D.R. Horton, the No. 2 U.S. homebuilder, reported a much larger-than-expected quarterly loss on Friday, sending its shares down nearly 7 percent even though it also said orders increased.
Wednesday, 18 Nov 2009 | Posted By:
Albert Bozzo | Source: CNBC.com
Government programs don't help the market, one economist says, because they don't "get rid of the fundamental problem: There's still a glut of houses.”
U.S. mortgage applications fell last week, with demand for home purchase loans dropping to a 12-year low even as interest rates on 30-year loans fell to their lowest level in six months, data from an industry group showed on Wednesday.
US homeowner confidence varied significantly by region in the third quarter as home values in parts of the country stabilized while others saw declines, real estate website Zillow.com said on Wednesday.
Homebuilder confidence was unchanged at low levels in November, but sales of newly built, single-family homes were expected to rise slightly in the next six months, according to a survey by the National Association of Home Builders.
Tuesday, 17 Nov 2009 | Source: The Associated Press
The pace at which people fell behind on their mortgages slowed during the summer for the third consecutive quarter, but the overall delinquency rate hit another record, a new report shows.
Home Depot posted a higher than expected quarterly profit Tuesday but warned that there was still a lot of pressure in the U.S. housing and home improvement markets, sending its shares lower.
Tuesday, 17 Nov 2009 | Posted By:
Lisa Auret | Source: CNBC.com
As the economic slowdown peters out and recovery shoots arise, governments are still making good on their promises of infrastructure spending in their massive stimulus packages. And it may be just the time for investors to make money off these government-initiated projects.
Capital reserves of the Federal Housing Administration have fallen well below legally required levels, due to significant losses on home loans made before this year, Housing and Urban Development Secretary Shaun Donovan said on Thursday.
The 30-year fixed-rate mortgage averaged 4.91 percent for the week ending November 12, 2009, down from last week when it averaged 4.98 percent, according to Freddie Mac.
Refinancing drove total U.S. mortgage applications higher last week as fixed borrowing costs fell further below 5 percent, but home purchase demand sank to a nine-year low, an industry group said on Thursday.
The Dow rose for a sixth straight session Wednesday as the dollar hit a new 15-month low after Fed comments and strong Chinese economic data. Financial, material and IT stocks were the biggest gainers.
The home buyer tax credit was extended and expanded, and mortgage interest rates have actually been trending even lower, but housing's recovery is still being hampered by new appraisal rules... Read More