Countrywide merger criticized, BoA names mortgage exec (Reuters via Yahoo! News) Bank of America Corp on Thursday said Countrywide Financial Corp's second- highest ranking executive will run its mortgage business, and a large Countrywide investor said it opposes the bank's
Interest rate rise doesn't raise eyebrows THE Reserve Bank may still have some room to move on interest rates, with a new survey showing almost 60 per cent of people were not overly concerned or worried
U.S. Construction Spending Declines 1 Percent, Led by Drop in Homebuilding Construction spending in the U.S. fell by the most in five years in October, led by a plunge in home- building, a government report showed.Commentread more...
Taking their chances Glancing over at the charred remains of the Lakeland house adjacent to the one he was working on Saturday, all Yves Bourgoin could do was shake his head in disgust.read
IndyMac Swings to Loss on Mortgage Woes (NYTimes.com via Yahoo! Finance) The mortgage lender posted a fourth-quarter loss of $509.1 million as it raised its loan-loss provisions to account for growing defaults and foreclosures.read more...
Freddie Mac to tighten mortgage standards Mortgage giant Freddie Mac said Tuesday it will no longer buy those high-risk home mortgages that it deems the most vulnerable to foreclosure.Commentread more...
The amount home owners are spending on their mortgage stayed on a level during June as a result of the cooling housing market. Homeowners in England and Wales spent 18.5% of their take-home pay on mortgage repayments during the month, say figures from the Woolwich bank.
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