Mortgage and Financial News From 2008-5-22 Page 9

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• Iceland rates left steady, some see no more hikes - Guardian Unlimited

  STOCKHOLM, May 22 (Reuters) - Iceland's central bank left its key interest rate at 15.5 percent on Thursday, defying expectations it would raise borrowing costs again to shore up a shaky currency. Many economists had expected a rate rise as the ...
  2008-05-22 03:10:00

• Dollar Edges Higher but Growth Concerns Remain - CNBC

  In its April meeting minutes, the Fed also lifted its inflation forecast and suggested it had finished cutting rates after cutting them to 2 percent last month.
  2008-05-22 05:33:00

• Oil prices pass $134 after US report of a drop in inventories (Memphis Commercial Appeal)

  Oil prices bolted to a new record above $134 a barrel Wednesday after the U.S. government reported that stockpiles of crude oil and gasoline fell unexpectedly last week.
  2008-05-22 06:16:34

• FOREX-Dollar edges up but recovery looks fragile (Reuters via Yahoo! Singapore News)

  * Dollar gains as US jobless claims fall
  2008-05-22 06:20:16

• Oil Rises Above $135 on Concern OPEC Is Powerless to Halt Rally (Bloomberg.com)

  May 22 (Bloomberg) -- Crude oil rose to a record above $135 a barrel as OPEC ministers said they could do nothing to stop a rally that may be heading to $200 a barrel.
  2008-05-22 06:32:45

• Weekly jobless claims fall unexpectedly (MSNBC)

  The number of newly laid off workers filing for unemployment benefits unexpectedly fell last week to the lowest level in a month.
  2008-05-22 06:35:50

• Jobless Claims Drop to Lowest Level in 4 Weeks (NYTimes.com via Yahoo! Finance)

  Even with the unexpected decline, claims remain at a level that indicates the labor market is under stress from the sluggish economy.
  2008-05-22 06:37:38

• London afternoon: Footsie falls into the red (ShareCast)

  LONDON (SHARECAST) - Footsie is now well into the red with investors nervy ahead of the US opening bell after the Fed's gloomy comments yesterday.
  2008-05-22 06:38:14

• Inflation, rates to track Indonesian fuel prices higher: officials (AFP via Yahoo! News)

  Indonesians were facing runaway inflation and higher interest rates Thursday after the government vowed to hike subsidised fuel prices by an average 28.7 percent despite widespread protests.
  2008-05-22 06:38:20

• 50 Plus! What's all This Talk about Reverse Mortgage? - Oakland Press

  Janine and Don Burzynski of Troy took out a reverse mortgage in the summer of 2007, to help them pay their property taxes, liquidate $25,000 dollars in medical bills for Janine's two hip replacements, and pay off their credit card debt. "It's so ...
  2008-05-22 04:21:00

• Credit crunch hits lending at Britain's Nationwide - Guardian Unlimited

  LONDON, May 22 (Reuters) - Britain's largest building society Nationwide saw a 40 percent drop in home loans over the past year and its market share shrank, as the credit crunch forced it to rely on savings to fund mortgage lending. Nationwide, which ...
  2008-05-22 01:15:00

• Foreclosure forecast grim - San Diego Union-Tribune

  Nearly 50 San Diego County dwellings per day were lost to foreclosure in April, as the tally of mortgage failures rose 169 percent above last year, DataQuick Information Systems reported yesterday. Buckling under the weight of risky adjustable-rate ...
  2008-05-22 02:12:00

• MOZILO'S HEARTLESS E-MAIL - New York Post

  The founder of beleaguered mortgage provider Countrywide Financial Corp. - known for his large salary and deep tan - stepped in it again this week when he accidentally hit "reply to all" to an e-mail sent to him and other bank execs from a troubled ...
  2008-05-22 12:39:00

• Mistakes You Should Avoid in Buying a Home in Sarasota Real Estate (Turks.US)

  Purchasing a home is a stressful process for people since it is the largest purchase of your life. Here are some mistakes that you can avoid in order to eliminate stress.
  2008-05-22 03:19:53

• New bank in Oradell off to a good start (The Star-Ledger)

  Many banks are struggling with bad loans in a slowed economy, and it's hard to lure deposits with low short-term rates and tough competition. Still, the president of recently opened Freedom Bank in Oradell says it's not a bad time to start a new bank, according to a report in The Record.
  2008-05-22 05:05:44

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