Housing Market
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.
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.
April housing starts plummet from almost 5-year high
WASHINGTON - Ground-breaking for new U.S. homes plummeted more than expected in April from an almost five-year high, but applications to build new homes shows the housing sector could still contribute to the strengthening economic recovery.
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.
Insight: Housing improvement may herald return of U.S. workforce mobility
NEW YORK/WASHINGTON - When David Pendery, a corporate public relations specialist, decided to move his family from Colorado to Illinois this year for work, his biggest worry was whether he would be able to sell his home quickly.
Business News Headlines
- Bernanke expected to stay the course on Fed policy
- EU leaders shine spotlight on Amazon, Google over tax policy
- Futures up ahead of Bernanke testimony
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- Clearwire recommends vote for revised Sprint bid
- Target cuts full-year forecast after weak first quarter
- Too soon to dial back Fed stimulus: Dudley
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- Toll Brothers profit rises 46 percent
- State-backed UK banks gain approval for capital plans
- Ireland feels the heat from Apple tax row
- Pfizer to spin off Zoetis stake to shareholders

