Asset Management Tips

With the economy sputtering and homeowners facing higher mortgage payments, many consumers are struggling to keep up with their car loans, too.

Auto and bank executives say delinquencies and defaults are creeping higher because of worsening economic conditions, rising unemployment and higher costs - including gas and food prices.

Although delinquencies - defined as payments that are more than 30 days late - haven't risen to the alarming rates roiling the U.S. housing markets, they have increased enough to prompt lenders to tighten their standards.

That's bad news for automakers. If banks and other lenders turn away prospective car buyers with weak credit scores, that could make a difficult year for automakers even harder, particularly for Detroit's Big Three.

I'd think your Chevys and Fords and Chryslers - those are the brands likely to get hurt, said Bradley Rubin, an analyst at BNP Paribas in New York. read more

House prices fell at their fastest rate for more than 12 years during November, new figures show.

Nationwide Building Society said the average cost of a home in the UK dropped by 0.8% during the month, almost wiping out October's unexpected jump of 1.1%.

It is the first time the group has recorded a fall in house prices since February last year and it is the biggest monthly drop since June 1995.

But the group stressed that monthly figures could be volatile, and added that November's drop was partly a reflection of the strong gain seen during October.

The fall helped reduce annual house price inflation to 6.9%, down from 9.7% the previous month, restoring the trend of slowing growth seen during the second half of this year.

The average home in the UK is now worth �184,099, nearly �12,000 more than in November last year. read more