houses

The Housing Mess Hits One New York Town Hard

In some parts of the U.S., the real estate market remains deep in recession. But even with housing prices sitting at multi-year lows, millions of houses remain empty, unable to attract buyers haunted by unemployment and a weak economy. As part of a new series, DailyFinance takes a look at one town near New York City that is still struggling with the effects of the great real estate bust.

Mortgage Loan Applications Rise on Refinance Demand

Applications for mortgage loans jumped last week, as homeowners took advantage of historically low rates to refinance their homes. In the week ending July 2, the total number of applications for loans rose 6.7 % on a seasonally adjusted basis from a week earlier.