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ID: 22999
Title: New Century, other U.S. subprime lenders shares drop (Reuters)
Description:

A sign points to a home for sale in a new subdivision in Vancouver, Washington, April 25, 2006. The subprime industry, which makes loans to borrowers with weak credit, is facing tough times as the air hisses out of the housing bubble. Defaults are rising as home prices slump, rates on many adjustable-rate mortgages adjust higher, and personal savings decline. (Richard Clement/Reuters)Reuters - This just in from London: the U.S. subprime mortgage market is in a tizzy.
Category: Business/
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Date Added: February 08, 2007 10:32:09 PM
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