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
Subprime mortgage write-downs could reach $285 billion, but an end to the write-downs is in sight for big financial firms, S&P said.
Standard & Poor's helped stocks rebound by saying that an end to subprime mortgage writedowns is in sight for big financial institutions.
Nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year, with Nevada, California and Florida showing the highest foreclosure rates, a research firm said Wednesday.
The subprime crisis may have wiped billions of dollars off the value of global real estate markets, but it is much easier to make money in today's market than a year ago, the joint CEO of RREEF Europe told Reuters.
U.S. financial regulators pledged to toughen rules for mortgage brokers, lenders and credit agencies in a bid to ease a credit crunch.
London is still by far Europe's priciest business location, but the cost of buying an office, as opposed to leasing one, is now greater in Madrid, Paris, Dublin, Munich, Barcelona, and Stockholm, according to a report issued on Wednesday.
In scathing criticism of their failure to understand the risks of the subprime market, a Federal Reserve policymaker on Tuesday lambasted top bankers and called for much more prudence in lending.
The federal authorities have opened a criminal inquiry into Countrywide Financial for suspected securities fraud as part of the continuing fallout over the mortgage crisis, government officials with knowledge of the case said on Saturday.
Thornburg Mortgage on Friday said its survival is at stake because it is unable to meet $610 million of margin calls.
Weak economic indicators pushed interest rates on U.S. 30-year mortgages down this week after three consecutive weeks of gains, home funding company Freddie Mac said on Thursday.
Americans' percentage of equity in their homes fell below 50 percent for the first time on record since 1945, the Federal Reserve said Thursday.
Thornburg Mortgage, said on Wednesday, its failure to meet a margin call has triggered defaults under a variety of lending agreements and its obligations under those agreements are "material."
Merrill Lynch said its First Franklin subprime lending unit will stop offering mortgages, resulting in a loss of 650 jobs, and it will try to sell the part of the operation that handles billing and collections.
Shares of Fremont General plunged to an all-time low on Tuesday after the real estate lender said it didn't believe it would be compliant with a loan covenant because of write-downs in its fourth quarter.
Thornburg Mortgage on Monday said it has suffered $270 million of new margin calls and failed to meet many of them, raising speculation the lender might file for bankruptcy.
With home prices falling and families losing their homes to foreclosure, some people see greater security in renting..
Countrywide Financial, the largest U.S. mortgage lender, said it may see more credit losses as downward trends in the economy and in the real estate market conspire to boost delinquency rates.
Plans for sweeping federal programs that would aid troubled mortgage borrowers would bring unfair relief to speculators and reward investors who made bad bets, U.S. Treasury Secretary Henry Paulson said Thursday.
If you're thinking of buying a house or refinancing your mortgage, you might want to wait a bit longer.
The U.S. economy is in a slowdown but not headed into a recession, President Bush said Thursday after new data showed slow fourth-quarter growth and a bigger-than-expected jump in unemployment claims.