Mortgage giant Fannie Mae says it made $2.7 billion in the first quarter, the first time it has had a net income gain since it was taken over by the government during the 2008 financial crisis.
When Warren Buffett announced in August that he would spend $5 billion to snap up Bank of America shares, investors cheered. Surely this must mean that we've seen the end of the bad news from America's biggest bank, right? Wrong. So did the Oracle of Omaha blunder?
Here's more evidence that the foreclosure crisis has changed the way we think about home ownership's place in the American dream. Nearly half of those polled in a newly released survey said that owning a home today was a "nightmare." But not all polls reflect such a pessimistic view.
Bank of America did the right thing this week, nixing its notorious $5 a month debit card fee before it began. But B of A can't win, and even now, financial journalists are wondering how it will find ways to nickel and dime its way back from this week's fee retreat at the expense of its customers.
Despite other signs of a growing economic recovery, foreclosures aren't slowing. March racked up 367,056 filings, according to RealtyTrac. That was up 19% from February, and the highest number since RealtyTrac began reporting on them in 2005.
Home prices declined slightly in January from last year, but the pace of the price declines has slowed, according to S&P/Case-Shiller's Home Price Indices, a monthly report that monitors residential home prices in 20 metro areas across the U.S.
