Mortgage and Financial News From 2008-7-30 Page 01
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ADP Points To Better Jobs Situation Than Thought - Forbes
Wall Street doesn't seem to mind the ADP report's shaky reliability. U.S. companies gained 9,000 jobs in July, according to the ADP National Employment Report, well above the market expectation of 50,000 to 60,000 jobs lost for the month. ADP, a ...
2008-07-30 02:48:00 -
Negative equity threat to 1.7 million properties (Independent)
The spectre of negative equity on a scale not seen since the housing crash of the early 1990s is about to haunt the nation again, with unknowable but certainly dramatic political and economic consequences.
2008-07-30 04:34:36 -
Mortgage industry still can't keep up (The Wilmington Star-News)
Washington | The mortgageindustry says the pace of its efforts to help struggling borrowers rose in June, but still is not keeping up with rising foreclosures.
2008-07-30 05:36:23 -
The Cost of Socialism (GoldSeek.com)
Over the past few decades, the United States has steadily evolved from a nation of ‘producers’ to one of ‘consumers’. The change has been celebrated by politicians and economists as proof of America ’s arrival at the top of the global economic food chain.
2008-07-30 05:36:56 -
(AFX UK Focus) 2008-07-31 04:32 WRAPUP 1-Australians slash spending, fuel rate-cut fever (Interactive Investor)
SYDNEY, July 31 (Reuters) - Australian retail sales took their biggest fall in six years in June, stirring fears the economy was slowing far more rapidly than policy-makers had planned and fanning talk of early cuts in interest rates.
2008-07-30 09:01:06 -
Business briefing, July 31 (Rocky Mountain News)
Nissan North America Inc. said Wednesday it will offer buyouts to about 6,000 employees at the company's two Tennessee plants and eliminate a night shift at one plant because rising fuel prices and the economic downturn have slowed sales of trucks and sport utility vehicles.
2008-07-30 09:08:55 -
Take action quickly to avoid foreclosure, agency advises (Edwardsville Journal)
Homeowners facing the possibility of losing their home need to take action as soon as possible. And there is help available.
2008-07-30 10:54:52 -
Fall in HBOS profits expected - MSN UK News
Halifax Bank of Scotland is expected to reveal further credit crunch pain in its half-year figures amid fears that profits have plummeted by more than half. The embattled banking group is forecast to show profits plunging to £1.3 billion or even ...
2008-07-30 08:24:00 -
The Limits on Mortgage Relief - Wall Street Journal
If you are hoping for mortgage relief under the new Hope for Homeowners Act, here's another factor that you and your lender will have to work into your numbers. The effective interest rate on new mortgages made under the law is on track to exceed 8 ...
2008-07-30 04:50:00 -
Mortgage industry still can't keep up - Star News Online
industry says the pace of its efforts to help struggling borrowers rose in June, but still is not keeping up with rising foreclosures. Hope Now, an industry group backed by the Bush administration to help stem the mortgage crisis, says about 181,000 ...
2008-07-30 05:47:00 -
Adelaide resists national housing price tumble - News.com.au
ADELAIDE is the sole capital city bucking a national trend of sliding property values - but the outlook next year is grim, latest figures show. Australian house prices fell in a majority of capital cities in the last few months as high interest rates ...
2008-07-30 08:32:00 -
Banks profits to rise with rates - News.com.au
THE big banks are set to raise profit margins to levels not seen since the 1990s by hiking rates and refusing to pass on any interest cuts predicted for this year or next. Ralph Norris, the boss of the Commonwealth Bank (nab.ASX: Quote , News ), has ...
2008-07-30 03:38:00 -
Australian Retail Sales Fall Most in Six Years as Lending Cools (Bloomberg.com)
July 31 (Bloomberg) -- Australian retail sales fell by the most in six years, stoking speculation central bank Governor Glenn Stevens will be forced to cut 12-year high interest rates.
2008-07-30 09:17:41 -
Australia Facing `Once-in-100-Year' Housing Slump (Update1) (Bloomberg.com)
July 31 (Bloomberg) -- Australia may be headed for a housing recession similar to those roiling the U.S. and U.K. The cause is a combination of rising default rates, the biggest drop in home prices in five years, the highest borrowing costs in a decade and slowing economic growth.
2008-07-30 09:19:22 -
Business Briefs (The Post and Courier)
NEW YORK — Stocks seesawed to a higher close Wednesday, rallying in the last hour of trading on a rebound in financial stocks and optimism about jobs while brushing off a sharp jump in oil prices.
2008-07-30 09:36:56