Tuesday, July 22, 2008

Fourth largest US bank stops wholesale mortgages

Wachovia ends wholesale mortgages

Wachovia , the 4th largest US Bank has stopped offering mortgages via brokers.This is a clear sign that the world wide mortgage drought is continuing in the same month some US house prices fell 4.5%. The UK will soon follow too.

Posted by mikelivingstone @ 09:13 PM (588 views)
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One thought on “Fourth largest US bank stops wholesale mortgages

  • They didn’t though. According to the index quoted they fell 0.3% on the month, and 4.8% annually. Not that it’s a very good survey, Case Shiller produces much better data.

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