SYDNEY - The adage "safe as houses" has been an oxymoron since the global financial crisis. But it still has a resonance for Australians who use their homes as a piggy bank, salting away money by paying down their mortgages at a breakneck pace.
WASHINGTON - A U.S. government watchdog on Wednesday warned that big banks have dramatically boosted their borrowing from a federal housing finance program, a move that could pose risks to the government-sponsored system if a big borrower defaulted.
- A resurgent U.S. housing market has created an unforeseen land shortage that could take the shine off an otherwise promising year for homebuilders.
WASHINGTON - The U.S. housing industry has waited three months to find out how Mel Watt will govern taxpayer-owned mortgage companies Fannie Mae and Freddie Mac , and has been frustrated by his silence.
NEW YORK - Deutsche Bank AG has won dismissal of a lawsuit seeking to have it cover government-sponsored Freddie Mac's losses on defective mortgage securities purchased from a more than $1.4 billion trust.
WASHINGTON - A coalition of investors in Fannie Mae and Freddie Mac on Wednesday launched an effort to stop Congress from moving ahead with a U.S. housing finance reform bill, arguing it would deny them a fair share in any remaining value in the two companies.
NEW YORK - In Indianapolis, an open house event tends to draw 10 people on a good day.
NEW YORK - Applications for U.S. home mortgages fell last week on lower refinancing demand, an industry group said on Wednesday.
- The U.S. apartment vacancy rate fell to 4 percent in the first quarter of 2014 as the market's recovery stretched into its fourth year, according to real estate research firm Reis Inc.
WASHINGTON - New claims for jobless benefits hovered near their pre-recession levels last week and manufacturing in the Mid-Atlantic region accelerated in April, suggesting an upswing in economic activity after a brutally cold winter.
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