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Credit

Bad News for Banks: Troubled mortgages hit record high

For more than 616,000 familys there are few green shoots to see, their  loans were hit with foreclosure actions in the first 3 months of the year, the Mortgage Bankers Association reports.
NEW YORK (CNNMoney.com) — Despite all the hand-wringing and attempts to contain the foreclosure plague, the problem still spread during the first three months of [...]

Monument Securities – Hoping against hope

 
LONDON (Dow Jones)–The S&P Case-Shiller index of home prices in twenty US metropolitan areas fell by 2.2% between January and February this year, according to data released yesterday. That was hardly a sign of stabilization in the housing sector.
Nevertheless, the financial markets took comfort from a fall in the year-on-year rate of decline in this [...]

Read More » No commentApril 29, 2009