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.
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.
- 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.
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.
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.
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.
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.
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.
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.
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