Mortgages
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Strong mortgage originations have propped up bank earnings over the past several quarters, but the trend may have weakened in the first quarter, according to FBR Capital, which lowered the earnings estimate for six banks. TheStreet.com reports.
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Strong mortgage originations have propped up bank earnings over the past several quarters, but the trend may have weakened in the first quarter, according to FBR Capital, which lowered the earnings estimate for six banks. TheStreet.com reports.
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Despite "horror stories" about the difficulties of getting a mortgage, banks are willing to lend, Barry Habib, chief market strategist at Residential Finance, told CNBC.
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The housing comeback is showing signs of accelerating more rapidly than most anybody had thought at this point, David Stevens, president and CEO of Mortgage Bankers Association, told CNBC.
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Even as mortgage rates begin to rise, the difference between conforming and jumbo loan rates is shrinking, and that is good news for buyers of higher-priced homes.
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Bank of America said Thursday that the New York State Attorney General was investigating the bank over its purchase, securitization and underwriting of home loans.
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Jumbo loans are returning to the mortgage market after almost disappearing entirely in the wake of the credit crisis of 2008 and the real estate meltdown.
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Regulators say "qualified mortgages" will be safe. But regulators have been wrong before, with disastrous results.
Real Estate
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As the housing market rebounds, so do sales of home priced at $10 million and up. CNBC's Robert Frank lists the zip codes where sales are the hottest. (2:48)
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Applications for U.S. home mortgages fell last week, as a decline in refinancing activity offset higher demand for purchase loans.
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London's blue chip neighborhoods like Belgravia are increasingly owned by rich, and largely absent, foreigners.