There doesn't seem to be anything under the sun that Costco doesn't sell, including mortgage loans. The retailer's new online financial offering had been in testing mode for the past year, and it has worked so well that it has now been launched publicly.
The LIBOR scandal is being called the "Wall Street scandal of all scandals" but the nature of this massive fraud can be hard to fathom. This nifty infographic from AccountingDegree.net gives non-finance folk an idea of what the scandal is all about.
Mortgage loan applications fell 4.4% in the week ending July 23, dragged down by a decrease in the number of people looking to refinance their homes. Applications for refinancing loans fell to 5.9%, the Mortgage Bankers Association said in a statement.
