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Home builders started fewer single-family homes in May than predicted, which is curious given the low U.S. supply of new and existing homes for sale.
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The House is due Wednesday to begin debating a housing rescue package that could see the government buy up $15 billion of abandoned homes and help an estimated half million homeowners facing foreclosure.
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Fannie Mae on Tuesday cut its dividend and set plans to raise $6 billion in fresh funds to weather the severe U.S. housing market slump, driving its shares and the broader U.S. stock market lower.
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Federal Deposit Insurance Chairman Sheila Bair is finalizing a legislative proposal that will let the Treasury Department issue direct loans for nearly 1 million homeowners, in a move to prop up the housing market, the Wall Street Journal said on Wednesday.
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CapitaLand, Southeast Asia's top property developer, reported a 59 percent slide in quarterly profit due to weaker sales in Singapore and lower one-off gains, and said home buyers would remain wary amid the global credit crisis.
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A recent "euphoric" rebound in stocks and non-government bonds may be premature as deeper home price declines threaten the economy and financial markets, said the manager of the world's biggest bond fund.
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Prices of existing US single-family homes extended their slump in February, with 17 of the 20 measured regions posting record annual declines.
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Countrywide Financial and GMAC, which run the largest independent U.S. mortgage lenders, on Tuesday posted big first-quarter losses, hurt by credit problems as the nation's housing slump deepens.
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U.S. home foreclosure filings jumped 23 percent in the first quarter from the prior quarter, and more than doubled from a year earlier, as more overextended borrowers failed to make timely payments, real estate data firm RealtyTrac said Tuesday.
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The man credited with developing the financing of the modern U.S. mortgage industry says home values have fallen more than their listed prices suggest but they could hold steady with the help of a bill in Congress.
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The share of U.S. homes owned but empty edged up in the first quarter to a record high 2.9 percent, the U.S. Census Bureau said Monday in a report adding more evidence of a deepening housing slump.
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Australia's debt-laden Centro Properties Group said it is seeking bids for 25 of its shopping centres, but hopes to retain at least 50 percent ownership in them to retain management and leasing control.
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Bank of America said Tuesday it plans to stop offering some riskier mortgage loans after it finishes buying Countrywide Financial, the largest U.S. mortgage lender.
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The surprisingly healthy market for oceanfront mansions and palatial condos in Florida, one of the most toxic states in America's housing meltdown, may finally be showing some cracks.
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The Bank of England moved to ease the effects of a credit crunch on the UK's banking system on Monday by offering to swap secure government bonds for riskier mortgage debt.
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The Bank of England's mortgage rescue plan has no upper limit on the amount banks can swap for government debt and it would depend on what they needed to meet their operational needs, BoE Governor King said on Monday.
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The Bank of England will unveil on Monday a plan to swap government bonds for commercial banks' mortgage debt in an effort to unblock the home loan market and ease the effects of the credit crunch on consumers.
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U.S. home loan applications climbed last week, as lower mortgage rates spurred demand for refinancings and overshadowed a small drop in applications to buy houses, an industry group said on Wednesday.
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A reading of U.S. homebuilders' sentiment remained unchanged in April, just shy of its record low for the third consecutive month as the housing market failed to recover.
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British surveyors reported the most widespread fall in house prices last month in the 30-year history of their RICS market survey, suggesting the property downturn is gathering pace.
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One in seven mortgage holders worry about making their monthly payments and even more fret about shrinking home values.
Realty Check with Diana Olick
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Builders started fewer single-family homes in May than predicted, which is curious given the low supply of homes.
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Now that's a shot of confidence: Home builder sentiment hit a 7-year high in June.
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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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