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• Banks that pocket rate cuts face tougher action (Independent)
  Gordon Brown urged the banks to pass on the full benefit of yesterday's surprise 1.5 per cent cut in interest rates to mortgage-holders and small businesses. His call came as Labour MPs called for legislation to force banks to lower their mortgage rates in line with rate reductions by the Bank of England to ensure that the impact of the downturn is softened and people who need it most get help.



• How the interest rate cut could affect us (icWales)
  Nigel John, managing director of Hern & Crabtree estate and letting agents, based in Cardiff, said: ?The rate cut could be amazing news for the housing market as long as the mortgage lenders pass on the reduction in the cost of borrowing.



• What rate cuts mean for you (Independent)
  The Bank of England cut interest rates to their lowest level in more than 50 years this week ? in a bid to stop Britain slipping into a deep and lengthy recession. For anyone lucky enough to have a tracker mortgage, this was great news ? as their monthly mortgage payments will now drop by tens or even hundreds of pounds next month.



• How Will The Rate Cut Affect Your Mortgage? (The Motley Fool)
  What does the cut mean for borrowers and what?s going on with trackers?



• Jobless rate jumps to highest since '94 (Denver Post)
  The nation's unemployment rate bolted to a 14-year high of 6.5 percent in October as another 240,000 jobs were cut, far worse than economists expected and stark proof the economy is deteriorating at an alarmingly rapid pace.



• Companies cutting jobs early in current slump (The Columbus Dispatch)
  Steven Ridenhour knows how to build a car. But after the Chrysler plant where he worked for 15 years in suburban St. Louis shut down last week, Ridenhour has little else to show on his resume.



• Perpetual reopens income/mortgage funds (The West Australian)
  Fund manager Perpetual Ltd has re-opened applications for its income and mortgage funds at the request of a number of clients.

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