Housing Market
New home sales rise, prices surge to record highs
- Sales of new single-family homes rose 2.3 percent in April, and prices climbed to record high levels, offering strong proof the sector's rebound trend is intact.
Mortgage applications tumble as interest rates jump: MBA
NEW YORK - Applications for home mortgages dropped for a second week in a row last week as a spike in interest rates stymied demand for refinancing, data from an industry group showed on Wednesday.
Home sales close in on three-and-a-half year high
WASHINGTON - Home resales rose in April to the highest level in nearly 3-1/2 years and prices surged, offering the economy a buffer from the stiff headwinds posed by belt-tightening by Washington.
Housing recovery boosts Home Depot results; outlook raised
- Home Depot Inc reported higher-than-expected quarterly results and raised its sales and profit outlook for the year on Tuesday as the world's largest home improvement chain benefited from a nascent recovery in the U.S. housing market.
Housing nominee vows to divest bank stock if confirmed
WASHINGTON - Representative Mel Watt, nominated by President Barack Obama to serve as a top housing regulator, plans to divest bank stock he owns if confirmed in the post, according to a statement filed with the Office of Government Ethics.
Fed buys $17.3 billion of mortgage bonds, sells $2.2 billion
NEW YORK - The Federal Reserve bought $17.3 billion of agency mortgage-backed securities from May 9 through May 15, a tad less than the $17.8 billion it purchased last week, the New York Federal Reserve Bank said on Thursday.
Lacker says Fed should get out of mortgage market
BALTIMORE - An improving U.S. housing market suggests it is time for the Federal Reserve to stop aiming its stimulus at the real estate sector, Richmond Fed President Jeffrey Lacker said on Wednesday.
Paulson raised bet on mortgage insurers in first quarter: filing
BOSTON - Billionaire investor John Paulson bet more heavily on mortgage insurers during the first quarter, which suggests that his hedge fund expects the housing recovery to grow stronger in the months ahead.
Home builder sentiment gains in May: NAHB
NEW YORK - Homebuilder sentiment rose in May as sales conditions improved, suggesting the housing market recovery still has momentum, data from the National Association of Home Builders showed on Wednesday.
Mortgage applications drop as rates rise: MBA
NEW YORK - Applications for home mortgages fell last week for the first time in more than a month as interest rates jumped, sapping demand for refinancing, an industry group said on Wednesday.
Business News Headlines
- Durable goods orders rise, point to factory resilience
- Wall Street falls at open as Fed plans gauged
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- Market turbulence poses first serious test for Abenomics
- Academics back BP's fight to cap oil spill payouts
- HSBC Chairman urges acceleration of bank reform
- Analysis: German economy to pick up but fall short of traditional pace
- P&G CEO switch will not lead to big strategy change-CFO
- EU risks "too big to cooperate" bank supervision
- Exclusive: Malaysia tycoon plans IPO of football club Cardiff City - sources
- Raiffeisen CEO quits over offshore deals

