Supplies are at levels not seen since the frenzy of the last housing boom while the median price for a new home hit a record high, further signs that housing is recovering.» Read More
National City, which has been battered by the housing downturn, is considering a plan to sell itself to rival KeyCorp, the Wall Street Journal reported on Wednesday, citing sources familiar with the matter.
Senate leaders announced an agreement on legislation to ease the slumping housing market and help millions of families threatened by foreclosure.
Thornburg Mortgage shares rose Tuesday after the provider of large residential mortgages said it successfully raised $1.35 billion in a last-ditch effort to avoid bankruptcy, but at a large cost to existing shareholders.
Thornburg Mortgage, a jumbo mortgage provider that has been trying to avoid bankruptcy, on Monday said it raised $1.35 billion from a sale of debt and warrants to buy common stock.
Defaults on privately insured U.S. mortgages rose 38.1 percent in February, as a growing number of homeowners failed to keep up with their loan payments.
Housing and Urban Development Secretary Alphonso Jackson is resigning Monday, according to a government official.
An internal JPMorgan Chase memo entitled "Zippy Cheats & Tricks" offers a peek into just the sort of dubious lending tactics that underpinned the U.S. housing market's deepening downward spiral.
British house prices fell for a fifth straight month in March, bringing the annual rate of increase to its lowest in 12 years, in a clear sign the once red-hot property market is weakening fast.
in many cities, the home vacancy rate has scaled its highest since records began in 1956. Officials are using a variety of strategies to combat the problem.
Thornburg Mortgage said it was looking to sell up to $1.35 billion of bonds in a private placement as the company tries to raise the funds necessary to keep lenders at bay and avert bankruptcy.
The pace of existing home sales in the United States rose in February to a 5.03 million-unit annual rate while prices took a record fall, the National Association of Realators said in a report on Monday that painted a mixed picture for the housing market.
JPMorgan Chase is in talks to raise its takeover offer for Bear Stearns to about $10 a share in an effort to appease Bear shareholders angry with the cut-rate deal, a person briefed on the talks said.
As hundreds of thousands of American home owners fall behind on their mortgage payments, more people are turning to short-term loans with sky-high interest rates just to get by.
Even in the worst storms, there are pockets of calm, and the housing crisis gripping the United States is no different.
The regulator of Fannie Mae and Freddie Mac eased capital requirements for the two firms, allowing them to pump up to $200 billion into the distressed mortgage market.
The regulator for Fannie Mae and Freddie Mac will on Wednesday announce that the two U.S. mortgage finance companies have won relief from stringent capital rules and so can pump about $200 billion into a shaky mortgage market, sources familiar with the plan said on Tuesday.
The FBI's criminal probe of the mortgage lending industry has grown to 17 firms, involves large companies, and could take years to conclude, bureau officials said on Tuesday in a Reuters interview.
U.S. home builder sentiment remained mired near historic lows in March, the National Association of Home Builders said Monday, as the worst housing slump since the Depression kept buyers and home financing in short supply.
A fire sale of Bear Stearns stunned Wall Street and pummeled global financial stocks on Monday on fears that few banks are safe from deepening market turmoil.
A mortgage bailout plan hatched between Wall Street and Congress is gaining political traction even though it could be on a crash-course with the Bush administration.