Mortgage Delinquencies Rise Nearly 62 Percent in First Quarter
While it s likely no longer surprising for many market participants, a report by consumer credit bureau TransUnion released Monday found that mortgage delinquencies had increased for the fifth straight quarter during Q1, while consumers managed to add to their overall mortgage debt load during the quarter as well. Borrowers more than 60 days in arrears on their mortgages hit a record high 3.23 percent for the first three months of 2008, TransUnion said that s up 8 percent over the previous
South Korea says could resume beef imports next week - Forbes
SEOUL (Reuters) - South Korea, which reworked an unpopular U.S. beef import deal that sparked mass street protests, could soon resume imports once a legal step has been completed, the trade minister said on Saturday. South Korea and the United States …
Newsweek Cover Story–The Economy: Why It s Worse Than You Think
The difficulties today start as they began last year with housing and housing-related credit. Last Thursday, the Mortgage Bankers Association quarterly report showed that the percentage of mortgage borrowers behind on their payments 6.35 percent was the highest since the MBA began tracking the number in 1979. It’s not just subprime. In the first quarter of 2008, 36 percent of all foreclosures initiated were on prime adjustable-rate mortgages in California. Mark Zandi, chief economist of Moody’s