Housing Starts Pick Up in May, But Less Than Forecast
Housing starts rose less than expected in May, likely reflecting labor and material constraints, but the overall trend remained consistent with strength in the housing market.
mortgages
Why We May Never See 3% Mortgage Rates Again
Those who didn't take advantage of record-low mortgage rates have missed the boat -- at least for now. Here's why.
Pending Home Sales Hit 3-Year High; Supply Dwindles
Contracts to buy previously owned U.S. homes rose to their highest level in three years in April, but a shortage of properties for sale could slow down the momentum.
Sales of Bank-Owned Homes Plunge to 5-Year Low in 1Q
Sales of bank-owned homes have plunged to a 5-year low, the latest evidence that the nation's foreclosure woes are easing as the U.S. housing market recovery gains momentum.
Specter of Higher Interest Rates Weighs on Markets
Fed Chairman Ben Bernanke warns the central bank could begin winding down its bond buying program later this year, adding uncertainty that's likely to weigh on markets.
Bernanke Signals Fed Will Keep Stimulus in Place
Fed Chairman Ben Bernanke tells Congress that the U.S. job market remains weak and that it is too soon for the central bank to end its extraordinary stimulus program.
Toll Brothers Profit Rises as Housing Market Rebounds
Toll Brothers posted a 46 percent rise in quarterly profit as the largest U.S. luxury homebuilder sold more homes at higher prices.
5 Things You Must Know About Mortgages
Even after the housing crisis, many potential buyers still don't know even the most basic things about mortgages. Here are five essential facts about financing a home.
U.S. Homebuilders' Confidence Climbs in May
Confidence among U.S. homebuilders rebounded in May, reflecting improved sales trends during the spring home-selling season.
Fannie Mae Posts Record $60B Quarterly Profit
Mortgage-backer Fannie Mae will pay a dividend of $59.4 billion to the U.S. Treasury next month, a feat thought unthinkable just a few years ago following a federal bailout.
Court: U.S. Can Pursue Case Against BofA Over Mortgages
A federal judge rules that the U.S. can pursue parts of a civil lawsuit against Bank of America for its sale of toxic mortgages to Fannie Mae and Freddie Mac.
Freddie Mac Posts Near-Record Profit in First Quarter
Mortgage giant Freddie Mac earned $4.6 billion from January through March, helped by a stronger housing market.
U.S. Home Prices Surge 10.5% in March
A survey shows U.S. home prices rose 10.5 percent in March compared with a year ago, the biggest gain since March 2006.
BofA, MBIA Reach Settlement in Mortgage Dispute
Bank of America agrees to pay MBIA $1.6 billion to settle a dispute over soured mortgage securities issued during the U.S. housing boom.
No Surprises Expected as Fed Ends 2-Day Meeting
The Federal Reserve is widely expected Wednesday to stick with its aggressive efforts to strengthen a still-subpar economy.
Surge in New-Home Sales Signals Reviving Housing Market
Sales of new homes rebounded in March to the second fastest sales pace in three years, adding evidence of a sustained housing recovery.
Existing Home Sales Edge Down as Prices Rise
U.S. home resales edged downward in March, pointing to some slowdown in the housing market recovery pace as overall economic activity cools.
Bank of America to Pay $500M to Settle Investor Lawsuit
Bank of America says it will pay $500 million to settle a class-action lawsuit involving investors who say they were misled in their purchase of mortgage-backed investments.
Mortgage Insurers Funneled Kickbacks to Lenders, Alleges CFPB
On Thursday, the Consumer Financial Protection Bureau filed complaints against four mortgage insurers who the CFPB claimed had paid millions in kickbacks to mortgage lenders.
Drop in Interest Rates Boosts Demand for Home Mortgages
Applications for U.S. home mortgages rebounded last week as interest rates pulled back for the first time in three weeks, fresh data show.
Fed Seen Maintaining Stance on Record Low Interest Rates
The Federal Reserve on Wednesday is expected to maintain its resolve to keep borrowing costs at record lows despite growing signs that the economy is strengthening.
Young Adults are Too Broke to Get Loans
Young adults are in less debt than they were a decade ago, but it's not because people under 35 have suddenly become fiscally responsible. It's more likely that their shaky economic status keeps them from qualifying for loans.
Late-Payment Rate on U.S. Mortgages Hits 4-Year Low
Homeowners who took on mortgages well after the housing bubble burst are doing a better job in keeping up with payments, a trend that has helped push the national rate of late payments on home loans to the lowest level in four years.
JPMorgan CEO Sees Pay Slashed Over London Whale Trading Loss
JPMorgan Chase reported a 55 percent jump in earnings for the fourth quarter as mortgage fees and other income surged. The bank also released its reviews of a $6 billion trading loss that drew sanctions from regulators, and said it would cut CEO Jamie Dimon's pay by more than half as a result.
CFPB Unveils New Federal Rules to Curb Risky Mortgages
The Consumer Financial Protection Bureau is laying out the nation's first rules aimed at ensuring that mortgage borrowers can afford the loans they take out. Among the new regulations are bans on the risky "interest-only" and "no documentation" loans that helped inflate the housing bubble.
Year-End Debt Checkup: Make Sure Yours Is Healthy Debt
Not all debt is created equal. And even in today's low interest rate climate, too much of the wrong kind of debt can quickly snowball. So as you consider your overall financial picture, make sure you only take on healthy debt -- and even then, only if you can afford it.
Fannie Mae, Freddie Mac Managers' Median Pay: $200,000 a Year
A government report finds median pay for nearly 2,000 senior managers at government-controlled Fannie Mae and Freddie Mac exceeded $200,000 last year. The Federal Housing Finance Agency, which oversees the two mortgage giants, also did an inadequate job monitoring pay, according to the report.
Are Mortgages from Walmart the Future of Lending?
Since the financial crash of 2007, banks have lost their luster and alternative financing options like peer-to-peer lending have grown rapidly. Now, a new study suggests the next phase of lending's transformation will be companies like Walmart and eBay offering big loans at lower rates.
How You Can Take Advantage of the Fed's Low Interest Rate Plans
To keep interest rates at rock-bottom lows and boost the economy, the Federal Reserve is buying $40 billion a month in mortgage-backed securities, and it'll keep buying them for as long as it takes to get the economy back on track. Here's how that plan should affect your personal economy.
10 Common Money Problems That Need Fixing Now
The election may have put economic issues like the fiscal cliff in the spotlight, but there are still plenty of consumer-level financial pain points that need fixing. Here are 10 of the most common consumer money problems.