Applications for U.S. home mortgages jumped last week as a drop in interest rates fueled demand for refinancings, though purchases tumbled, an industry group said on Wednesday.
Spanish banks' borrowing from the European Central Bank almost doubled in March from February to 316.3 billion euros ($415.9 billion). The question whether Spanish banks need to be recapitalized hangs over the sector like the sword of Damocles.
Tuesday, 10 Apr 2012 | Source: The Associated Press
The proposed rules require mortgage servicers to give all borrowers standardized monthly statements and warn borrowers about interest rate or insurance changes.
Some of the world’s biggest banks are trying to extend the principles of securitization to the plain-vanilla world of trade finance – a market worth an estimated $10 trillion a year – as concern mounts that regulatory changes could constrain a key lubricant of the global economy. The Financial Times reports.
Credit rating agencies are sparring in public over new ratings as they seek to enhance reputations damaged during the financial crisis. The Financial Times reports.
The pace of job creation rose far less than expected in March, with the U.S. economy generating 120,000 new positions. The unemployment rate fell to 8.2 percent.
Timely repayments improved on all 11 of the consumer loan categories tracked by the American Bankers Association in the final quarter of last year, the first time that has happened since 2004, according to the organization's chief economist.
Applications for U.S. home mortgages gained last week after seven straight weeks of declines, helped by a jump in purchase demand as interest rates retreated, an industry group said on Wednesday.
With home prices down more than a third from their peak and the market swamped with foreclosures, large investors are salivating at the opportunity to buy perhaps thousands of homes at deep discounts and fill them with tenants. The New York Times reports.
While the entry-level homebuyers market is making a comeback in Boston, high-end luxury properties are once again the object of bidding wars in New York, with demand outpacing supply for the first time in five years.
What if a college did not spend its resources on sports stadiums? What if it quit the competitive "arms race" and did not build climbing walls and multimillion dollar student unions? What if a college did not spend its students’ resources on top "name brand" researchers, who undergraduates rarely see? In fact, what if there was no faculty tenure at all? ... Read More