Rates on money-market funds attractive again For example, consumer-loan specialist HSBC Bank was paying 4.8 percent on money-market accounts this week. For its part, Continental Bank, a
Spiraling housing costs hurting Americans The American dream of having a job and owning a tidy home is becoming a fantasy for more people.via
Mortgage defaults double in Sacramento county (BizJournals) Sacramento and Placer counties were among five California counties in which mortgage defaults more than doubled in the second quarter.read more...
Mortgage insurers reporting big losses (The News Journal) WASHINGTON -- Large mortgage insurers have reported $2.6 billion in losses so far this year, sparking fears that rising foreclosure rates could force the industry into a money crunch and
How hot is your housing market? Full coverage How hot is your housing market? New-home sales reached their second-highest level in history in May.via
Getting a Mortgage with Bad Credit (Southwest Daily News) (ARA) - Having bad credit is not the end of the world and it's not impossible to get a loan. Generally, credit scores below 600 are considered sub-prime and the
“Not all details of the plan have been communicated to the (European) Commission”
The European Commission opened an investigation Wednesday into Britain’s nationalization of Northern Rock PLC, the mortgage bank that collapsed at the beginning of the global credit crisis.
Neelie Kroes, the EU antitrust chief, said a broad look at how the British government plans to save Northern Rock was merited given the financial market turmoil, the sizable amount of money involved and the risk of an unfair advantage over other banks.
‘The commission needs to open a formal investigation into U.K. measures to restructure Northern Rock to ensure legal certainty,’ Kroes said in a statement. Read more
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