The rate at which that amount is increasing each month is now a quarter its level in June last year, when total household debt was increasing by a whopping 1.2 per cent a month.
The growth rate has been declining since July last year but has been in freefall since February. The biggest slowdown was in [...]
Within 15 months of his last purchase in January 2007, he lost all 38 homes, including his own residence, through foreclosure because he’d stopped making mortgage payments. The foreclosures saddled his lenders — which were all out-of-state institutions — with more than $3.5 million in unpaid mortgage debt, according to Kalamazoo County records.
Hixon, 48, says [...]
Iceland’s central bank unexpectedly left its benchmark interest unchanged, six days after it obtained emergency funding from its Nordic counterparts to bolster the currency and quell inflation.
Sedlabanki kept the weekly lending rate at a record 15.5 percent, according to a statement on the Reykjavik-based bank’s Web site today. Three of 10 economists surveyed by Bloomberg [...]
The risk of Australian companies defaulting on their debt will stop a record plunge this year as the nation’s rising interest rates and slowing U.S. economy stoke concern that company profits will fall, UBS AG said.
Australia’s benchmark credit-default swap index, which comprises 25 companies including Qantas Airways Ltd. and Macquarie Group Ltd., has decreased as [...]
The hoped-for rebound in home sales failed to blossom this spring, with the housing market caught in a downward spiral as falling prices continue to sap consumer sentiment and keep would-be buyers on the sidelines.
The all-important sales season that unofficially kicks off after the Super Bowl again failed to lift the residential market out of [...]
Economic think-tank IEG has projected inflation easing to around 6.4 per cent within three months from 7.61 per cent at the moment, partly due to government’s fiscal measures and expected good rabi crops.
In its latest issue of monthly journal, Monthly Monitor, the Institute of Economic Growth (IEG) also predicted lending rates to remain stable despite [...]
The Canadian dollar fell nearly a cent Thursday in the wake of further evidence the domestic side of Canadian economy is cooling, with news of a deeper-than-expected drop in housing construction.
The dollar fell to 98.31 cents US from 99.30 cents Wednesday after the federal housing agency reported that construction starts fell 12 per cent in [...]
Sixteen years ago, developer Ian Bruce Eichner was forced to give his lenders the keys to his newly finished office tower in Times Square. The empty building, a symbol of one of the worst downturns in U.S. commercial real-estate history, ultimately cost his lenders and partners about $200 million.
Mr. Eichner, a slender, fast-talking New Yorker, [...]
Total assets were relatively unchanged at approximately $232.2 million at March 31, 2008 compared to approximately $231.4 million at December 31, 2007 and decreased from approximately $242.8 million at March 31, 2007, a decrease of $10.6 million, or 4.4%.
Total serviced loan portfolio decreased to approximately $312.5 million at March 31, 2008 from approximately $326.4 million [...]
-Drew Industries Incorporated (NYSE: DW) reported today its operating results for the first quarter ended March 31, 2008.
Drew, a leading supplier of components for recreational vehicles (RV) and manufactured homes, reported net income of $9.1 million, or $0.41 per diluted share, for the 2008 first quarter, a 5 percent decrease from net income of $9.6 [...]
