Mortgage and Financial News From 2008-6-26 Page 7

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• Difficulty ahead for developers (Otago Daily Times)

  Property developers, particularly those involved with residential projects, would find money harder to come by as cash from finance companies and banks dried up, Myles Wealth Management director Craig Myles said yesterday.
  2008-06-26 10:10:36

• Housing bill stalls in U.S. Senate through holiday (Canada.com)

  The U.S. Senate will not resume consideration of a major housing market rescue bill until after it returns in early July from its Independence Day recess, lawmakers and aides said Thursday.
  2008-06-26 10:27:37

• The best way to beat rising prices (WTVM 9 Columbus)

  There's nothing gourmet about scrambled eggs and toast. But with the cost of eggs up 30% from a year ago, the price of bread up 16%, and the milk to wash it down up 15%, you'd better be serving breakfast on a silver platter.
  2008-06-26 10:59:47

• German Import Prices Rose The Most In Almost 18 Years, Will Trichet ... - DailyFx

  Jun 26 - German Import Prices Rose The Most In Almost 18 Years, Will Trichet Raise Rates? Jun 25 - Japanese Exports Surprisingly Strong On Asian Demand Jun 24 - U.K. Mortgage Approvals Decline to Lowest Level since May 1997 Jun 23 - Euro, Pound Slip ...
  2008-06-26 03:54:00

• King Sees `Weak' Housing Market in Britain, Higher Inflation (Bloomberg.com)

  June 26 (Bloomberg) -- Bank of England Governor Mervyn King said the housing market will be ``extremely weak'' and that policy makers won't ``overreact'' to record inflation, suggesting they are in no rush to increase interest rates.
  2008-06-26 06:56:28

• U.S. house sales rose in May (International Herald Tribune)

  The median price of previously owned homes dropped 6.3 percent from May last year.
  2008-06-26 07:16:47

• U.S. Economy: Home Resales Climb as Prices Decline (Update1) (Bloomberg.com)

  June 26 (Bloomberg) -- Sales of previously owned homes in the U.S. rose in May from the lowest level in at least nine years as a slide in prices lured some buyers into the market.
  2008-06-26 09:19:32

• European Stocks Drop; Fortis, Carrefour, Adidas Lead Decline (Bloomberg.com)

  June 26 (Bloomberg) -- European stocks fell the most in three months on concern credit losses will reduce bank earnings, while slowing economic growth curbs profits for retailers.
  2008-06-26 09:26:28

• When Central Bankers Clash, Stock Markets can Crash (Kitco.com)

  Hyper-inflation in the commodities markets is rivaling the US housing collapse and the global banking crisis, as the biggest threat to the world economy.
  2008-06-26 09:52:10

• Experts tell how to deal with mortgage crisis - CNN

  LOS ANGELES, California (CNN) -- With foreclosures and bankruptcy affecting millions of homeowners, CNN's Larry King on Tuesday talked to several experts in the real estate industry to get advice on handling the mortgage meltdown. Barbara Corcoran ...
  2008-06-23 05:55:00

• Mortgage crimes - Frederick News-Post

  The subprime mortgage meltdown was due in part to poor government oversight of the mortgage/real estate industry. The rules for lending money were lax and lenders and borrowers alike were ready, willing and able to loan and borrow money in ...
  2008-06-25 10:53:00

• MORE THAN 400 DEFENDANTS CHARGED FOR ROLES IN MORTGAGE FRAUD - Sitnews

  WASHINGTON ­ The Department of Justice and Federal Bureau of Investigation (FBI) have announced a national takedown of mortgage fraud schemes, the culmination of substantial coordinated efforts during the last three and a half months to identify ...
  2008-06-25 01:21:00

• Three get probation in mortgage fraud scam involving Katheryn Shields - Kansas City Star

  A federal judge sentenced a Kansas City, Kan., couple and a former Lee’s Summit real estate appraiser to probation Wednesday for their roles in a high-profile mortgage fraud scam. All three defendants had pleaded guilty and cooperated in the ...
  2008-06-24 05:54:00

• High-interest loan deals double as rising cost of living takes toll (Evening Standard)

  The number of people resorting to expensive loans to tide them over until they are paid has more than doubled during the past nine months, figures showed today.
  2008-06-26 07:52:56

• Mortgages: U.S. mortgage rates rise: Freddie Mac (Market Watch)

  Mortgage rates drifted up this week, with adjustable-rate mortgages climbing the most, Freddie Mac reported on Thursday.
  2008-06-26 07:53:07

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