Mortgage and Financial News From 2008-4-29 Page 7
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BoE says no need for gloom, UK home loans fall - Guardian Unlimited
LONDON, April 29 (Reuters) - The number of new home loans from British mortgage lenders fell to a record low in March, but Bank of England Governor Mervyn King said on Tuesday there was no need for "doom and gloom" about the economy. Speaking to ...
2008-04-29 07:47:00 -
Stocks Pull Back On Consumer Confidence Report (CBS 2 Los Angeles)
Wall Street pulled back Tuesday after a disappointing reading on consumer sentiment suggested that inflation is taking a toll on the U.S. economy.
2008-04-29 10:26:05 -
Stocks slip as Merck sinks, consumer confidence weak (EARTHtimes.org)
NEW YORK (Reuters) - Stocks declined on Tuesday after regulators rejected a key new drug from Merck & Co Inc, a Dow component and a pharmaceuticals bellwether, and a survey showed a sharp drop in consumer confidence.
2008-04-29 10:33:18 -
Deutsche Bank Reports Quarterly Loss (NYTimes.com via Yahoo! Finance)
The biggest German lender reported a net loss of 141 million euros and warned of continuing turbulence in financial markets.
2008-04-29 10:37:07 -
Consumer confidence drops in April on inflation, job worries - Soaring gas prices and weaker job prospects made ... (The San Francisco Examiner)
Countrywide loses $893 million in 1Q on rising loss reserve 2 hrs 40 mins ago - Countrywide Financial Corp., the nation's largest mortgage lender and servicer, said Tuesday it lost $893 million during the first quarter due to a sharp increase in its provision to gird against unpaid home mortgage loans amid a deepening housing downturn.
2008-04-29 10:40:14 -
Owned homes sit empty; rate hits record high in Q1 (USA Today)
The share of U.S. homes owned but sitting empty edged up in the first quarter to a record high 2.9%, the U.S. Census Bureau said Monday.
2008-04-29 10:40:21 -
Number of homes facing foreclosure more than doubles (The World)
LOS ANGELES — The number of U.S. homes heading toward foreclosure more than doubled in the first quarter from a year earlier, as weakening property values and tighter lending left many homeowners powerless to prevent homes from being auctioned to the highest bidder, a research firm said Monday.
2008-04-29 10:44:02 -
Advertisement starts (Tiscali)
Shell and BP profits jump on record oil price Oil giants Royal Dutch Shell and BP beat forecasts with big rises in first-quarter profits on Tuesday, lifting shares across the sector, as investors bet oil prices above $100/barrel would be an even bigger bonanza for the industry than expected.
2008-04-29 10:48:39 -
(AFX UK Focus) 2008-04-29 18:49 Stocks fall as investors wary of consumer data, Fed decision (Interactive Investor)
NEW YORK (AP) - Wall Street pulled back Tuesday as investors, disappointed by a low reading on consumer sentiment, traded cautiously ahead of the Federal Reserve's Wednesday decision on interest rates.
2008-04-29 10:52:12 -
Dollar gains on euro limited by gloomy US data (TurkishPress.com)
A gathering rebound by the dollar against the euro lost steam Tuesday as the US unit faced selling pressure on news of another decline in US consumer confidence.
2008-04-29 10:56:14 -
Bonds, Stocks Show Bernanke Fixing Financial System (Update2) - Bloomberg
April 29 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke is persuading investors that the financial markets are working again. The Standard & Poor's 500 Index gained 8.4 percent since the central bank backed the purchase of Bear Stearns Cos ...
2008-04-29 06:00:00 -
Number of homebuyers hits record low - Guardian Unlimited
The number of mortgages taken out to fund house purchases reached a record low in March as uncertainty about the housing market and the ongoing credit crunch continued to take their toll, figures showed today. The Bank of England said 64,000 loans ...
2008-04-29 07:55:00 -
GMAC 1Q loss widens on declining auto finance income - Boston Globe
NEW YORK— GMAC Financial Services said Tuesday its first-quarter loss widened as its automotive finance business weakened -- though results improved slightly in its struggling mortgage operations. GMAC is majority owned by private equity firm ...
2008-04-29 08:37:00 -
Countrywide posts $893 mln loss as bad loans soar - Forbes
NEW YORK (Reuters) - Countrywide Financial Corp (nyse: CFC - news - people ) , the largest U.S. mortgage lender, posted a surprisingly large $893.1 million first-quarter loss Tuesday, taking more than $3 billion of charges for write-downs and bad ...
2008-04-29 08:30:00 -
GMAC posts loss on mortgage woes - Reuters
NEW YORK (Reuters) - Finance company GMAC said on Tuesday its first-quarter loss nearly doubled as more customers fell behind on mortgage payments, and warned that it might not be profitable until well into 2009, later than expected. The loss ...
2008-04-29 08:45:00