January 14th, 2008 9:12 AM by
I haven't been posting too much on this blog. I have started another one at this location: Minnesota Mortgage Musings Make sure to add that to your favorites or bookmark it, which ever your program does!
We'll see how this quarter looks in the coming week. We have a number of the large banks coming out with their earnings reports. This will give us a glimpse of what further deterioration is happening in the credit markets. By some stories I have been reading, the mayhem is spreading to consumer loans(auto and credit cards). American Express had to write down about $440 Million dollars last quarter. The bank releases will give us an idea of what they are seeing in this segment of the market.
Here are some links about this info:Citigroup May Write Down As Much As $24 Billion
Bank Earnings to Show Mortgage Woes Are Spreading