Subprime Mortgage Crisis
U.S. builders started work on single-family houses last month at the fastest pace since the Great Recession began in late 2007.
Mortgage rates have again fallen, to around 3.6 percent for a 30-year mortgage, said Horizon Bank executive vice president and senior retail bank officer Dave Rose.
The economy came out of its winter hibernation during the second quarter as consumer confidence reached the highest point since 2007, Horizon Bank Executive Vice President David Rose said.
Interest rates remain low, making it an ideal time for businesses to borrow money to expand or acquire other companies, said Horizon Bank executive vice president David Rose.
The banking sector remains strong despite in dip in mortgage activity and a wave of consolidations, a Northwest Indiana banker said.
Michigan City-based Horizon Bancorp, the parent company of Horizon Bank, is reporting the highest full-year profit in its history.
MUNSTER | Peoples Bancorp, the holding company of Munster-based Peoples Bank, reported a 10 percent increase in earnings during the first nine months of the year as compared to the same period last year.
The banking sector has been improving gradually over the last couple years, and should continue to make positive gains, a Northwest Indiana banker said.
With the recent economic downturn and declines in home values, sales and ownership rates observed over the last few years, many people have been questioning whether buying and owning a home is a wise decision right now.
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