Mortgage and Financial News From 2008-5-29 Page 5
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Darling names ex-CBI chief Adair Turner to head City watchdog (Guardian Unlimited)
Turner appointed chairman of the FSA to replace Sir Callum McCarthy, who will step down in the autumn
2008-05-29 04:21:25 -
US Dollar Rally Extended As Growth, Rate Forecasts Lifted (Daily FX)
US Dollar Rally Extended As Growth, Rate Forecasts Lifted Conditions seem to be improving for the ailing US dollar. A strong showing from the economic docket, falling crude prices and a boost to interest rate expectations all helped to drive the greenback to its third consecutive rally today.
2008-05-29 04:21:33 -
Property Pain Past, Present And Future For U.S. Banks (Forbes)
The Federal Deposit Insurance Corp.'s latest Bank Quarterly Report details how hard the housing slump is hitting commercial banks and savings institutions.
2008-05-29 05:06:25 -
Working Dad: Rough times call for a tough family talk about money (Seattle Post-Intelligencer)
Gasoline prices are jumping, so is the cost of groceries. The old homestead isn't worth what it used to be. What's a family to do? Talk about it.
2008-05-29 05:15:56 -
Writedowns push CIBC to C$1.1 bln loss; stock falls (Reuters via Yahoo! News)
Canadian Imperial Bank of Commerce posted its second major quarterly loss in a row on Thursday on larger-than-expected charges of C$2.5 billion ($2.5 billion) for worsening structured-credit positions.
2008-05-29 05:41:10 -
Lose Homes, Pay More Tax (NYTimes.com via Yahoo! Finance)
Some of the biggest losers in the real estate slump are not purchasers of mansions they could not afford. They are buyers of second homes who are sitting on a tax time bomb.
2008-05-29 06:36:51 -
U.S. Stocks, Dollar, Treasury Yields Climb After GDP Report - Bloomberg
May 29 (Bloomberg) -- U.S. stocks rose for a third day, the dollar jumped to a three-month high against the yen and the 10- year Treasury note's yield climbed to the highest since December after a government report showed the U.S. economy grew more ...
2008-05-29 12:55:00 -
US 30-year mortgage rates rise this week - Reuters
WASHINGTON, May 29 (Reuters) - U.S. 30-year mortgage rates rose to an 11-week high this week, according to a survey released by home funding company Freddie Mac on Thursday. U.S. 30-year mortgage rates climbed to an average of 6.08 percent from 5.98 ...
2008-05-29 12:55:00 -
Negative equity fears soar after record slump in house prices (Times Online)
Thousands of homeowners were plunged into negative equity this month as house prices slumped by £5,000.
2008-05-29 02:05:37 -
Mortgage Rates Move Toward Recent Peaks (WCVB Boston)
Lenders are starting to charge more for home loans as they wonder what the Fed will do about inflation.
2008-05-29 02:10:48 -
Market's Bull Run Stalls As Growth Concerns Weigh On Rate Outlook (Daily FX)
The crippling credit crunch may be slowly easing its grip on financial markets; but the Fed will still have its hands full with deciding rates as fears of an economic downturn counter oppressive inflation trends.
2008-05-29 02:35:36 -
Survey: 69 Percent of Renters Plan to Continue Renting for up to 5 More Years (BuildingOnline)
ARLINGTON, VA -- A new survey commissioned by the National Apartment Association finds 67 percent of current renters will not make the move to buy their own home in the next year. Apartment occupancy is at an all-time high.
2008-05-29 03:50:42 -
Vice Chairman Donald L. Kohn (Federal Reserve Board)
Market participants, scholars, and central bankers and other policymakers have long recognized that liquid money markets are critical to financial stability.
2008-05-29 04:12:10 -
Average price of British home has fallen by £8,000 in past 12 months (Guardian Unlimited)
Longest and steepest decline in property market since crash of 1990s, says Nationwide
2008-05-29 04:16:44 -
Explainer: Property market (Guardian Unlimited)
Larry Elliott exposes some of the myths that have grown up around house prices
2008-05-29 04:30:11