WASHINGTON, June 14 — Delinquencies and foreclosures among homeowners with weak credit moved higher in the first quarter, particularly in California, Florida and other formerly hot real estate markets, according to an industry report released on Thursday.
The report, published by the Mortgage Bankers Association, came as the Federal Reserve held a hearing on what regulators could do to address aggressive abusive lending practices. Also Thursday, the latest survey showed that mortgage rates this week reached their highest level in almost a year; the national average for a 30-year mortgage was 6.74 percent, up from 6.53 percent last week, according to Freddie Mac, the mortgage giant.
Monday, June 18, 2007
Wednesday, June 06, 2007
After housing boom, glut may lead to bust in Spain
MADRID: Javier Usua and Ruth Graneda never got out of the car when they visited Sanchinarro and Las Tablas, two of Madrid's biggest new suburban developments. The concrete-block buildings and empty streets were all they needed to see.
"We came to look at apartments but found ghost towns," said Usua, a 27-year-old taxi driver. "You'd need to drive miles for a loaf of bread or cigarettes, and my girlfriend found it creepy and unsafe so we turned around and left."
"We came to look at apartments but found ghost towns," said Usua, a 27-year-old taxi driver. "You'd need to drive miles for a loaf of bread or cigarettes, and my girlfriend found it creepy and unsafe so we turned around and left."
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