Mortgage and Financial News From 2007-12-30

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  • Mortgage meltdown tops Missouri business news (Jefferson City News Tribune)

    KANSAS CITY, Mo. (AP) - The nationwide mortgage meltdown spurred some of the Missouri's biggest news stories this year, affecting homeowners and big corporations alike.
    2007-12-29 03:11:12

  • Prime borrowers may soon feel pain (The Charlotte Observer)

    Homeowners with good credit -- those with prime mortgages -- haven't necessarily escaped the mortgage nightmare that has been playing out among subprime borrowers and lenders across the U.S. A broader swath of homeowners will find in 2008 that they can't afford their monthly payments, will have a hard time refinancing or both, mortgage experts say. Many of the adjustable-rate mortgages that ...
    2007-12-30 12:07:40

  • Rev. Jackson: Subprime Lenders Prey On The Weak (CBS 2 Chicago)

    Sub-prime lenders and scam artists are "preying upon the weak," according to Rev. Jesse Jackson, who is calling for a restructuring of the mortgage debt market.
    2007-12-29 09:27:35

  • Mortgage lenders fell on tough times in 2007 (The San Luis Obispo Tribune)

    F or those in the mortgage lending business, 2007 was the year of the reality check. With lending standards tightening nationwide because of the subprime crisis and fewer people in the market for a home, some San Luis Obispo County lenders found that the steady business they enjoyed during the real estate boom had slowed. “Lenders couldn’t keep doing 100 percent financing and assume that one ...
    2007-12-30 12:15:22

  • Harper: Economy good, but be careful

    St. Petersburg Times - The Bank of Canada's key interest rate is steady at 4.25 percent while the prime lending is 6 percent. Canadian stock markets are higher, with the Toronto Exchange index at 13,781 points and the TSX Venture Exchange at 2,764 points. Lotto 6-49 ...
    2007-12-29 10:12:00

  • No hike in interest subsidy to farmers:Finmin

    Business Standard - ... fact, Standing Committee on Finance has observed that 2% subvention is not adequate, considering the requirements of the farming community. The National Commission for Farmers, headed by Dr. M S Swaminathan, had recommended reduction in interest rate ...
    2007-12-29 11:17:00

  • Preapproved and ready to move? Not so fast

    Boston Globe - First, Michigan-based Quicken Loans said he would have to pay a point at closing to keep a 6.25 percent interest rate because his credit score was below 680. Then he got a frantic call from the representative he had been working with telling him the ...
    2007-12-29 11:10:00

  • Bank of Japan eyes cut in growth forecast - report

    Forbes - It said the central bank, which is responsible for interest rate decisions, would announce the downgrade during its monetary policy meeting on Jan 21 and 22. Housing construction has fallen sharply after the introduction of stricter earthquake ...
    2007-12-29 10:12:00

  • Finance minister rules out increasing interest subsidy on crop loans (Press Trust of India)

    New Delhi, Dec 30 (PTI) The Finance Ministry has ruled out increasing interest subsidy, which at its present level of two per cent will cost the Exchequer more than Rs 2,000 crore this fiscal, given for short-term crop loans.
    2007-12-29 10:27:13

  • Job weakness likely to dictate US rate cuts (Gulf Daily News)

    CHICAGO: Increasingly weak job growth is likely to dictate more interest-rate cuts from the Federal Reserve in the first quarter of next year, regardless of an uptick in inflation.
    2007-12-29 01:57:42

  • Lazy savers benefit from compounding interest (Pioneer Press)

    Dear Mary: I read your recent article on compounding interest. Do I have to set up a special account to receive compounding interest or do all regular savings accounts offer this? Where can I find an account with a good interest rate for my savings? Thanks.
    2007-12-29 10:16:22

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