Mortgage and Financial News From 2008-3-5 Page 18

Previous Day: 2008-03-04

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• UPDATE: HSBC Profit Climbs 21%, Bad-debt Charge Soars On Subprime

  CNN Money - ... North America were virtually wiped out by an ill-fated push into the subprime-mortgage ... from its U.S. operations slumped more than 98% to $91 million due to surging bad ... The economic slowdown and the credit outlook in the U.S. may well get worse before ...
  2008-03-03 01:57:00

• Citigroup shares plunge on fears bank is hurting for cash

  New York Daily News - Shares have shed about 50% since the credit markets froze up last summer. ... Having already written down $18 billion in bad mortgage-related debt in the fourth quarter, Merrill Lynch analysts predicted that ...
  2008-03-04 11:46:00

• FAMILIES HIT AS BORROWING COSTS RISE

  Daily Express - The sharp reduction in competition in the mortgage market is bad news for borrowers at a time when family ... The shortage of cheap funding in the global credit markets in the wake of the American mortgage crisis and the Northern Rock scandal at ...
  2008-03-05 03:42:00

• Regulators Cite Construction Loan Fears

  Washington Post - These problems, if they worsen, are likely to rattle shaky credit markets and could ... million for loan losses in the fourth quarter of 2007, primarily because of bad ... after facing tough competition from national players in the residential mortgage ...
  2008-03-05 03:21:00

• Bernanke warnings on housing slump spark Wall Street sell-off

  Guardian Unlimited - ... adding that in spite of relief efforts from the mortgage ... has been battered by the sub-prime fiasco and the credit crunch. Analysts at Merrill Lynch sparked the sell-off by saying the bank could be forced to write down a further $18bn (£9bn) in bad ...
  2008-03-05 01:48:00

• No deposit first-time buyers squeezed out

  This is Money - Borrowers with bad debts are getting better mortgage deals than those without a deposit, as first-time buyers are shut out of the market. Squeezed out: Poor credit history borrowers can get better rates than first-time buyers with no deposit A Money ...
  2008-03-05 02:45:00

• Reuters Business Summary (Reuters via Yahoo! Singapore News)

  OPEC poised to keep output steady, U.S. unhappy
  2008-03-05 02:01:22

• Treasuries Gain on Speculation Economic Slowdown Is Deepening (Bloomberg.com)

  March 5 (Bloomberg) -- Treasuries rose, snapping two days of losses, before industry reports that may show hiring slowed and service businesses contracted last month, adding to evidence the U.S. economy is sliding into a recession.
  2008-03-05 02:40:14

• And the band played on (Asia Times)

  How appropriate it is that paper is the traditional gift of choice in celebration of a first anniversary. It was one year ago that the markets consummated their unhappy shotgun union with what has become known as the subprime crisis.
  2008-03-05 02:46:56

• Asian Markets Mixed (AP via Yahoo! Finance)

  Asian markets were mixed Wednesday after another day with no clear signal from Wall Street or on the direction of the U.S. economy.
  2008-03-05 03:10:16

• Low-income workers lose ground, study says (Orlando Sentinel)

  The line between the poor and middle class is getting thinner in Central Florida as poverty levels continue to rise, even among those working two or three jobs, according to a new University of Central Florida study.
  2008-03-05 03:15:56

• Should You Unlock Capital From Your Home? (The Motley Fool)

  Does it make sense to borrow more money against your home?
  2008-03-05 03:21:07

• Monday's Biggest Stock Stars

  MSNBC - Thornburg specialized in hybrid ARM's (adjustable rate mortgages) ... Mostly jumbos, mostly located in California ... Over time, consistently reverse-engineering winning -- and losing -- stocks will help you become a more Foolish investor.
  2008-03-04 07:11:00

• Desjardins Takes C$116 Million Writedown on ABCP (Update1)

  Bloomberg - ... Inc. and other funds failed to renew maturing debt because investors were concerned about ties to U.S. subprime mortgages. ... Desjardins may reverse some of the writedowns once the longer-term notes have started trading if the price of the securities ...
  2008-03-03 10:18:00

• A new look at mortgages

  Age - Building blocks for home ownership ... equity finance mortgages. 200 92 Erin Jonasson http://www.theage.com.au/news/money/cheap ... text/html-document http://www.theage.com.au/news/money/reverse-with-care/2008/02/25/1203788246755.html
  2008-03-04 02:13:00

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