Mortgage lenders’ distress gets a little bit deeper
The mortgage industry plunged deeper into distress this week as two lenders said sagging home prices and higher interest rates are pushing many borrowers into delinquency.
Comment
read more…
Caught in the Mortgage Spiral, FBR Triples Its 3rd-Quarter Loss (Washington Post) Friedman Billings Ramsey Group, the Washington area's largest investment bank, said its losses tripled in the third quarter compared with a year ago following declines in the mortgage market and
Possible loss of mortgage tax break brings worry (Norwich Bulletin) NORWICH -- Danny Yip of Norwich said Saturday he was "quite concerned" after learning his mortgage interest deduction may soon be greatly reduced.read more...
Home Sales Rose 3.4% Last Month Builders sold new homes at a faster rate last month than they did in October, shrinking the backlog of unsold homes on the market. read more...
City shows way on homes for key workers Manchester is leading the way in providing affordable housing for key workers who were previously unable to get a toehold on the property ladder, it has emerged.read more...
Credit Suisse cautious on US credit woes, reports strong profit gain "We saw it coming and anticipated it" A Credit Suisse bank logo is pictured in Bern, March 2006. Switzerland's second largest bank, Credit Suisse, has reported a 24 percent
Yield Curve Inverts Once Again. Existing Home Sales Fall Again... Stocks pulled back late after trading in a narrow range most of the session. The Nasdaq shed 0.5%, the S&P 500 0.3%, the small-cap 0.2% and the Dow 0.1%. Stocks