Major lender raises mortgage rates (Channel 4) HSBC became the first of the major lenders to announce it was hiking its mortgage rates following the recent jump in wholesale funding costs. The group is increasing its fixed-rate
D.C.-area house market welcomes lull Strong federal spending and job growth has made the Washington, D.C., area one of the hottest U.S. housing markets, but there are some signs of a return to normalcy: the
Providian shareholders approve sale to Washington Mutual Providian Financial Corp.'s shareholders on Wednesday accepted Washington Mutual Inc.'s $6.5 billion takeover bid, brushing aside concerns that one of the nation's last independent credit-card lenders could ...read more...
Jittery City urges investors not to panic, as mortgage lenders put squeeze on homeowners (Independent) The turmoil on the financial markets has hit British homebuyers and property owners with floating mortgages. They now face a rise in their borrowing costs after mortgage providers rushed to
HSBC to close US subprime mortgage unit (AFP via Yahoo! News) HSBC Holdings, the British-based banking giant, announced Friday it will close its subprime mortgage subsidiary in the United States, saying it was "no longer sustainable."read more...
Home-equity ebb tide The signs are as subtle as quartz countertops versus expensive granite, but the red-hot home-equity cash machine that for years has boosted household spending -- and the U.S. economy --
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