WRAPUP 2-U.S. May factory growth slows, but housing strong Growth in the U.S. manufacturing sector slowed more than expected in May, hurt by a weak auto sector, igniting concerns about weakness in the broader economy, a report showed on
Citigroup Exits Wholesale Mortgage Business (TheStreet.com) Citigroup will reduce the number of outside mortgage brokers it does business with around the U.S. to 1,000 from about 9,500, according to reports.read more...
April mortgage lending slowest in 3 years-BBA (Reuters.co.uk) LONDON (Reuters) - Mortgage lending by banks slowed in April to its weakest pace in more than three years, the British Bankers' Association said on Friday, providing more evidence that
PMI to sell stake in mortgage company (Reg Req'd) The PMI Group Inc. has officially agreed to sell its outstanding stock in SPS Holding Corp., the parent of the controversial Select Portfolio Servicing Inc., to Credit Suisse First Boston
Jet-Set Debt Not sure how to buy Icelandic bonds? Managers at a fund like Julius Baer Total Return Bond will do it for you.via
Home Builders: Bust may last to 2011 "The upswing will be relatively slow, unlike earlier cycles." From Bloomberg: Home Construction Bust May Last Until 2011, U.S. Builders Say New home construction in the U.S. may take
Sales of new homes fell in February for the fourth straight month, pushing activity down to a 13-year low as the steep slump in housing continued.
The Commerce Department reported Wednesday that new home sales dropped 1.8 percent last month to a seasonally adjusted annual rate of 590,000 units, the slowest sales pace since February 1995. The decline was slightly worse than expected.
The median price of a home sold last month dropped to $244,100, down 2.7 percent from the level of a year ago. Read more
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