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Financial Stocks: FDIC report, rising mortgage rates hit banks

0 Comments Published May 28th, 2009 in News.

U.S. financial stocks surrender early gains as concern about rising mortgage rates spreads from the bond market to banks, and a quarterly Federal Deposit Insurance Corp. report shows an industry straining.

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« Consumer Banking: New credit-card law may be boon for credit unions
Foreclosures break another record in first quarter »
This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

Mortgage Lender Implode-o-Meter






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