BOE's Besley Says Higher Mortgage Costs Hurt Household Spending (Bloomberg.com) Aug. 18 (Bloomberg) -- Bank of England policy maker Timothy Besley said that consumption suffers as banks widen their margins on mortgage lending, according to a paper published today.read more...
Bank raises interest rates new Householders were left reeling today after the Bank of England raised interest rates to 4.75 per cent.read more...
Dorm to reopen, but who pays tab? A UIC dorm shuttered because of mold and water damage will reopen to students next month, but deciding who will pay for the cleanup is now the subject of a
Former Officer Charged with Soliciting Teen read more...
Housing Starts in U.S. Decline 2.5 Percent to Lowest in Almost Two Years Home construction in the U.S. dropped last month to the lowest level in almost two years after higher mortgage rates slowed sales and left builders with bloated inventories. read more...
Mortgage muddle (Reg Req'd) Angelo Mozilo has been in the mortgage business for more than 50 years. His Countrywide Financial Corp.via
General Electric expects to report a 950 million-dollar loss for the first nine months of 2007 at its subprime mortgage unit that it plans to close, a spokesman for the conglomerate said Wednesday.
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