| Mortgage crisis paralyses US markets
NEW YORK - The US mortgage meltdown broadened this morning (NZT), led by Accredited Home Lenders Holding and New Century Financial Corporation, as investors feared that the subprime lenders, which make loans to people with poor credit histories, would run out of cash. Concern that the crisis could spread to more mainstream lenders and worsen the US housing slowdown rippled through broader markets, pushing the Dow Jones industrial average down more than 200 points. Tuesdays decliners included shares of major Wall Street lenders, commercial lenders and thrifts that have exposure to the mortgage sector, such as Bear Stearns, Countrywide Financial Corporation, JPMorgan Chase and Washington Mutual Inc. Major stock indexes declined as investors flocked to assets they considered safer.
CT CAPITAL, Florida Hard Money Lender offers short term bridge ...
/24-7PressRelease/ - FORT LAUDERDALE, FL, March 16, 2007 - CT Capital offers bridge loans for non-conforming, residential (non-owner occupied) and commercial real estate projects. We are a hard money lender working directly with the public. As a licensed Florida Mortgage Lender we review, accept, fund and service our own loans. Institutionally backed, CT Capital is able to offer rates & terms that are unavailable to other lenders. This vast funding capability enables us to provide funding immediately. CT Capital is located in Fort Lauderdale, Florida and serves brokers and borrowers across the state. As a direct lender and seasoned real estate investor, we offer many services which others are unable to provide. .
Northern Rock chipper on UK mortgage market
Mortgage lender Northern Rock delivered an upbeat assessment of the UK property sector's prospects for growth in 2007. Releasing a trading statement covering the three months to March 31st, the company predicted that Britain's gross mortgage market would increase from 345 billion in 2006 to at least 360 billion in 2007. Its claims reject suggestions that overall activity in Britain's housing market has been dampened by the Bank of England's three interest rate rises in the five months to January. "Despite these rises the absolute level of interest rates remains low by historical standards and mortgage affordability for the average UK household remains good," the statement argued. It described the buy-to-let market as remaining "firm" and said the strength of home-moving transactions would be maintained "with fundamental support provided by the lack of alternative tenure together with inelastic supply".
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