Real estate revival on (distant) horizon
It’s likely to get worse before it gets better but growing demand could spell the beginning of a recovery in home values.
read more…
Mortgage firms weather storm (BizJournals) The tightening of credit for home buyers and the subsequent drop-off in home sales is hurting many residential mortgage lenders, but the market downturn hasn't gotten to the point of
UK mortgage approvals slump (Financial Times) Mortgage approval numbers collapsed in May, figures from the Bank of England showed on Monday, giving confirmation of the speed with which conditions in the UK housing market have deteriorated.read
Tougher Rules Urged For Mortgage Lenders (CBS News) Treasury Secretary Henry Paulson said stronger regulatory oversight of mortgage lenders is needed to avert a credit crisis. But Wall Street found little solace in his comments: the Dow Jones
What a Week: Clouds Part The stock market's climb this week suggests that investors may be seeing the clouds part after a three-week-long bout of volatility.Commentread more...
Local bank 'believes' in NEPA Citizens Bank is expanding a line of bank programs aimed at community revitalization in Northeastern Pennsylvania, with plans to open up $27 million in funding for low-interest loans.read more...
Yen rises amid fears over US mortgage market (FT.com via Yahoo! News) The yen climbed on Tuesday amid concerns that problems in the US subprime mortgage market could spill over into the wider economy.read more...