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Home loan demand nudges higher in latest weekReuters - 3/10/2010 10:00:52 AM
Reuters - U.S. mortgage applications nudged higher last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.
Nationalized UK bank Northern Rock back in profitAP - 3/10/2010 3:47:59 AMAP - Nationalized mortgage lender Northern Rock said Wednesday that it returned to profit in the second half of 2009 as interest income rose and losses on loans fell.
Commercial delinquency lower than other mortgagesAP - 3/9/2010 2:41:53 PMAP - Commercial mortgages were among the best-performing loans and leases held by banks and thrifts in the fourth quarter of last year, the Mortgage Bankers Association said Tuesday.
Glincher Realty alters credit facility termsAP - 3/8/2010 6:40:22 PMAP - Real estate investment trust Glimcher Realty Trust said Monday it has extended and changed its agreement for its $470 million unsecured credit facility with its lenders, including KeyBank National Association and Bank of America NA.
More work ahead on housing market: TreasuryReuters - 3/8/2010 3:03:13 PMReuters - The Obama administration has more work to do to help struggling U.S. homeowners, despite signs of a stabilizing housing market, a senior Treasury official said on Monday.
Treasury restates support for Fannie, FreddieAP - 3/5/2010 4:51:40 PMAP - The Treasury Department was forced Friday to reiterate its financial support for Fannie Mae and Freddie Mac after a key lawmaker rattled investors by pointing out that their debt does not enjoy the explicit guarantee of the federal government.
Lawmaker is working to improve loan modificationsAP - 3/5/2010 2:23:45 PMAP - A key lawmaker is working with banks, regulators and the Obama administration on a new way to boost the government's struggling foreclosure prevention effort by encouraging banks to reduce the total amount borrowers owe.
Payrolls data buoy job creation hopesReuters - 3/5/2010 4:46:03 PMReuters - U.S. employers cut fewer jobs than expected during snow-battered February and the unemployment rate held steady at 9.7 percent, bolstering views the economy was on the brink of creating jobs.
Foreclosures Down The Road May Offer Investors Better DealsInvestor's Business Daily - 3/4/2010 6:06:00 PMInvestor's Business Daily - Housing markets rife with foreclosures can still present great deals for investors, but also stiff competition and pitfalls for the inexperienced.
Mortgage rates fall below 5 percentAP - 3/4/2010 5:39:26 PMAP - Mortgages rates have dipped below 5 percent again, four weeks before a government program that is helping keep rates low is scheduled to run out.
California GOP U.S. Senate race focusing on . . . Israel?McClatchy Newspapers - 3/4/2010 3:17:00 PMMcClatchy Newspapers - WASHINGTON — California is broke, its 12.1 percent unemployment rate is among the highest in the nation, housing prices have plunged, home foreclosures have skyrocketed and a drought is threatening the state's dwindling water supply. There also are plenty of other issues for would-be U.S. senators to debate, including the battered economy and a massive effort to overhaul the nation's health care system.
AIG units settle mortgage discrimination caseReuters - 3/4/2010 2:59:57 PMReuters - Two AIG units settled federal charges that they discriminated against black home buyers on fees for mortgages and will pay $7.1 million for restitution and education efforts, the U.S. Justice Department said on Thursday.
Trustee sues ex-Thornburg Mortgage execs for theftReuters - 3/4/2010 2:51:58 PMReuters - Four top executives of Thornburg Mortgage improperly paid themselves handsome bonuses just before the mortgage lender filed for bankruptcy last year, and stole money and ideas from Thornburg to secretly launch a new firm, the bankruptcy trustee in charge of liquidating the lender alleged in a lawsuit.
KB Home says Burkle won't run for new board termAP - 3/4/2010 2:13:48 PMAP - Homebuilder KB Home said Thursday that billionaire investor Ron Burkle will not stand for re-election to the company's board at its next annual meeting.
The Future of Home-Price AppreciationU.S. News & World Report - 3/4/2010 11:18:36 AMU.S. News & World Report - After its historic decline brought the global economy to its knees, the U.S. housing market is gearing up for a long-awaited recovery. Real estate experts expect home prices to hit bottom in late 2010 or early 2011 before--finally!--heading north again. But what shape will the rebound take? Are we in for another boom? Or will we have to settle for sluggish growth? Here's the outlook for home price appreciation through 2020.
Pending home sales fall 7.6 pct. in JanAP - 3/4/2010 11:10:26 AM
AP - The number of buyers who agreed to purchase a home fell sharply in January, a sign that demand for housing is sinking this winter as stormy weather slammed Eastern states.
Pending home sales unexpectedly plungeReuters - 3/4/2010 10:06:49 AM
Reuters - Contracts for pending sales of previously owned homes unexpectedly fell in January, a survey showed, brought down in part by harsh weather in the U.S. Northeast.
S&P, Fitch lift Masco ratings outlook to "stable"AP - 3/3/2010 5:39:23 PMAP - The ratings outlook for building products manufacturer Masco Corp. was lifted Wednesday to "Stable" from "Negative" by both Fitch and Standard & Poor's analysts, a reflection of an improving housing market.
Hovnanian CEO: Glut of unsold homes easingAP - 3/3/2010 4:11:38 PMAP - The CEO of Hovnanian Enterprises Inc. said a modest surge in foreclosures this year wouldn't have a devastating effect on the homebuilder's sales.
Freddie Mac prices $5.5 billion in 3-year notesAP - 3/3/2010 2:15:58 PMAP - Government-owned mortgage finance company Freddie Mac on Wednesday priced $5.5 billion in three-year reference notes.