Mortgage and Financial News From 2007-9-13 Page 7

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  • IMF warns on rate rises (Daily Telegraph)

    THE International Monetary Fund (IMF) has warned the Reserve Bank of Australia (RBA) that it should tread carefully on future interest rate decisions given recent global financial market turbulence.
    2007-09-12 09:33:00
  • Bank of England's King stalls interest rate change (Times Online Sunday)

    Mervyn King, the Governor of the Bank of England, has given a clear signal that an interest rate rise is off the table as long as the financial crisis continues.
    2007-09-12 05:20:58
  • BOJ May Keep Rate Unchanged After Economy Shrinks, Abe Quits (Bloomberg.com)

    Sept. 14 (Bloomberg) -- The Bank of Japan will probably keep interest rates unchanged next week after Prime Minister Shinzo Abe resigned and the economy shrank in the second quarter.
    2007-09-13 04:31:55
  • How a rate cut could affect you

    CNN Money - NEW YORK (CNNMoney.com) -- All eyes are on the Federal Reserve and whether or not it will cut rates next week. If you're looking for a loan, wondering whether to refinance or just anxious about real estate, here's how to play the Fed's decision in ...
    2007-09-13 01:02:00
  • Fed can't stop recession

    CNN Money - But others say a rate cut won't solve the problem for those who have been paying low teaser rates on their mortgages with the expectations that they would be able to refinance before rates reset. The fact that investors no longer are willing to buy ...
    2007-09-13 01:02:00
  • Northern Rock at four-year low on credit fears

    Times Online - Rock was trading down at 646p, a level it has not reached since 2003, on fears that it may be forced to issue a profit warning since it cannot refinance its mortgage loans in the wholesale market. A&L was down at 930p. The FTSE 100 as a whole showed ...
    2007-09-13 02:28:00
  • Countrywide Shares Gain on $12 Billion Borrowing Deal (Update3)

    Bloomberg - The association's index of applications to buy a home or refinance a loan rose 5.5 percent last week. Some economists say the report overstates activity because the survey only includes retail lenders, which have probably seen an increase in business ...
    2007-09-13 01:23:00
  • Q&A: The future of Northern Rock

    Daily Telegraph - Analysts estimate it would have to raise £10bn and refinance a further £8bn in the next year in order to meet its growth targets. How has Northern Rock got caught up in the US sub-prime crisis? The crisis in the US sub-prime mortgage market, which ...
    2007-09-13 03:54:00
  • Bank throws Northern Rock funding lifeline

    Financial Times - The bank made its decision because it faced pressure to refinance obligations, including mortgage-backed securities that will mature in the next couple of weeks. Northern Rock executives are expected to say on Friday that it will try to trade through ...
    2007-09-13 03:32:00
  • Northern Rock falls on fears of profit warning

    Times Online - Northern, at one stage down 7 per cent or 50½p is seen as particularly vulnerable since it must refinance its loans on teh asset-backed debt market which has frozen in the credit crisis. There was talk that Dave Jones, the finance director, had ...
    2007-09-13 04:37:00
  • Four Seasons groundbreaking expected in fall

    MSN MoneyCentral - Barclays is providing a loan to refinance the Cairn fund's asset-backed commercial paper as it matures. Without the loan, Cairn would have had to sell some of its investments. Clothing manufacturer Grupo Denim of Mexico City also is providing ...
    2007-09-13 02:35:00
  • Moody's Completes $300 Million Private Placement of Senior Unsecured ...

    Forbes - The funds will be used primarily to refinance a portion of the bank debt incurred for general corporate purposes, including financing of the company's continuing share repurchase program. As announced previously, Moody's plans to return capital to ...
    2007-09-13 02:49:00
  • Yen Gains on Report U.K. Home Lender Sought Emergency Funding

    Bloomberg - The yen has strengthened against all 16 most-active currencies the past two months as borrowers have struggled to refinance debt after lending rates surged. ``Northern Rock isn't a small company and it caused another round of risk aversion ...
    2007-09-13 03:32:00
  • Moody's wraps $300M notes placement

    Boston Globe - NEW YORK -- Debt-rating agency Moody's Corp. said Thursday it completed a $300 million private placement of senior unsecured notes due 2017. Proceeds will be used mainly to refinance part of bank debt incurred for general corporate purposes ...
    2007-09-13 03:39:00
  • IBC Requests Extension of Exclusivity

    Forbes - ... facility as amended and restated; the ability of the Company to obtain court approval with respect to motions in the Chapter 11 proceeding filed by it from time to time; the ability of the Company to negotiate an extension (if necessary) or refinance ...
    2007-09-13 04:15:00