Mortgage and Financial News From 2008-2-28 Page 10

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  • Treasuries Rally as Reports Show a Weakening U.S. Economy

    Bloomberg - More than $163 billion in losses linked to subprime mortgage loans and the worst housing recession in a quarter-century have prompted the Fed to cut rates from 5.25 percent since September.
    2008-02-28 10:30:00

  • State announces $1.5 million plan for mortgage help

    Des Moines Register - Iowa has been in the thick of a national mortgage meltdown that began in 2006 when loans, many with high interest rates, or monthly payments that jumped over time, began to go sour.
    2008-02-28 11:49:00

  • Movers: Sprint Nextel, MF Global, Freddie Mac, Thornburg Mortgage

    BusinessWeek - ... of declining long-term interest rates. It says as a result of continuing deterioration in the U.S. housing market, revises its estimate of total credit losses for 2008 and 2009 to $2.2 billion and $2.9 billion, respectively.
    2008-02-28 10:37:00

  • Freddie Mac Posts $2.5B Loss in 4Q

    Newsday - WASHINGTON - Freddie Mac on Thursday said its loss widened to $2.5 billion in the fourth quarter of 2007 as mortgage defaults mounted and falling interest rates hurt certain investments. Despite expectations of further losses this year and next, the ...
    2008-02-28 12:32:00

  • U.S. subprime crisis, poverty hand-in-hand: study

    Reuters - Bread for the World Institute researchers examined subprime mortgage rates in counties with poverty rates of 20 percent or higher and those with subprime mortgage rates exceeding 13 percent on average.
    2008-02-28 12:39:00

  • Sector Snap: Mortgage Lenders fall

    MSN MoneyCentral - Freddie Mac said it lost $2.5 billion during the fourth quarter because of mounting mortgage defaults and falling interest rates hurting its investments.
    2008-02-28 10:09:00

  • A Wild Day for Fannie Mae

    MSN MoneyCentral - In addition to benefiting from wider mortgage spreads, since mortgage rates havent fallen as much as market interest rates, Fannie Mae is charging higher guaranty fees, he said.
    2008-02-28 11:56:00

  • Are mortgage interest rates out of control?

    New Zealand Herald - Fixed mortgage rates for both ANZ and National banks will rise, with the most popular two-year rate up by 20 basis points to 9.7 per cent and the three-year rate up 25 basis points to 9.55. ASB Bank has announced it will follow suit. Are mortgage ...
    2008-02-28 10:44:00

  • U.S. mortgage rates rise

    Marketwatch - CHICAGO (MarketWatch) -- Mortgage rates rose again this week, bringing the 30-year and 15-year fixed-rate mortgages to levels last seen in November, Freddie Mac's chief economist said on Thursday. The upward rate movements are a reversal of what was ...
    2008-02-28 11:34:00

  • Bush, Fed Chief See No Recession Ahead (San Francisco Chronicle)

    The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon. Both Bush and Bernanke are on the front lines of the government's efforts to right an...
    2008-02-28 12:48:11

  • Oil hits new peak after UK gas terminal fire (Reuters via Yahoo! UK & Ireland News)

    Oil vaulted more than 3 percent a barrel on Thursday to an all-time peak near $103 -- eclipsing the previous inflation-adjusted high set 28 years ago -- after a fire hit a major European natural gas terminal and the U.S. dollar fell to a record low.
    2008-02-28 12:50:00

  • Earnings Roundup: Smithfield, Sprint (AP via Yahoo! Finance)

    Among the earnings stories for Thursday, Feb. 28, from AP Financial News: Top stories: NORFOLK, Va. -- Pork producer Smithfield Foods said Thursday that third-quarter profits fell about 10 percent on lower live hog prices and higher raising costs, but the results beat expectations handily.
    2008-02-28 12:50:46

  • Paulson rejects government bailouts (AP via Yahoo! News)

    Treasury Secretary Henry Paulson said Thursday that many proposals being put forward to deal with the housing slump would do more harm than good.
    2008-02-28 12:52:11

  • Cramer: Mortgage Rates Going Higher (CNBC via Yahoo! Finance)

    The trend is “exactly the opposite of what they need in Washington,” Cramer says.
    2008-02-28 12:52:57

  • Fitch Rates Wells Fargo's $218.5MM P-T Ctfs Series 2008-AR2 (Business Wire via Yahoo! Finance)

    NEW YORK----Fitch rates Wells Fargo mortgage pass-through certificates, series 2008-AR2, as follows:
    2008-02-28 12:53:00

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