Mortgage and Financial News From 2007-9-30 Page 15
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The price of a weak dollar
Chicago Sun-Times - Federal Reserve to cut its benchmark interest rate by a bigger-than-expected half point to 4.75 percent. The central bank's rate move was intended to stem the economic fallout caused by recent financial turbulence. It ended up creating another worry ...
2007-09-30 01:50:00 -
Fed makes first slash in 4 years to key interest rate
Lansing State Journal - WASHINGTON - In a bold strike, the Federal Reserve slashed a key interest rate by a half point on Tuesday - the first cut in over four years. It also left the door open to further relief to prevent a painful housing slump and jarring credit crunch ...
2007-09-29 10:01:00 -
Budget Surplus May Lead to Lower Taxes
The Ledger - Canada's central bank might have to shift gears for its monetary policy as the result of U.S. interest rate cuts and the soaring Canadian dollar. Bank of Canada Governor David Dodge said "gauging the effects" of the changing conditions will be one of ...
2007-09-30 02:55:00 -
He's not kidding
Chicago Sun-Times - ... on their economic luck that includes a $99 account setup fee, an $89 program participation fee, a $49 annual fee, a $120 annual account maintenance fee, a $30 authorized user fee and a $25 fee for each $100 credit limit increase. The interest rate is ...
2007-09-30 03:16:00 -
Fed cuts key interest rate
Lansing State Journal - WASHINGTON - The Federal Reserve cut a key interest rate for the first time in four years this afternoon. Policymakers hope an aggressive half-point reduction will prevent a steep housing slump and turbulent financial markets from triggering a ...
2007-09-29 10:01:00 -
Fed rate cut draws FII funds
Economic Times - The US Federal Reserve cut the benchmark interest rate by a larger-than-expected 50 basis points (0.50 percent) recently. The Federal Reserve lowered its benchmark federal funds target rate by 50 basis points to 4.75 percent to avert any slowdown in ...
2007-09-29 11:27:00 -
Next move in UK interest rates 'must clearly be down' - BCC
Forbes - The Bank of England's Monetary Policy Committee (MPC) is scheduled to announce its monthly interest rate decision on Thursday. It is widely expected to leave rates on hold at 5.75 pct, although there is now a growing consensus the Bank of England ...
2007-09-29 05:08:00 -
Fed's rate cut can't pull home builder stocks out of free fall
San Francisco Gate - Because fixed-rate mortgages tend to follow long-term interest rates, an increase in long-term rates usually hurts home builders. Last week, a number of the largest builders reported abysmal earnings. Industry giant Lennar reported the biggest ...
2007-09-30 01:50:00 -
Choosing Funds in the Rate Cut's Shadow
Wall Street Journal - A slew of exchange-traded funds may offer some comfort to investors who see a dark side to the Federal Reserve's recent interest-rate cut. While the stock market generally cheered, for some investors, the Fed's decision to slash rates sparked fears ...
2007-09-29 08:28:00 -
SBI to lower housing loan rate, offer festival discount
Zee News - New Delhi, Sept 30: Hoping that RBI will bring down interest rates in its upcoming policy review, state bank of India today said it could give discount to new housing credit seekers in the festival season and might cut home loan rates. "If it ...
2007-09-30 01:07:00 -
Time to research interest rates
Arizona Daily Star - With Treasury yields down significantly in recent months, the interest-rate landscape has been changing. That means consumers should at least consider whether they could get better deals as a lender — in certificates of deposit and money-market ...
2007-09-29 11:56:00 -
Dollar sinks as US data favours interest rate cut
Gulf News - The US dollar continued to be on the backfoot last week as the euro kept touching fresh highs against the dollar. The greenback was pulled down by weak US economic data that bolstered market expectations of more rate cuts by the Fed to shore up the ...
2007-09-30 01:22:00 -
Lenders pressing grads: Consolidate
Newsday - Wait until July, and there's a chance you may get an even lower interest rate for the life of the loan. Zhanna Goltser, financial aid director at the College of Notre Dame of Maryland, says a student recently approached her for advice. The student's ...
2007-09-30 01:07:00 -
Will rate cut be good for the U.S.?
Portsmouth Herald - The recent half point interest rate cut by the Federal Open Market Committee came as a surprise to most market watchers. Prior to the Sept. 18 meeting, Fed officials had seemed to be more concerned about inflation than they were about the subprime ...
2007-09-30 02:55:00 -
Time to research interest rates (Arizona Daily Star)
With Treasury yields down significantly in recent months, the interest-rate landscape has been changing. That means consumers should at least consider whether they could get better deals as a lender — in certificates of deposit and money-market accounts — or as a borrower, with improved loan or credit terms.
2007-09-30 12:19:24