Mortgage and Financial News From 2008-6-24 Page 2
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Consumer Confidence Plummets - Wall Street Journal
American consumers, battered by falling home prices and soaring gasoline prices, are at their gloomiest in decades, raising fears they might cut back on spending later this year and tip the economy into a recession. Consumer confidence plunged in ...
2008-06-24 06:22:00 -
Losing to Spain doesn't stop Italians thinking they're best - Daily Telegraph
Last Sunday, when Spain dumped Italy out of the Euro 2008, the only sound in Rome's piazzas was a gentle twitter of denial. "Well, we may have lost that match, but we are still Campioni del Mondo, World Champions!" was the gist of it. Italy's team ...
2008-06-24 05:40:00 -
Monet painting smashes record - Reuters UK
LONDON (Reuters) - A Monet water-lily painting sold for 41 million pounds Tuesday, doubling the previous auction record for the artist and ensuring London's key art market season got off to a flying start. "Le Bassin aux Nympheas" had been expected ...
2008-06-24 08:10:00 -
MPs to outline expenses changes - BBC UK News
Six MPs have considered options such as a "top-up" payment of more than £20,000 to replace the second homes allowance. MPs will vote on options next week. A "root and branch" review was launched after a row over Tory MP Derek Conway, who paid his ...
2008-06-24 05:11:00 -
Free counseling aims to prevent foreclosures, educate homeowners - AZCentral.com
Failure to pay the mortgage bill triggers a grim seven-month process that gathers power and momentum with each passing day. Sometimes it cannot be stopped, foreclosure-prevention counselor Tim Hensley said, but delinquent borrowers who become active ...
2008-06-24 08:31:00 -
Fixed-rate home loans hit 10-year high - Daily Telegraph
The cost of two-year fixed-rate mortgages has reached a 10-year high, new figures have disclosed. The average rate of the popular home loan is now above seven per cent. It was less than five per cent before the global credit crisis. Over the past ...
2008-06-24 06:37:00 -
M.D.C. Holdings Announces 2008 Second Quarter Earnings Release ... - MSN MoneyCentral
DENVER, June 24 /PRNewswire-FirstCall/ -- M.D.C. Holdings, Inc. MDC will release its 2008 second quarter earnings before market open on Thursday, July 31, 2008 and will host a teleconference the same day at 10:00 am ET. The live teleconference will ...
2008-06-24 03:02:00 -
Now we know this is a real property crash - Daily Telegraph
Even the gloomiest commentators have been taken by surprise by the relentless flow of bad news about the property market. Every week seems to bring another dismal statistic. But if ever confirmation were needed that this is no longer a housing ...
2008-06-24 06:37:00 -
Tough economy: Only bright side may be cleaner air - Salt Lake Tribune
Only a cockeyed optimist can find a silver lining in $4 gasoline and the collapse of Utah's new-home construction industry. But, in the interest of keeping people's spirits up, we will offer this: The air quality on the Wasatch Front might improve a ...
2008-06-24 05:54:00 -
Fitch Upgrades DLJ 1998-CG1 - Earthtimes
--$66.5 million class B-4 to 'AA' from 'AA-'; --$15.6 million class B-5 to 'A+' from 'A'; --$27.4 million class B-6 to 'BBB-' from 'BB+'. Fitch also affirms the following classes: Interest-only class S at 'AAA'; --$53.5 million class B-1 at 'AAA ...
2008-06-24 12:17:00 -
Senate Advances $300 Bil Mortgage-Rescue Measure (Investor's Business Daily via Yahoo! Finance)
A government plan to take on up to $300 billion in distressed mortgages advanced in the Senate on Tuesday with overwhelming support.
2008-06-24 03:58:03 -
The big meltdown: how Britain's metal is being stolen to fuel China's industrial growth (Guardian Unlimited)
Britain is experiencing an epidemic of raw material thefts, from lead on church roofs to bronze. Aida Edemariam reports
2008-06-24 04:21:14 -
Fed stymied on rates by price rises and faltering economy (Independent)
The Federal Reserve began its two-day meeting to decide on the next move for US interest rates, amid some of the worst consumer confidence and house-price data on record.
2008-06-24 05:03:47 -
Hard times are back, and so are the fraudsters (Daily Telegraph)
House prices are moving from the loft to the basement. Last year's "crisis", with an estimated shortfall of 4m homes, has morphed into a very different kind of problem: plenty of properties on the market but no buyers. The prospect of negative equity is biting into consumer confidence.
2008-06-24 05:38:32 -
U.S. Real Estate Prices Fall to 2004 Levels (The New York Sun)
While the New York City real estate market has managed to avoid price cuts, the nationwide market has dropped to pre-boom 2004 levels, a closely watched housing index shows. "We've erased the last four years of gains," a vice president of index analysis at Standard & Poor's, Maureen Maitland, said. "Home prices are still falling, and the pace of the decline does not seem to be abating." The ...
2008-06-24 06:25:45