Applications for U.S. home mortgages jumped to their highest level in nearly four years as low interest rates led more homeowners to seek refinancing, according to data from an industry group on Wednesday.
Countrywide Financial's fourth-quarter results, scheduled for release on Tuesday, will be closely scrutinized for what they show about the declining U.S. housing market, and what they mean for Bank of America, which is buying the nation's largest mortgage lender.
A Federal Reserve official and a state secretary warned Thursday the slowdown in the U.S. economy was quickening, because of weak housing prices, falling stock prices and rising energy costs.
Singapore's biggest sovereign wealth fund said on Wednesday its large investments in banks Citigroup and UBS are unique at a time of financial turmoil and did not represent a strategy shift.
British house prices fell in December at their fastest rate since the recession of the early 1990s, a survey showed on Wednesday, raising fears the country's once buoyant housing market is heading for a sharp downturn.
German lender Hypo Real Estate proposed slashing its 2007 dividend by two-thirds after it took a 390 million-euro ($580 million) hit on U.S. debt investments and posted a net trading loss.
Property development work in the UK shrank for a second month in December, posting its biggest fall in at least four years and 9 months as tumbling commercial property values hit builder sentiment, data showed on Friday.
Applications for U.S. home mortgages jumped to their highest in a month last week as concerns about economic recession pushed interest rates to their lowest in more than two years, an industry group said Wednesday.