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Massive mortgage slump fuels house sale fears
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The property market slump seems set to intensify after the major banks revealed that the number of new mortgages approved in April was the second lowest on record. |
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The number of mortgages approved for people buying a home fell to a new low for the second successive month in April, the Bank of England said. Just 58,000 loans were approved in April, the lowest since the Bank began collecting data 15 years ago. |
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The number of mortgages approved for people buying a home fell to a new low for the second successive month, the Bank of England said today. Just 58,000 loans were approved in April, the lowest since the Bank began collecting data 15 years ago. |
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With many homes worth less than the mortgages on them, banks need to consider writing down the value of the loans |
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NEW YORK — Just as banks are struggling to get out from under the subprime mortgage mess, they're facing a new burden: growing delinquencies for home equity loans. Three of the U.S.'s largest banks that reported earnings this week, Citigroup, Wells... |
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Bank of England figures show a fall in new mortgage approvals and a record rise in other loans. |
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WASHINGTON (Reuters) - Big US banks should shore up reserves for growing losses from home equity loans, which were widely offered to help close mortgage deals, the head of the Office of the Comptrol..... |
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We will show you how to Pay Your Mortgage off in 8 to 11 yrs. No Refinancing necessary. Use the bank's systems and get your $$$ working for you instead of the bank making all of that $$$ off of you. When you understand how interest works, you will... |
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April 2 (Bloomberg) -- U.K. mortgage approvals dropped close to the lowest level in nine years in February as the property market slumped and banks curbed lending. |
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