Flippers and other speculators investing in single-family homes helped drive up prices in many hot housing markets during the boom, they’re now contributing heavily to mortgage delinquencies in several of those markets, according to a report released by the Mortgage
Delinquencies hit 5.12 % of all outstanding mortgages in the second quarter, up from 4.39 percent a year ago according to the Mortgage Bankers Association (MBA) quarterly survey. The loans actually entering foreclosure proceedings stood at 0.65 %, a rise
According to CNNMoney.com, the upcoming fourth quarter is the make-or-break period for the retail industry and the path leading to the crucial holiday season is peppered with land mines. As much as 50 % of merchants’ annual profits and sales
Asian stocks fell Thursday morning, battered by persistent jitters over U.S. housing loan problems and their possible damage to global financial markets. The benchmark Nikkei 225 index lost 2.6 % on the Tokyo Stock Exchange in the morning session, and