Are Banks and Housing About to Get Crushed by Rising Rates? The evidence is everywhere: mortgage rates are at a two-year high, applications have fallen for four straight weeks after climbing for more ... more 
Are Banks and Housing About to Get Crushed by Rising Rates? The evidence is everywhere: mortgage rates are at a two-year high, applications have fallen for four straight weeks after climbing for more than a year, and Fed Chairman Ben Bernanke says he would have to "push back" if the impact of rising interest rates were jeopardizing the recovery. Banking sources say that the $4 billion loan backing Chinese pork producer SHUNG-WAY International's $4.7 billion bid for U.S. meat processor Smithfield Foods has raised $5 billion from banks so far and could rise to $9 billion. Billionaire investor Carl Icahn is offering Dell shareholders a chance to own a bigger stake in the company in hopes of thwarting an attempt by Dell's founder to buy it and take it private. less 
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Wochit
Fri, Jul 12, 2013 1:12 PM EDT