Mortgage and Financial News From 2008-7-11 Page 9

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• Stocks See Continued Selling Pressure In Afternoon Trading - U.S. Commentary (INO News)

  (RTTNews) - Selling pressure remains on Wall Street in early afternoon trading on Friday, as record oil prices as well as considerable weakness in the financial sector continue to weigh in on the markets.
  2008-07-11 09:47:19

• Fannie and Freddie bailout would imperil budget and dollar (Reuters via Yahoo! UK & Ireland News)

  Fannie Mae and Freddie Mac's rapid slide into the centre of the global financial crisis has Wall Street frantically talking about a possible government takeover of the government-sponsored mortgage agencies.
  2008-07-11 09:50:00

• (AFX UK Focus) 2008-07-11 17:36 Milan shares close lower on U.S. finance sector woes, oil prices UPDATE (Interactive Investor)

  (Updating with full report)
  2008-07-11 10:01:10

• Wall Street Feels the Fannie Effect (New York Times)

  Jitters about the solvency of Fannie Mae and Freddie Mac , two government-sponsored mortgage financing companies, took a big toll on financial-industry stocks Friday.
  2008-07-11 10:27:18

• Shares of Lehman Brothers Take a Beating (NYTimes.com via Yahoo! Finance)

  Investors fretted over problems at home-loan giants Fannie Mae and Freddie Mac and absorbed regulators’ statements that they would not bail out all financial institutions.
  2008-07-11 10:36:25

• Lehman Shares Dragged Down by Fannie, Freddie Concern (Update2) (Bloomberg.com)

  July 11 (Bloomberg) -- Lehman Brothers Holdings Inc ., once the biggest U.S. underwriter of mortgage bonds, fell the most since the firm went public in 1994 on speculation home loan- financing companies Freddie Mac and Fannie Mae might fail.
  2008-07-11 10:41:50

• You're already paying for Fannie and Freddie (CNN Money)

  The fate of Fannie Mae and Freddie Mac may be hanging in the balance but many mortgage borrowers already find themselves struggling to find affordable loans - and the legislation intended to help current homeowners may be jeopardized too.
  2008-07-11 10:58:43

• GE Second-Quarter Profit Meets Estimates; Sales Rise (Update3) - Bloomberg

  July 11 (Bloomberg) -- General Electric Co. , stung by a surprise slump in the year's first three months, posted second- quarter earnings that matched analysts' estimates on increased demand for power-plant turbines, jet engines and commercial loans ...
  2008-07-11 06:35:00

• Double trouble to hit home in mortgage belt - Farm Weekly

  THE Commonwealth Bank has delivered a double dose of bad news to home loan borrowers - raising interest rates and declaring there may be more pain to come. Australia's biggest mortgage lender said yesterday it would raise rates by 0.14 percentage ...
  2008-07-11 06:57:00

• Two more banks raise home mortgage rates - Age

  THE Commonwealth and ANZ banks have followed St George and BankWest by increasing their variable home loan interest rates independently of the Reserve Bank. The Commonwealth, Australia's biggest lender, yesterday blamed higher funding costs for its ...
  2008-07-11 06:57:00

• U.K. Bonds Gain as Fannie Mae, Iran Spur `Flight to Quality' - Bloomberg

  July 11 (Bloomberg) -- U.K. government notes advanced as concern U.S. mortgage lenders Fannie Mae and Freddie Mac don't have enough capital and speculation Israel is preparing to attack Iran drove investors to the safest assets. ``Bonds are driven ...
  2008-07-11 05:31:00

• GE to Raise Over $5.4 billion Through Japan Sale (BusinessWeek)

  Critics think Shinsei Bank's bid to buy the electronics giant's Japanese consumer finance business is a risky move, but GE could use the cash
  2008-07-11 08:46:43

• European Stocks Fall to Three-Year Low; Volkswagen Declines (Bloomberg.com)

  July 11 (Bloomberg) -- European stocks fell, sending the Dow Jones Stoxx 600 Index to a three-year low, as record oil hurt automakers and airlines and concern deepened Fannie Mae and Freddie Mac are short of capital. The MSCI World Index and the U.K.'s FTSE 100 Index entered bear markets today.
  2008-07-11 08:53:26

• Paulson: No bail out for mortgage giants (KGO-TV Bay Area)

  Paulson said the government will leave Fannie Mae and Freddie Mac intact.
  2008-07-11 08:56:04

• Watch Out For This Mortgage Blunder (The Motley Fool)

  Early repayment charges can be a huge price to pay for changing your mind. Here's what to look out for.
  2008-07-11 09:08:57

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