Mortgage and Financial News From 2008-2-5

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  • Commonwealth Bank Raises Rates More Than Central Bank Increase - Bloomberg

    Commonwealth Bank Raises Rates More Than Central Bank IncreaseBloomberg - 36 minutes ago6 (Bloomberg) -- Commonwealth Bank of Australia, the nation's biggest mortgage lender, raised interest rates more than the central bank for a second time, ...
    2008-02-05 06:24:06
  • KAY BELL: Tax myths continue to surround homeownership - The Olympian

    KAY BELL: Tax myths continue to surround homeownershipThe Olympian, WA - 30 minutes agoMy mortgage interest will reduce my tax bill. This is true for the majority of homeowners, but not for all. And this tax break won't work forever. ...
    2008-02-05 06:29:56
  • Macquarie Names Moore to Replace Chief Executive Moss (Update5) - Bloomberg

    Macquarie Names Moore to Replace Chief Executive Moss (Update5)Bloomberg - 11 minutes agoSince then, the MSCI World Index has dropped 10 percent amid concern the crisis in subprime mortgages may spark a US recession. The company gets more than ...
    2008-02-05 06:49:30
  • ResCap's loss for all of 2007: $4.3 billion - Minneapolis Star Tribune (subscription)

    ResCap's loss for all of 2007: $4.3 billionMinneapolis Star Tribune (subscription), MN - 26 minutes agoBy MIKE MEYERS, Star Tribune Bloomington-based Residential Capital, struggling with the continuing fallout from subprime mortgage lending, ...
    2008-02-05 06:34:27
  • Neither a ninja nor a lender be - La Voz Weekly

    Neither a ninja nor a lender beLa Voz Weekly, CA - 14 minutes agoConsequently, lenders set their sights on subprime borrowers (debtors with impaired credit), enticing them with such things as interest-only mortgages, ...
    2008-02-05 06:46:11
  • The Centro effect (Moneymanager)

    Listed property trusts have long been a staple of conservative investors seeking a secure income and capital preservation.
    2008-02-05 04:26:29
  • What Caused Home Mortgage Market Out of Control? - GuruFocus.com

    What Caused Home Mortgage Market Out of Control?GuruFocus.com, TX - 11 minutes agoLet us just look at the two most common derivatives of MBS: IO (interest only) and PO (principal only). Investors of IO vs. PO would only have rights to the ...
    2008-02-05 06:49:13
  • Rates agony: expect to be bitten again - St George & Sutherland Shire Leader

    Rates agony: expect to be bitten againSt George & Sutherland Shire Leader, Australia - 9 minutes agoAn economist at ABN Amro, Kieran Davies, said it was only a matter of time before the Reserve lifted interest rates again. "For the Reserve Bank to hold off ...
    2008-02-05 06:51:15
  • Upstate investment firm starts dissolving (The Greenville News)

    An Easley-based investment firm is being dissolved and can't guarantee about 650 noteholders who are owed about $39.8 million that they will get all of their money back.
    2008-02-05 06:07:18
  • Ruben Navarrette: We can't afford bailouts - Long Beach Press-Telegram

    Ruben Navarrette: We can't afford bailoutsLong Beach Press-Telegram, CA - 5 minutes agoOne offers a bandage: Hillary Clinton wants to impose a moratorium on foreclosures for 90 days and to freeze mortgage interest rates for five years. ...
    2008-02-05 06:55:24
  • Consumer squeeze pummels Regent Inns (Independent)

    Regent Inns, the operator of the Walkabout pub chain, yesterday added further gloom to the pub and bar sector, as it blamed the consumer slowdown and the smoking ban for its unexpectedly poor performance.
    2008-02-05 06:19:14
  • Dow Plunges 350 on Weak Service Sector (IWon - Money)

    NEW YORK (AP) — Stocks slumped for a second straight session Tuesday after Wall Street saw an unexpected contraction in the service sector as evidence that the economy is sinking into recession. The Dow Jones industrial average fell more than 350 points, while bond prices rose.
    2008-02-05 06:26:16
  • Obama, McCain Projected Illinois Winners (NBC 5 Chicago)

    Barack Obama and John McCain are the projected winners in the Illinois primary.
    2008-02-05 05:13:52
  • Commonwealth Bank Raises Rates More Than Central Bank Increase (Bloomberg.com)

    Feb. 6 (Bloomberg) -- Commonwealth Bank of Australia, the nation's biggest mortgage lender, raised interest rates more than the central bank for a second time, responding to higher borrowing costs in debt markets.
    2008-02-05 06:27:04
  • Agflation is sending food prices through the roof (Daily Dispatch)

    WITH food inflation in South Africa running at over 10%, a new danger is haunting the marketplace – it’s called agflation, or agricultural price inflation.
    2008-02-05 05:24:36