Monday, November 19, 2007

Time To Dump The Hummer

Trouble paying for the house, trouble paying for the cars. AP (11.19.07):
"Rising delinquency rates on car and truck loans have some industry analysts concerned that subprime mortgage troubles could spill into the automotive finance business.

In a note to investors Monday, Lehman Brothers analyst Brian Johnson said his analysis of auto loan-backed securities sold by Ford Motor Credit Co. and GMAC Financial Services showed some higher delinquency rates for October and September compared with recent years."

Mortgage Woes Could Spread to Cars

"'As unemployment remains low, this deterioration in the auto ABS credit conditions may be evidence of a likely spill over of the mortgage woes onto the auto credit world,' Johnson wrote."



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