.
2008-06-05 08:47:16 -
Bank of England holds interest rates at 5 pct (Khaleej Times)
LONDON - The Bank of England held interest rates at 5 percent for the second month running on Thursday despite growing evidence that the economy is braking sharply and signs the housing market could be in for a hard landing.
2008-06-05 08:47:48 -
UK & World News: House prices fall by 4% (icNewcastle - Sunday Sun)
House prices have fallen by nearly 4% during the past year, their fastest rate of decline since 1993, figures have shown.
2008-06-05 08:51:26 -
Rates on 30-year mortgages rise to three-month high (AP via Yahoo! Finance)
Rates on 30-year mortgages edged up this week to the highest level since March as investors worried about inflation threats.
2008-06-05 08:52:34 -
Home foreclosures set record in first quarter (Bradenton Herald)
Homeowners with adjustable-rate mortgages were clobbered when their initially low rates reset to much higher ones. That made it difficult, if not impossible, to keep up with monthly mortgage payments.
2008-06-05 08:52:34 -
Florida No. 2 in failed loans as foreclosures surge (Miami Herald)
As adjustable-rate home loans continued to reset amid falling property values, the number of homeowners succumbing to foreclosure surged in Florida in the first three months of the year to 77,000 properties.
2008-06-05 08:56:12