clock menu more-arrow no yes mobile

Filed under:

Morning Mortgage Meltdown: Housing Crisis Hurts

New, 1 comment

The numbers are in, and as if there were ever a question in the first place, it's now official: The U.S. housing crisis has, in fact, caused some serious damage to the mortgage industry. As of yesterday, major companies reported major losses in the first quarter of 2008 due to defaults, a crumbling market, an increased number of write-downs, decline in new biz— you name it. [AP]