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.
Fed's Duke says sustained housing recovery under way
WASHINGTON - A top Federal Reserve official said a recovery has taken root in the U.S. housing market but that resolving uncertainty over mortgage regulations would make the recovery stronger.
Unclear whether Fed's bond buying has helped economy: Fisher
- While the Federal Reserve's accommodative policies have boosted stocks and helped the rich, it is unclear whether they are doing enough for the broader U.S. economy, a top central bank official said on Monday.
Business News Headlines
- Yahoo buying Tumblr for $1.1 billion, vows not to screw it up
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- Wall Street ends near flat; correction worry rises
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- Apple's stateless subsidiaries lower tax bills: Senate report
- Morgan Stanley sued in 'pay-to-play' retirement plan case
- Citi names new heads of mortgages, private bank, Citi Holdings
- Apple to argue for tax reform, defend tax practices on Tuesday
- Trade group SIFMA names ex-Senator Gregg as CEO
- Chesapeake Energy hires Anadarko executive as CEO
- GM gearing up for big ad push for crucial new pickups: executive
- First flight nears, A350 could make Paris show flyby

