By TARA SIEGEL BERNARD : If you are a prospective home buyer waiting for the bottom of the housing market, there is another fact you need to take into account: mortgage rates are rising.
Rates on a 30-year fixed-rate loan, which were as low as 5.89 percent in mid-April, have been climbing and now remain near […]
Posted on August 9th, 2008 by admin
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By VIKAS BAJAJ : The first wave of Americans to default on their home mortgages appears to be cresting, but a second, far larger one is quickly building.
Homeowners with good credit are falling behind on their payments in growing numbers, even as the problems with mortgages made to people with weak, or subprime, credit are […]
Posted on August 4th, 2008 by admin
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By PETER S. GOODMAN : Banks struggling to recover from multibillion-dollar losses on real estate are curtailing loans to American businesses, depriving even healthy companies of money for expansion and hiring.
Two vital forms of credit used by companies — commercial and industrial loans from banks, and short-term “commercial paper” not backed by collateral — collectively […]
Posted on July 28th, 2008 by admin
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By ERIC DASH : On Wall Street, the run is on.
Bank stocks spun wildly on Tuesday in another bruising day for financial companies. Goaded by bearish analysts, investors seem to be abandoning American banks in droves.
While a fraction of the nation’s banks are expected to buckle under their growing burden of bad loans, federal regulators, […]
Posted on July 16th, 2008 by admin
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By VIKAS BAJAJ and JENNY ANDERSON
An investigation into the mortgage crisis by New York State prosecutors is now focusing on whether Wall Street banks withheld crucial information about the risks posed by investments linked to subprime loans.
Reports commissioned by the banks raised red flags about high-risk loans known as exceptions, which failed to meet […]
Posted on January 12th, 2008 by admin
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By David S. Hilzenrath
The Washington Post
WASHINGTON - For a glimpse of the risks that infected the mortgage business in recent years, consider a small slice of what happened at Freddie Mac, the giant home-loan investor chartered by the government to bring stability to the housing market.
Before the era of easy credit, home buyers were ordinarily […]
Posted on December 11th, 2007 by admin
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