AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
THE ECONOMY.(TO THE POINT)
1-year adjustables at 8-year low
The adjustable-rate mortgage fell 2 basis points to 4.94% this week, Freddie Mac said. That's the lowest level since April '94. The benchmark 30-year fixed rate ticked down a point to 6.8%, remaining below the 7% level once again. The 15-year fixed rate was flat at 6.28%.
Chao: U.S. must relearn to save
Americans need to relearn how to save for the future in a world with rising life expectancies, new technology and shifting lifestyles, Labor Secretary Elaine Chao said. She told a retirement savings summit that Americans have an "instinct for saving." But they need more education and better advice, she said.
Fed chief Alan Greenspan says savings are key to growth. Savings must be sustainable and invested in a way to boost productivity, he said.
Banks had record profits in 2001
U.S. commercial banks earned $74.6 bil vs. $71 bil in '00, the Federal Deposit Insurance Corp. said. Gains on sales of securities offset weakness in core banking operations such as lending. In Q4 '01 bank profits rose to $19 bil, also a record. But FDIC Chairman Don Powell noted worrisome trends, including deteriorating asset quality and a jump in problem banks.
- S&P Affms Aviva PLC's GBP1.6 Bil Jun Sub Nts at 'A-'.
- Press release article from: Business Wire September 30, 2003 700+ words
...support its organic growth and manage its capital position." The notes consist of three tranches: GBP800 million of 6.125% fixed-rate perpetual reset subordinated notes; EUR500 million of 5.70% fixed- to floating-rate perpetual subordinated notes...
- S&P: Prelim Ratings to M'sFort Co.'s Y24 Bil Notes.
- Press release article from: PR Newswire February 3, 2000 700+ words
...Feb. 3 /PRNewswire/ -- Standard & Poor's has assigned its preliminary ratings to M'sFort Co.'s Y24 billion fixed-rate notes Classes A through E, which are backed by a high-scale residential property in Japan. The preliminary ratings are...
- S&: Prelim 'AAA' to Sparkle Funding's Y33.1 Bil Nts.
- Press release article from: Business Wire February 9, 2000 700+ words
...Sparkle Funding Corp.'s Y33.1 billion fixed-rate notes due April 2007. This is the first...notes are secured by Y33.1 billion of fixed-rate, asset-backed bonds issued by Sparkle Japan Funding Corp. The Y33.1 billion fixed-rate bonds, in turn, are secured by a senior...
- Prelim 'AAA' to PanPacific Funding Y47 Bil ABS.
- Press release article from: Business Wire October 6, 1999 700+ words
...finance companies. The Y47 billion notes are secured by Y47 billion of fixed-rate, asset-backed bonds due 2004 issued by Osaka Asset Funding Corp. The Y47 billion fixed-rate bonds, in turn, are secured by the senior beneficial interest in...
- S&P Asgns Rtgs to Daiwa Bank's -Y-28.86 Bil. RMBS Deal.
- Press release article from: Business Wire December 14, 2000 700+ words
...Maison) JPY28.86 billion class A through C mortgage-backed fixed-rate notes. The notes are ultimately backed by a pool of residential...Maison Capital Corp. JPY28.86 billion mortgage-backed fixed-rate notes Class Amount (JPY) Rating A1 18.00 billion AAA A2...
- S&PCORRECT: Prelim Rtgs for Daiwa Bk Y29 Bil RMBS Nts.
- Press release article from: Business Wire November 29, 2000 700+ words
...Corp.'s (Maison) JPY28.97 billion mortgage-backed fixed-rate notes, classes A through C. The notes are ultimately backed...Maison Capital Corp. JPY28.97 billion mortgage-backed fixed-rate notes Class Amount (JPY) Rating A1 18.10 billion AAA A2...
- Moody's: $1 Bil In CMBS in '05.
- Magazine article from: National Mortgage News February 7, 2005 700+ words
...agency expects to see more issuance of traditional conduits in 2005, after several years in which fusion deals dominated fixed-rate issuance. They also expect to see more investment grade upgrades than downgrades. In 2004, Moody's saw a continued growth...
- Countrywide Issues $1.1 Bil. B&C Deal.
- Magazine article from: National Mortgage News March 12, 2001 700+ words
...absorbs a significant amount of the risk associated with the underlying loans, reducing the risk to approximately that of a fixed-rate 'alternative-A' (credit) loan. "However, because the MGIC insurance constitutes a large share of the total credit...