In a sign of worsening lending conditions, a British bank announced today it had stopped granting mortgages for UAE apartments and is now requiring a 50 per cent down payment for villas, a spokesman said.
“Due to exceptional global market conditions, Lloyds TSB Middle East has altered some aspects of its mortgage product offering,” the spokesman [...]
WASHINGTON (AP) – Oct. 23, 2008 – Lawmakers have called key players from the past and present to congressional hearings in an effort to find out what caused the biggest U.S. financial crisis since the 1930s and determine how the government plans to get the country out of the mess.
Alan Greenspan, the chairman of the [...]
Shockwaves from the financial crisis are rippling through Sweden’s housing market, resulting in falling prices and accelerating the already slowing pace of new construction.
The slump in housing prices between July and September has been felt primarily by owners of apartments rather than houses, and for people living in the Stockholm area.
According to a survey by [...]
Confidence among U.S. homebuilders slid in October to the lowest level since record-keeping began in 1985, a sign the crisis in credit markets may deepen the worst housing recession in a generation.
The National Association of Home Builders/Wells Fargo index of builder confidence decreased to 14, less than forecast, from 17 in September, the Washington-based association [...]
The Canadian government moved to shore up the nation’s banks by taking on some of their mortgages in a bid to ease higher borrowing costs that have crippled lending. Toronto-Dominion Bank and Bank of Nova Scotia responded by cutting their prime rates.
Canada Mortgage and Housing Corp., a government-run agency, will buy as much as C$25 [...]
The US government would snap up 300 billion dollars of bad home loans, Republican John McCain vowed Tuesday unveiling a new plan to help struggling homeowners if he is elected president.
“People are no longer able to afford their mortgage payments,” said McCain as he laid out what he billed as an original proposal for addressing [...]
Home foreclosures in Stamford Connecticut remained low compared withother cities hit by the subprime mortgage crisis, but they more than doubled over the past year, according to the mayor’s office.
Foreclosures increased in each of the past four quarters, rising from 15 in the final quarter of last year to 39 in the third quarter this [...]