| Subprime loans put state in spotlight
A potential meltdown in the subprime mortgage market has economists calling for more slowing in the housing market. Not surprisingly, delinquency and foreclosure rates released last week are much higher for subprime borrowers.
How many homeowners have subprime loans in a metro area and how far behind those borrowers are on their monthly payments will dictate how much more these risky loans could drag down the housing market.
What has some watching Arizona is its high ranking for subprime loans, No. 2 nationally, only behind Nevada, according to the Mortgage Bankers Association of America. Almost 17 percent of all homeowners in Arizona have subprime loans. In Nevada, the rate is 19 percent. Florida is No. 3 with about 16 percent. .
At Home calendar
The following classes will be offered by Struve Paint, 501 N. Broadway, Rochester. Classes are free and are part of the 60th anniversary celebration for the store. Visit www.struvespaint.com for details. "Faux Your Treasures" at 6 p.m. Monday. "How to Hang Wallpaper" demonstrations throughout the day Tuesday. "How to Hang Paper Illusion" demonstrations throughout the day Wednesday. The following classes will be held at Home Depot in Rochester. Classes are free. "Installing DuPont Laminate Flooring" at 1 p .m. Sunday. This clinic will provide you with information on installing laminate flooring and discuss possible decorative patterns as well. "Prepare Your Lawn for Spring" at 7 p.m. Thursday. This clinic will teach you the basics of lawn care including how to prepare a lawn for the growing season and how to choose the proper mower.
Wednesday Newspaper Review - Irish Business News and International ...
The Irish Independent reports that the economy appears to be headed for a soft landing, according to government revenues for the first three months. Revenues from the housing market have held up, and consumer spending is being buoyed by funds from maturing SSIAs in line with Department of Finance expectations, the first-quarter Exchequer returns show. There is also little sign of problems among companies, despite recent closures, lay-offs and complaints. Corporation tax continues to boom, implying strong growth in profits. Figures from the UK yesterday showed British firms' profits rose to a record high in the fourth quarter of 2006. Receipts Corporation tax receipts hit 924m in the quarter, which was a full 26pc more than had been forecast.
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