The banking meltdown means it will get tougher to buy a home. The 30-year fixed-rate mortgage averaged 6.73% in the week ending March 9. A year ago, it was 3.85%.
This isn't the first time banking giant Credit Suisse has faced troubles in its 167-year historyCredit Suisse has been dogged by problems for years. In fact, it faced rumors of a potential collapse as recently as late last year.
It also appeared to cost the firm dearly: Customers withdrew 111 billion Swiss francs in the final three months of 2022 amid the speculation. But last month, the Zurich-based lender reported its biggest annual loss since the financial crisis in 2008, highlighting the scale of the challenge it continues to face.The dismal results followed a series of missteps and compliance failures that have already cost the bank dearly.
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