New Home Sales Down
Sales of new homes dropped in July by the largest amount since February while the inventory of unsold homes climbed to a record high.
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Lehman scales back mortgage business (AP via Yahoo! News) Lehman Brothers Holdings Inc. said Thursday it is laying off 850 people as part of a global scale down of the investment bank's mortgage business.read more...
USA Commercial Mortgage Company Reports Progress in Chapter 11 Reorganization Efforts (PR Newswire via Yahoo! Finance) USA Commercial Mortgage Company today announced significant progress in the efforts made by USACM and its affiliated bankruptcy debtors to reorganize under Chapter 11 of the U.S. Bankruptcy Code
Housing Starts Down Nearly 20 Percent in Past Year The pace of U.S. home building fell more sharply than expected in August as builders broke ground on new homes at the slowest rate since April 2003, a government report
Higher rates pushing consumers to rethink home equity loans For Kim and James Merly, the home equity line of credit came in very handy -- it helped pay for their son's college education, a car and renovations of two
N&P introduces two new offset mortgage products (Banking Business Review) UK-based lender Norwich & Peterborough Building Society has announced that it is to launch two new offset tracker mortgage products to add to its existing line of products.read more...
For the week of July 3-July 9 A free home-buying seminar on what to know before buying a house. Learn the difference between 100 percent financing and 80/20 programs.via