home equity loan rate colorado
The banks in Colorado have concentrated more of their assets in real estate loans and securities during the past five years, leaving them vulnerable if rising interest rates kick the legs out from under the market.
According to a Denver Post analysis of Federal Deposit Insurance Corp. reports, since 2001, Colorado banks have seen their real estate holdings as a percentage of total assets increase from 48.8 percent to 59 percent. U.S. banks have increased their real estate assets as a percentage of total assets from 33.7 percent in 2001 to 40.9 percent today. Foreclosures in Colorado have tripled since 2000, and three out of 10 homeowners have home equity of 5 percent or less, leaving them vulnerable to foreclosure if prices fall, the FDIC reports. Financial experts credit several factors for the surge in bank ownership of real estate assets.
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MDC Holdings Announces Second Quarter Earnings; Reports Quarterly ...
DENVER, July 20 /PRNewswire-FirstCall/ -- M.D.C. Holdings, Inc. (NYSE: MDC) (PCX: MDC) today announced net income for the quarter ended June 30, 2006 of $76.5 million, or $1.66 per diluted share, compared with net income of $102.6 million, or $2.25 per diluted share, for the same period in 2005. Total revenue for the second quarter reached $1.23 billion, compared with revenue of $1.05 billion for the same period in 2005.
Net income for the six months ended June 30, 2006 was $171.9 million, or $3.74 per diluted share, compared with net income of $187.3 million, or $4.10 per diluted share, for the same period in 2005. Total revenues for the six months ended June 30, 2006 reached $2.38 billion, compared with $1.98 billion for the first six months of 2005.
Larry A.