Mortgage and Financial News From 2008-5-13 Page 5
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Alliance & Leicester to pull £4bn from UK mortgage market - Daily Telegraph
Alliance & Leicester is on course to reduce its mortgage book by 10pc this year, pulling as much as £4bn out of the market in a move that will add to the shortage of deals for home buyers. Britain's seventh largest mortgage lender revealed today ...
2008-05-13 04:32:00 -
UK's Nationwide cuts mortgage rates - Reuters
LONDON, May 13 (Reuters) - Nationwide, Britain's third largest mortgage lender, is cutting the price of some of its fixed rate home loans as it vies to lure in new customers. The building society said it would reduce some two and five-year fixed rate ...
2008-05-13 03:42:00 -
UK mortgage lending hits worst level for 30 years - Times Online
Mortgage lending to first-time buyers and existing homeowners fell during the first quarter to its lowest level for more than three decades and is predicted to worsen throughout 2008. According to the Council of Mortgage Lenders (CML), new home loans ...
2008-05-13 08:57:00 -
Jumbo mortgage rates becoming affordable - San Francisco Gate
Those new jumbo-conforming mortgages, created by Congress to make homes in high-priced areas more affordable, are finally getting cheaper. Late last week, many lenders slashed their rates by about one-half of a percentage point on jumbo-conforming ...
2008-05-13 09:47:00 -
UK consumer prices rose 3 percent in April - Boston Globe
LONDON— Consumer prices in Britain shot up 3 percent in April compared with a year earlier, propelled by rising prices for home gas, electricity and heating oil, the government said Tuesday. The jump magnifies the contrary pressures on the Bank of ...
2008-05-13 05:00:00 -
London Suffers Most Widespread House-Price Declines Since 1994 - Bloomberg
May 13 (Bloomberg) -- London's property market had the most widespread price declines in at least 14 years last month as the slump in financial services deepened and banks curbed lending, the Royal Institution of Chartered Surveyors said. The number ...
2008-05-12 05:12:00 -
Consumers in for a kicking - News.com.au
CONSUMERS are in for a big banking shake up with one big bank disappearing into the giant mouth of Westpac, leaving just four big bank players, who will continue to charge high fees, high mortgage rates and pay poor returns on savings. Westpac and St ...
2008-05-12 05:55:00 -
Mortgage lenders tightened credit in April - International Herald Tribune
LONDON : Mortgage lenders tightened credit terms last month despite a cut in official interest rates, Bank of England data showed on Monday. Figures from the central bank show the typical rate on a new two-year 95 percent loan-to-value fixed mortgage ...
2008-05-12 07:53:00 -
Bank of America focused on consumer credit amid weak economy (Market Watch)
Bank of America Corp. (BAC) Global-Consumer and Small-Business Banking President Liam McGee - while admitting the bank is "obviously not happy with rising credit losses" - said Tuesday the company is focused on consumer credit as it tries to navigate a difficult economic environment.
2008-05-13 07:46:11 -
Reuters Business Summary (Reuters via Yahoo! Philippines News)
HP seals EDS deal for $12.6 billion
2008-05-13 08:01:31 -
Bank of America's credit costs rise (CNN Money)
Bank faces challenging headwinds amid credit turmoil; says customers under 'significant economic pressure.'
2008-05-13 08:31:55 -
BofA customers under 'significant pressure' (Connecticut Post)
CHARLOTTE, N.C. (AP) — Bank of America Corp., the nation's second-largest bank, reported rising credit costs Tuesday, as it continues to wade through a challenging economic cycle.
2008-05-13 08:33:51 -
IndyMac Posts Loss on Mortgage Troubles (NYTimes.com via Yahoo! Finance)
In addition to posting a $184 million loss for the first quarter of 2008, the mortgage lender warned Monday it would not post a profitable quarter this year.
2008-05-13 08:36:47 -
U.S. Stocks Fall, Led by Banks; JPMorgan, Hewlett-Packard Drop (Bloomberg.com)
May 13 (Bloomberg) -- U.S. stocks fell, led by banks, after Federal Reserve Chairman Ben S. Bernanke said financial companies may need to raise more capital, a report showed home prices tumbled and the outlook for securities firms' profits worsened.
2008-05-13 08:43:53 -
How secure are those high-yield bank interest rates? - Marketwatch
PALM BEACH GARDENS, Fla. (MarketWatch) -- Generous interest rates on deposits have been promoted by the very institutions that lately are cited in the news for financial troubles. Are these institutions safe? Beware that if one fails and the FDIC ...
2008-05-12 04:07:00