Mortgages News

LONDON (AFX) - US SUMMARY: Stocks plunge on subprime mortgage woes; oil, dollar down Index Points change Pct change DJIA 12075.96 -242.66 -1.97 NASDAQ 2350.57 -51.72 -2.15 S&P 500 1377.95 -28.65 -2.04 Dow Future 12091.00 -222.00 -1.80 (1623 ET) Nasdaq Future 17 ...

SYDNEY (XFN-ASIA) - Share prices closed sharply down as investor sentiment plunged after US shares overnight experienced their second largest sell-off this year, sparked by concerns that rising defaults within the US sub-prime mortgage market could spill over into the wider economy, dealers said. Heavy selling occurred within local banking stocks and the resources sector, fuelled by base metals f ...

Tue 13th Mar 2007 Increasing numbers of first-time buyers are taking out fixed-rate mortgages in order to counteract the threat of interest rate rises. Research carried out by the Council of Mortgage Lenders (CML) in January shows that 85 per cent of people investing in bricks and mortar for the first time in January chose a fixed-rate product - the highest figure ever recorded. Among a ...

LONDON (AFX) - Leading shares in London closed lower Tuesday hit by heavy falls on Wall Street while rumours of a potential problem at a London based hedge fund offset news of a significant stake build at Cadbury Schweppes, dealers said. By the close, the FTSE 100 finished down 72.1 points at 6,161.2, its session low having hit an earlier high of 6,240.7. The broader indices were also lower. Vol ...

LONDON (AFX) - The dollar remained weak against major currencies after earlier disappointing US retail sales data sparked worries about a slowdown in US consumer spending. The figures showed US retail sales rose by just 0.1 pct in February from January, well below forecasts for a 0.3 pct increase, causing the euro to rise above the 1.32 usd mark for the first time since March 3. "Today's mo ...

(updating with full details) LONDON (AFX) - Leading shares in London closed lower Tuesday hit by heavy falls on Wall Street while rumours of a potential problem at a London based hedge fund offset news of a significant stake build at Cadbury Schweppes, dealers said. By the close, the FTSE 100 finished down 72.1 points at 6,161.2, its session low having hit an earlier high of 6,240.7. The broader ...

LONDON (AFX) - European government bonds remained higher as investors continued to seek the safety of bonds on worries that weakness in the US sub-prime mortgage market may spread to the rest of the economy. After news that sub-prime mortgage lenders in the US were nearing bankruptcy or under stress from bad debts, equities have fallen and risk assumptions in the global markets have risen. &quot ...

WASHINGTON (AP) - Late mortgage payments shot up to a 3 1/2-year high in the final quarter of last year and new foreclosures surged to a record high as borrowers with tarnished credit histories had trouble keeping up with their monthly payments. The Mortgage Bankers Association, in its quarterly snapshot of the mortgage market released Tuesday, reported that the percentage of payments that were 3 ...

WASHINGTON (AP) - Late mortgage payments shot up to a 3 1/2-year high in the final quarter of last year and new foreclosures surged to a record high as borrowers with tarnished credit histories had trouble keeping up with their monthly payments. The Mortgage Bankers Association, in its quarterly snapshot of the mortgage market released Tuesday, reported that the percentage of payments that were 3 ...

US markets regulator the Securities & Exchange Commission is investigating troubled sub-prime mortgage lender New Century, the firm has revealed. New Century has stopped making loans and its shares have tumbled, with some analysts now predicting bankruptcy. The firm also said it had received a grand jury subpoena for documents. Sub-prime lenders provide money to clients with a poor credit history, and the current problems have been sparked by a rise in defaults and bad loans. These, in tu ...