Bloomberg (August 19)
2022/ 08/ 20 by jd in Global News
“The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago.” Though a “systemic meltdown” is not expected, market watchers still anticipate “a string of bankruptcies broad enough to trigger a spike in layoffs in an industry that employs hundreds of thousands of workers, and potentially an increase in some lending rates.”
Tags: Bankruptcies, Failures, Housing bubble, Industry, Layoffs, Lenders, Market, Mortgage, Rates, Spike, Systemic meltdown, U.S.
