Home Equity Loan | Capital One, said regions falling house prices may

September 26, 2010 – 2:07 am

Peter Eichenbaum, and David Henry

(Updates & Region from the first paragraph.)

13. September (aktiencheck.de AG) – Capital One Financial Corp. and Regions Financial Corp., the lender $ 43,700,000,000 combined mortgage and consumer loans, "said U.S. housing prices continue to fall.

"We are very cautious about the housing market," Capital One CEO Richard Fairbank said at an investor conference today, Barclays Capital in New York. "Although in recent months while house prices have risen, I think it is a very credible falling real estate prices again."

Regions CEO Grayson Hall said house prices could be 16 states in South and Midwest, where the bank may operate. Prices in Florida would be a further decrease of 10 per cent increase and reach the ground six to eight months, he said.

Foreclosures are to promote the supply of homes on the market and undercut the confidence of home buyers to reduce demand, falling as mortgage rates at record lows. to sell U.S. inventory of homes is an average 3.89 million in the second quarter, the biggest since 2008, according to the National Association of Realtors.

Capital One had 13300000000 $ in consumer contracts, mortgages in the second quarter, representing 10 percent of total loans. McLean, Virginia company buys most of its revenue from credit card loans, which was 54600000000 $ in the U.S.

Not spend

"Of course, we see dramatic retreat from the consumer," says Fairbank. "They are a debt relief and certainly disappoint many of us the economy, and they make a lot of issues."

Of the total $ 85900000000 30400000000 "credit, the home equity and mortgage loans in 30 next June, the company said in a quarterly report. The bank had 18900000000 "credit for real estate investors. Of these, 25 percent multi-family homes for more than a third of Texas and Florida, according to a report.

Capital One rose 56 cents, or 1.4 percent, $ 39.45 at 16:15 clock New York Stock Exchange composite trading. Birmingham, Alabama-based Regions advanced 39 cents, or 5.7 percent, $ 7.28.