Housing Market

Wells Fargo to move securities arm to New York's West Side


Wells Fargo & Co will move the New York headquarters of its investment banking and securities business to Hudson Yards, the mammoth project under construction on Manhattan's West Side, in 2020, developers of the site said on Friday.

Weak U.S. housing, factory data hint at modest fourth-quarter growth

WASHINGTON Factory activity in the Midwest shrunk in November and contracts to buy previously owned U.S. homes rose marginally, the latest suggestions that economic growth will probably remain modest in the fourth quarter.

30 Nov 2015

Fed buys $4.1 billion of mortgage bonds, sells none

NEW YORK, The Federal Reserve bought $4.138 billion of agency mortgage-backed securities in the week from Nov. 26 to Dec. 2, compared with $5.974 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.

03 Dec 2015

U.S. home prices rise faster in September, beat forecast

Annualized U.S. single-family home prices rose in September at a faster pace than in August and above market expectations, a closely watched survey showed on Tuesday.

24 Nov 2015

Tight inventories, rising prices hurt U.S. home sales

WASHINGTON U.S. home resales fell in October as a persistent shortage of properties limited choice for potential buyers and pushed up prices, suggesting some softening in the pace of the housing market recovery after strong gains early this year.

U.S. 23 Nov 2015

U.S. housing starts hit seven-month low; setback seen as temporary

WASHINGTON U.S. housing starts in October fell to a seven-month low, weighed down by a steep decline in the construction of multi-family homes, but a surge in building permits suggested the housing market remained on solid ground.

18 Nov 2015

Fed's Rosengren eyes commercial property, risky lending: FT

If the pace of growth in commercial real estate and risk-taking in some corporate loans continue unabated, they could become arguments for slightly faster interest-rate increases, Boston Fed President Eric Rosengren said in an interview with the Financial Times published on Sunday.

15 Nov 2015

Wells Fargo to pay $81.6 million to bankrupt U.S. homeowners: DOJ

Wells Fargo & Co will pay $81.6 million to homeowners for denying them a chance to challenge mortgage payment increases imposed during their bankruptcy proceedings, the U.S. Justice Department said on Thursday.

U.S. looks to expand financing in underserved housing markets

WASHINGTON Mortgage finance companies Fannie Mae and Freddie Mac must by law do more in underserved markets, their federal conservator said on Tuesday, unveiling a proposal that would have them help finance manufactured homes, support affordable housing and strengthen lending in rural areas.

15 Dec 2015

Seattle law requires developers to pay for affordable housing

SEATTLE Seattle Mayor Ed Murray signed an ordinance into law on Tuesday he says will add 6,000 living units for low-income residents over the next decade to be paid for by fees on private developers.