Mortgage and Financial News From 2007-10-9 Page 15

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• Most fixed mortgage rates fell in September

  Reuters UK - The rise in funding costs on wholesale markets since mid-August has encouraged many lenders to raise their variable mortgage rates. Fixed-rate mortgages, however, are closely linked to the two-year swap rate which has fallen amid growing speculation ...
  2007-10-09 08:21:00

• UK plans on inheritance tax comes under fire from some quarters

  Forbes - The Council of Mortgage Lenders said the move is timely. CML director general Michael Coogan said: 'With the estates of married couples now exempt up to 600,000 stg rising to 700,000 stg by 2010, the effect is broadly the same as if the Chancellor had ...
  2007-10-09 11:05:00

• MORTGAGE LENDERS Bankruptcy News, Issue No. 18

  PR Inside - A copy of today's newsletter can be purchased on-line with a major credit card at ecommerce.bankrupt.com/bin/ibl_re?co_name=MORTGAGE|LENDERS for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand. MORTGAGE ...
  2007-10-09 06:05:00

• Thornburg Raises Loss Estimate From Mortgage Sales (Update4)

  Bloomberg - Founded in 1993 by Chief Executive Officer Garrett Thornburg, the company has survived a mortgage-industry credit crunch that forced more than 100 lenders to close operations, file for bankruptcy or put themselves up for sale since the beginning of ...
  2007-10-09 10:15:00

• A Second Look: Sovereign Bancorp

  Forbes - Plus, Sovereign lent $20 million to mortgage lenders that are now bankrupt. Sovereign's stock initially gained on the news, but fell more than 3 percent Monday and an additional 25 cents to $16.91 Tuesday. The stock is now down 2.8 percent since the ...
  2007-10-09 10:37:00

• Analysis: Mortgage lending

  Times Online - The latest mortgage figures from the Council of Mortgage Lenders (CML), revealed that gross mortgage lending was virtually static at £34billion in August, compared with £34.1billion in July. And it was only £1billion higher than August last year ...
  2007-10-09 05:57:00

• Monthly mortgage repayments hit 15-year high

  Daily Telegraph - ... out a mortgage in August is having to use 18·2 per cent of its pre-tax income to pay the interest on a mortgage, up from 17·9 per cent in July and the highest level for 15 years, according to the figures published by the Council of Mortgage Lenders ...
  2007-10-09 10:58:00

• Thornburg Raises Loss Estimate From Mortgage Sales (Update4) (Bloomberg.com)

  Oct. 9 (Bloomberg) -- Thornburg Mortgage Inc., the Santa Fe, New Mexico-based lender, boosted its loss estimate to $1.1 billion from selling bonds backed by adjustable-rate home loans as rising defaults eroded demand for the securities.
  2007-10-09 09:55:20

• Sector Snap: Mortgage Companies (AP via Yahoo! Finance)

  Shares of Thornburg Mortgage led a mostly down day Tuesday among mortgage stocks, after the company said its third quarter losses would be higher than originally anticipated.
  2007-10-09 11:04:49

• (AFX UK Focus) 2007-10-09 13:03 GMT: UK gross mortgage lending remains strong in Aug, driven by buy-to-let - CML (Interactive Investor)

  LONDON (Thomson Financial) - UK mortgage lending remained strong in August, with gross lending at 34 bln stg against 34.1 bln in July, final figures from the Council of Mortgage Lenders showed.
  2007-10-09 05:26:49

• Mortgage group lighter on hardship (Daily Telegraph)

  THE Mortgage and Finance Association of Australia (MFAA) has introduced measures to encourage non-bank lenders, mortgage managers and brokers to assist borrowers in financial difficulty.
  2007-10-08 09:51:00

• Buy-to-let landlords keep mortgage market afloat (Guardian Unlimited)

  Mortgage lending in August reached £34bn, buoyed by heavy demand from landlords, figures showed today. Total lending was £1bn higher than in August despite an 11% fall in the value of lending for house purchases and a 12% fall in remortgages, the Council of Mortgage Lenders (CML) said.
  2007-10-09 03:35:45

• PBR: Darling to incentivise lenders to promote fixed-rate mortgages (Money Marketing Online)

  Chancellor Alistair Darling has announced the Government will incentivise mortgage lenders to increase the take up of fixed-rate loans and encourage them to increase terms from two years to 10 years or more.
  2007-10-09 09:33:24

• Fixed rate mortgage plans welcomed (FT.com via Yahoo! News)

  The mortgage industry on Tuesday gave a cautious welcome to the chancellor's proposals to help lenders provide more long-term fixed rate mortgages.
  2007-10-09 10:55:14

• US STOCKS-Market flat before Fed minutes, earnings

  Reuters - Investors are hoping the minutes from the Sept. 18 gathering, which will be released at 2 p.m. (1800 GMT), will provide clues on whether more Fed interest rate cuts might be coming. Also helping to limit gains were financial stocks, which lost ground ...
  2007-10-09 10:44:00

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