New U.S. single-family home sales slumped to the slowest pace on record in July and orders for costly durable goods were weak, according to government reports on Wednesday that heightened fears the economy was at risk of a new downturn.
Prices of U.S. single-family homes fell for the first time in four months in June, and by an adjusted 1.7 percent from a year earlier, the Federal Housing Finance Agency said on Wednesday.
Mortgage applications rose last week as record low rates lifted demand for home refinancing loans to its highest level in over 15 months, a development that could provide a much-needed jolt to the economy.
Units Sold (in mlns) July June June Prev May July09 Total Existing Homes 3.83 5.26 5.37 5.66 5.14
The cost of insuring the debt of U.S. homebuilders rose on Tuesday after sales of previously owned homes dropped more steeply than expected in July to their lowers pace in 15 years.
Sales of previously owned U.S. homes took a record drop in July to their lowest pace in 15 years, suggesting further loss of momentum in the economic recovery.
Amid the United States housing market's faltering recovery, investors are bracing for more bad news from Toll Brothers Inc and for housing in general when the biggest luxury builder reports quarterly earnings on Wednesday.
A mortgage servicing company's claims that would push responsibility for faulty mortgage loans onto Wall Street titan Morgan Stanley were dismissed by a Delaware court, according to a court filing.
Nearly half of homeowners getting help through the Obama administration's premier housing rescue program have dropped out through July as many failed to document their eligibility, the U.S. Treasury said on Friday.
The Federal Reserve's balance sheet shrank in the latest week, partly due to a decline in its holdings of mortgage-related securities, Fed data released on Thursday showed.
As mortgage delinquencies climb near historic highs, Wall Street is finding new ways to make hay with the assets.
U.S. mortgage rates fell in the past week to the latest in a series of record lows amid concerns about the state of the U.S. economy, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Homeowners were less confident about the value of their homes in the second quarter, with one-third believing home prices had not yet reached a bottom, real estate website Zillow.com said on Thursday.
More than a quarter of Americans currently renting houses and apartments have no intention to ever buy a home, according to a survey published on Wednesday.
For local governments in the United States, the housing crisis is far from over.
In March of 2000, American homeowners got a scare.
Fannie Mae and Freddie Mac should be abolished rather than reformed as part of the Obama administration's planned overhaul of the government's role in housing finance, Rep. Barney Frank, chairman of the House Financial Services committee, said on Tuesday.
Mortgage applications leaped last week as rock-bottom rates lifted demand for home refinancing loans to its highest level in 15 months, the Mortgage Bankers Association said on Wednesday.
Home building increased at a much weaker pace than expected in July, though sturdy growth in industrial output implied the embattled economy has enough strength to keep growing.
Influential bond investor Bill Gross dispensed more policy advice than the U.S. Treasury bargained for on Tuesday, calling for a massive program to refinance mortgages at low rates to boost the flagging economy.
The U.S. government's role in housing finance should undergo fundamental change, but it should still provide some guarantees in the mortgage market, Treasury Secretary Timothy Geithner said on Tuesday.
Home-builder sentiment unexpectedly fell for a third straight month in August to its lowest level in nearly 1-1/2 years, according to a survey on Monday that pointed to a weak housing market.
The Federal Reserve and other top regulators said on Monday reverse mortgages pose compliance and reputation risks for lenders, and offered guidance to financial firms on how to avoid such pitfalls.
The housing market should skirt another major downturn, even though stubbornly high unemployment and foreclosures will curb demand and keep home prices mostly flat through 2011, a Reuters poll showed.
Home loan demand climbed last week but record low mortgage rates failed to light a fire in a market constrained by unemployment and tight lending practices.
Owners cut prices on one-quarter of U.S. homes listed for sale in July, a fourth straight monthly rise, as job market fallout trumped record low mortgage rates, real estate website Trulia.com said on Wednesday.
Mortgage finance giant Freddie Mac (FMCC.OB) on Monday said it would need another $1.8 billion in aid from taxpayers, bringing its total request since it was taken over by the government two years ago to more than $64 billion.
A smaller percentage of U.S. homeowners were saddled with underwater mortgages in the second quarter as more homes entered the foreclosure process even as price declines slowed, real estate website Zillow.com said on Monday.
Mortgage rates fell in the past week to the latest in a series of record lows amid concerns about the state of the economy, according to a survey released on Thursday by Freddie Mac.
As many as 50,000 struggling homeowners in five U.S. states with high unemployment may receive help from a special $600 million federal fund intended to head off foreclosures.
