Finance counsels

Australian home-loan approvals fell in March to the lowest level in almost three years, reinforcing the central bank's view that the highest borrowing costs since 1996 are slowing the economy.
The number of loans granted to people to build or buy homes or apartments dropped 6.1 percent to 59,371, the lowest since August, 2005, […]

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President George W. Bush, meeting with South Korea's Lee Myung Bak, said he'll push for congressional approval of a free-trade agreement between the two allies and vowed to maintain pressure on North Korea to dismantle its nuclear-weapons program.
“The Korea free-trade agreement is a priority for this administration, and we will press hard with […]

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The Bank of Israel expects to intervene in the foreign currency market only in “rare'' circumstances, Governor Stanley Fischer said, days after its first such action in more than a decade.
It will do so only to stabilize the market and won't target a particular shekel exchange rate, Fischer told a news conference today […]

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Shares of Toronto-Dominion Bank slumped Monday on speculation that the lender had substantial undeclared exposure to the subprime mortgage mess, a notion the bank staunchly denies.
Toronto-Dominion Chief Executive Officer Ed Clark has spent the past few months reminding anybody who will listen that his bank has avoided the subprime debacle, but a rumor swept through […]

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PATERSON, NJ-The Community Preservation Corp., a not-for-profit mortgage lender, has provided New Horizon Joint Venture with a $1.8-million loan to develop six low-income, two-family homes in the fourth ward here. The homes will be located on three vacant sites on Summer St., Hamilton St. and 12th Ave. The sites are close to Paterson’s downtown business […]

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The federal government and several large mortgage lenders have a plan to freeze loan rates for certain subprime borrowers. The Wall Street Journal writes that ‘The Bush administration and major financial institutions are close to agreeing on a plan that would temporarily freeze interest rates on certain troubled subprime home loans.”
Among the financial institution […]

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Canadians are passionate about their plastic money but still love the feel of cold, hard cash, according to a report from the Bank of Canada.
More than a decade after speculating that Canada was becoming a “cashless society,” the central bank says demand for banknotes continues to grow in this country. And that’s got the bank […]

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