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The Subprime Auto Loan Meltdown Is Here
The Subprime Auto Loan Meltdown Is Here Uh oh – here we go again. Do you remember the subprime mortgage meltdown during the last financial crisis? Well, now a similar thing is happening with auto loans. The auto industry has been doing better than many other areas of the economy in recent years, but this […]
Signs of Mortgage Meltdown in Australia
Signs of Mortgage Meltdown in Australia “Not a question of if but when there will be a mortgage crisis.” Real estate is local – until it isn’t. Cities have their own housing bubbles that implode on their own time. But once contagion spreads to mortgages and banks and infects confidence of real estate investors and […]
Jingle mail rears its ugly head in Alberta again
Jingle mail rears its ugly head in Alberta again Federal government worried about Albertans making strategic defaults on their mortgages This tiny hamlet south of Calgary has 27 homes for sale for more than $1 million. (Colin Hall/CBC) One of the big bads from the 1980s is starting to emerge again in Alberta. Jingle mail — the […]
Meridian credit union offers 1-year mortgage at 1.69%
Meridian credit union offers 1-year mortgage at 1.69% Spring mortgage wars start early, as member-owned lender makes new low offer to homebuyers Meridian credit union just offered a one-year mortgage at 1.69 per cent. (Daniel Munoz/Reuters) Alternative lender Meridian has launched the first shot in the spring mortgage wars with a one-year fixed mortgage rate […]
The Oil Crash Of 2016 Has The Big Banks Running Scared
The Oil Crash Of 2016 Has The Big Banks Running Scared Last time around it was subprime mortgages, but this time it is oil that is playing a starring role in a global financial crisis. Since the start of 2015, 42 North American oil companies have filed for bankruptcy, 130,000 good paying energy jobs have been lost in the […]
The Echo Bubble in Housing Is About to Pop
The Echo Bubble in Housing Is About to Pop And here’s the knife in the heart of the Echo Housing bubble: declining household income. The Federal Reserve-induced Echo Housing Bubble is finally starting to roll over, and the bubble’s pop won’t be pretty. Why is the bubble finally popping now? All the factors that inflated the […]
Largest “Alternative” Mortgage Lender in Canada Plunges, Denies “Systemic Problem” in Housing Market
Largest “Alternative” Mortgage Lender in Canada Plunges, Denies “Systemic Problem” in Housing Market Home Capital Group, Canada’s largest non-bank mortgage lender, focuses on “alternative” mortgages, as they’re called euphemistically, that is high-profit mortgages to risky borrowers with dented credit or unreliable incomes, such as self-employed folks or new immigrants, who don’t qualify for mortgage insurance […]
Shadow mortgage lending on the rise as house prices soar
Shadow mortgage lending on the rise as house prices soar Shadow lending represents about 4 to 5 per cent of Canada’s mortgage market Canada’s housing boom is increasingly driving homebuyers to seek mortgages from private lenders, who demand rates that can be more than five times higher than those charged by the nation’s banks. Canadian […]
Hidden In Fannie and Freddie
Hidden In Fannie and Freddie With another financial crisis fast approaching the cause of the ‘08 crash hasn’t been settled. Austrians generally line up on the side of the all-powerful Fed having lowering interest rates below what the market would produce, sending capital into malinvestments: In this case, too many subdivisions of houses and other […]
Mortgage approvals fall to 17-month low in November | Money | The Guardian
Mortgage approvals fall to 17-month low in November | Money | The Guardian. The number of mortgages approved for house purchases fell to a 17-month low in November, in a further sign of a housing market slowdown in the autumn. A total of 59,029 home loans were approved for purchases during the month, according to […]
