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Report: Fewer US homes foreclosed upon in April
National foreclosure trends took a positive turn in April, as the number of homes seized by banks declined and fewer properties entered into the foreclosure process. But state-level data point to potentially more home repossessions ahead in Florida and many of the 25 other states where courts are required to ...
US economy picks up after early spring slump
Maybe the U.S. economy's strength this winter wasn't just weather-related after all. Home construction is near a three-year high. And factory output has risen in three of the year's first four months. The data released Wednesday suggest growth in the April-June quarter is off to a good start, helped by ...
US builder confidence at highest level in 5 years
Confidence among U.S. builders rose to the highest level in five years in May, a hopeful sign that modest improvement in the housing market will pick up. The National Association of Home Builders/Wells Fargo builder sentiment index rose to 29 in May. That's the highest reading since May 2007 and ...
US rate on 30-year mortgage hits record 3.83 pct.
Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Cheap mortgage rates have made home-buying and refinancing more affordable than ever for those who can qualify. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 ...
There's room at inn for Olympics _ but it'll cost
It's months before athletes hit the Olympic track, but time is running out for those in another fierce competition: The scramble for a place to stay in London. Some innkeepers will be charging Ritz rates for Fawlty Towers rooms — and they will get away with it. A limited hotel ...
US rate on 30-year mortgage hits record 3.84 pct.
Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week, offering more incentive for Americans to buy or refinance homes. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan fell to 3.84 percent, the lowest since long-term mortgages began in ...
US construction spending barely increased in March
U.S. builders barely increased their spending on construction projects in March after two straight months of declines. A pickup in single-family home construction and commercial projects offset a steep drop in state and local government building. The Commerce Department said Tuesday that construction spending ticked up 0.1 percent. The small ...
Census: Homeownership hit 15-year low in 1Q
The American dream of homeownership is at its lowest point in 15 years, the latest evidence of a housing market still far from recovering five years after the housing crash. New figures released Monday by the Census Bureau show the rate of U.S. homeownership fell in the first three months ...
Contracts for US homes rose last month
An index that tracks the number of signed contracts to buy U.S. homes rose to its highest level in nearly two years last month, the latest sign the battered housing market is slowly improving. The National Association of Realtors said Thursday that its index of sales agreements increased 4.1 percent ...
US rate on 30-year mortgage dips to 3.88 percent
The average rate on the 30-year fixed mortgage has dipped to near its record low, keeping home-buying and refinancing affordable. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.88 percent this week, down from 3.9 percent. In February, the rate hit 3.87 percent, ...
SKorea retailers halt US beef sales over mad cow
Two major South Korean retailers pulled U.S. beef from their stores Wednesday following the discovery of mad cow disease in a U.S. dairy cow, although one reversed the decision. Reaction elsewhere in Asia was muted with Japan saying there's no reason to restrict imports. South Korea's No. 2 and No. ...
Foreclosures squeezing US home prices and sales
Rising foreclosures are weighing on the U.S. housing market, reducing prices and keeping new-home sales weak. Foreclosed homes are usually sold at steep discounts, thereby lowering average prices. And by expanding the supply of low-priced previously occupied homes, foreclosures tend to limit demand for new homes. Some economists expect foreclosures ...
US new-home sales off 7 percent in March
Sales of new homes fell in March by the largest amount in more than a year, indicating that the U.S. housing market remains under strain despite some modest signs of improvement. The Commerce Department said Tuesday that sales dropped 7.1 percent in March to a seasonally adjusted annual rate of ...
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