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Applications for home mortgages dropped last week for a second-straight week as a spike in interest rates stymied demand for refinancing, the Mortgage Bankers Association says.
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The US government and mortgage industry are launching the most sweeping effort yet to help troubled homeowners by speeding up the process for renegotiating hundreds of thousands of delinquent loans held by Fannie Mae and Freddie Mac.
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Los Angeles home foreclosures fell sharply in October from September as a new California law came into effect, while the number of foreclosures in Miami continued to grow at a slower rate, real estate research website PropertyShark.com said Tuesday.
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Lawmakers have called key players from the past and present to congressional hearings in an effort to find out what caused the biggest financial crisis since the 1930s and determine how the government plans to get the nation out of the mess.
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The National Association of Home Builders says its housing market index hit a record low this month as the U.S. financial crisis shook builders' confidence in the prospect for improved sales of new homes.
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Rates on 30-year mortgages, which had been falling for five weeks, jumped sharply this week, reflecting the turbulence in global credit markets.
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How the housing bill signed into law Wednesday by President Bush affects homeowners.
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U.S. President Bush Wednesday signed into law a housing rescue plan passed by Congress as foreclosures rise and property values slump, including emergency backstop credits for the big mortgag elenders.
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Centro Properties Group, an Australian victim of the subprime crisis that is struggling to restructure, reported a $1.8 billion full-year loss on Friday, including more than A$1 billion in property revaluations.
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U.S. home builder sentiment was stuck at a record low in August, as stringent lending and a flood of foreclosed homes dragged on the real estate market, according to data from the National Association of Home Builders released Monday.
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Investors dumped the stocks of Fannie Mae and Freddie Mac after Barron's reported the increasing likelihood of a U.S. Treasury bailout that would approach nationalization of the two housing finance titans.
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A federal bankruptcy judge has rejected a settlement involving Countrywide Financial, saying he wasn't convinced it was fair to nearly 300 borrowers allegedly hurt by the mortgage lender's abusive practices.
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Home prices in US metropolitan areas fell 7.6 percent in the second quarter, though sales climbed in some areas as buyers took advantage of the discounts.
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The number of homeowners stung by the dramatic decline in the U.S. housing market jumped last month as foreclosure filings grew by more than 50 percent compared with the same month a year ago, according to data released Thursday.
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Investors dumped stocks in Japanese property and builders Thursday after developer Urban Corp failed in the biggest collapse by a listed Japanese company in six years.
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It may be just a blip in the housing downturn, but even a temporary rebound in home sales is a welcome respite for California's Riverside County, one of the places hardest hit in the U.S. mortgage and foreclosures crisis.
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Applications for U.S. home mortgages edged lower last week as home loan rates jumped, an industry group said on Wednesday.
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Toll Brothers said quarterly home-building revenue dropped about 34 percent, less sharply than analysts were expecting, but it did not provide an earnings outlook because of the current state of the market.
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The U.S. economy may yet slip into recession, but inflation is an even bigger risk given the "exceptionally'' stimulative stance of monetary policy, Richmond Federal Reserve President Jeffrey Lacker said Tuesday.
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The United States is still suffering the worst housing market downturn since the Great Depression, but a slew of factors suggest the worst may soon be over.
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Borrowers with $25.4 billion of option adjustable-rate mortgages owe almost as much as their homes are worth, and one in eight is at least 90 days late on payments, according to Countrywide Financial, the lender bought by Bank of America last month
Realty Check with Diana Olick
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The sales pace is back to what it was during the housing boom in 2005 and 2006.
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Use this interactive map to track the latest numbers in some of the largest housing markets across the country.
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Fannie Mae common shares have soared, but there may not be a happy ending for investors.