WASHINGTON - U.S. home resales fell sharply in November to their lowest level in nearly a year, hurt by a rise in interest rates since the spring and ongoing price increases that have shut some home buyers out of the market.
WASHINGTON - U.S. housing starts surged to their highest in nearly six years in November, a sign of strength in the economy that underscores the Federal Reserve's decision to start cutting back its monthly bond purchases.
NEW YORK - Applications for home mortgages fell last week, dropping to a multi-year low, an industry group said on Wednesday.
WASHINGTON - Many U.S. homebuyers will likely pay more for mortgages next year due to a new policy established by the U.S. housing finance regulator that is raising the fees on government-backed loans.
- The New Jersey attorney general sued a unit of Swiss bank Credit Suisse Group AG on Wednesday and accused it of misrepresenting the risks on more than $10 billion in securities backed by home loans.
- Lennar Corp , the No.3 U.S. homebuilder, reported a 13 percent jump in quarterly orders and the second-highest gross margins in its 59-year history, defying a recent slowdown in the U.S. housing market that hurt its bigger peers.
WASHINGTON - The U.S. government could reduce its support for high-cost mortgages as soon as October of next year, a top regulator said on Monday in a statement that amounted to a show of confidence in the housing recovery.
WASHINGTON - The Federal Housing Administration, which recently received an infusion of funds from the U.S. Treasury to cover projected losses, still faces a $1.3 billion capital shortfall, an independent audit released on Friday found.
- Applications for U.S. home mortgages rose slightly last week after five consecutive weeks of declines, an industry group said on Wednesday.
WASHINGTON - New mortgage rules designed to prevent a repeat of the 2007-2009 financial crisis, when foreclosures spiked because of risky bank practices, were finalized by the U.S. Department of Housing and Urban Development on Wednesday.
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