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Bank of Manhattan Announces Sale of Mortgage Business

Manhattan Bancorp and Bank of Manhattan, N.A. today announced the signing of an asset purchase agreement with Wilshire Bancorp, Inc. in which Wilshire will acquire certain assets and assume certain liabilities of Bank of Manhattan’s Mortgage Lending Division.

Mortgage rates to decline following central bank's rate cut: economists

Economists were expecting rates to dip slightly in response to the Bank of Canada's surprise move Wednesday to cut its trend-setting interest rate to 0.75 per cent, from one per cent, to soften the blow of dropping oil prices on the Canadian economy. “This signals that low interest rates will be with us a while longer,” said Avery Shenfeld, the chief economist at CIBC World Markets, noting that …