Santander bids for UK mortgage lender (AP via Yahoo! News) Spanish banking giant Banco Santander said Monday it has agreed to buy the British mortgage lender Alliance & Leicester PLC in a deal valued at $2.5 billion.read more...
9 On Your Side: How Sell Your House In A Buyer's Market "Today, it's 'location, price and condition.' But price is moving to the forefront." Last Update: 5:05 pm Reported by: Brendan Keefe Photographed by: Anthony Mirones, Michael Mattingly Web produced
New home construction down in August Total housing starts for August in New Brunswick's urban centres exceeded last year's levels.read more...
Subprime Mortgage Risk Rises for a Fifth Week, Derivatives Show (Bloomberg.com) Feb. 23 (Bloomberg) -- The perceived risk of owning low- rated subprime mortgage bonds rose again, heading for the fifth straight weekly increase, as companies that lend to the riskiest
Selling at a Loss? Here's What to Expect From the IRS. It's a homeowner's worst nightmare: selling a home at a loss. Sadly, with the real estate market slowing, more folks are discovering that, yes, this can actually happen. read
'Shonky methods' in loan sales HOME loan marketers are posing as representatives of the peak mortgage industry body as first-home buyers retreat in the face of higher interest rates and competition among lenders intensifies. read
“Rising prices at the gas pump continue to play a key role in dampening consumers’ short-term expectations.”
Sales of existing homes plunged in March by the largest amount in nearly two decades, reflecting bad weather and increasing problems in the subprime mortgage market, a real estate trade group reported Tuesday.
The National Association of Realtors reported that sales of existing homes fell by 8.4 percent in March, compared to February. It was the biggest one-month decline since a 12.6 percent drop in January 1989, another period of recession conditions in housing. The drop left sales in March at a seasonally adjusted annual rate of 6.12 million units, the slowest pace since June 2003. Read more
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