Credit Suisse Group AG must face a lawsuit claiming it fraudulently induced MBIA Inc. to guarantee $900 million of mortgage-backed bonds, a judge said. Justice Shirley Werner Kornreich of New York state Supreme Court in Manhattan denied a bid by Credit Suisse to dismiss a suit by MBIA, the world’s largest bond insurer, alleging misrepresentations about securities marketed by the Zurich-based bank.
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Mark Fleming, First American’s chief economist, said housing market potential climbed to the highest level since January 2018.
The lowest mortgage rates have ever been was around Thanksgiving 2012 when the interest rate for a 30-year fixed-rate mortgage fell to 3.31% (according to Freddie Mac data), but rising panic over the coronavirus could drive rates to lows never seen before. HW+ Premium Content