Thursday, May 18, 2006

Mortgages get heavier / Brace yourselves, credit-card junkies

Finance Battered Stocks, and Hot Burgers

Delinquency rates are rising on mortgages issued last year, according to Wall Street firms. People who bought homes in 2005 faced a double whammy -- rising mortgage rates and sky-high prices.

OK, "binge" borrowers, says Janet Whitman in the New York Post. Pay up. You've been "racking up credit-card debt and taking out" risky mortgages while interest rates were low. Now the "whiff of inflation" is in the air, and the Federal Reserve will have to keep jacking up interest rates "to keep inflationary pressures at bay."

Posted by foobar @ 02:32 PM (676 views)
Add Comment
Report Article

1 Comment

1. Retiredbanker said...

"Investors are loosing confidence that Washington will be able to"pay back" its mounting obligations in undepreciated
money". So the dollar is loosing value.

It has been obvious for at least two years that this situation would occur.
An astute lot these investors!

Thursday, May 18, 2006 03:07PM Report Comment

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of
  • Please adhere to the Guidelines
Admin Password
Email Address

Main Blog | Archive | Add Article | Blog Policies