The U.S. central bank may need to buy more bonds to bolster a housing market whose distress is at the heart of a frustratingly slow economic recovery, a top Federal Reserve official said on Wednesday.
The president of the Federal Reserve Bank of San Francisco said Wednesday the Fed may resume expanding its balance sheet to boost the U.S. economy if the recovery loses momentum or inflation stays below two percent.
Applications for home mortgages jumped last week, fueled by increased demand for refinancing as interest rates fell, an industry group said on Wednesday.
Stock index futures pointed to a slightly higher open for equities on Wall Street on Wednesday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 rising 0.2 to 0.3 percent.
A broad settlement with major banks over mortgage servicing abuses that would bring relief to distressed U.S. homeowners could be announced as early Thursday, two people familiar with the matter said.
Ever since Jordan Hoffart decided to turn his back on the seemingly incessant rain of his native Vancouver, he has been living his dream as a professional skateboarder in the perpetual sunshine of southern California.
As the nation's five largest mortgage lenders edge close to a $25 billion settlement over foreclosure abuses, it's becoming clear that the deal will have little or no impact on their future bottom lines.
As the nation's five largest mortgage lenders edge close to a $25 billion settlement over foreclosure abuses, it's becoming clear that the deal will have little or no impact on their future bottom lines.
As the nation's five largest mortgage lenders edge close to a $25 billion settlement over foreclosure abuses, it's becoming clear that the deal will have little or no impact on their future bottom lines.
Delaware stands to leave up to $40 million in homeowner relief on the table, if it does not join a multi-state mortgage settlement, according to a letter from the state's banking commissioner seen by Reuters on Tuesday.
The Bank of America tower in Atlanta has taken the U.S. foreclosure crisis to new heights. The 55-storey tower, situated in Atlanta, is set to be sold at an open outcry auction Tuesday after landlord Bentley Forbes missed mortgage payments.
The domestic economic evidence in the U.S. has remained upbeat in early 2012, with a much better than expected employment report for January being the latest piece of good news according to the report by IHS Global Insight.
A multi-state mortgage settlement in the works for more than a year will likely be pushed back again as dissident U.S. states continue to press specific concerns and ignore a Monday deadline to decide whether they will sign it.
A multi-state mortgage settlement in the works for more than a year will likely be pushed back again as dissident U.S. states continue to press specific concerns and ignore a Monday deadline to decide whether they will sign it.
Nearly 1 million U.S. homeowners have won permanent reductions on mortgage payments since the Obama administration launched its foreclosure prevention program in 2009, the U.S. Treasury said on Monday, only a fraction of the total it aimed to reach.
Nearly 1 million U.S. homeowners have won permanent reductions on mortgage payments since the Obama administration launched its foreclosure prevention program in 2009, the U.S. Treasury said on Monday, only a fraction of the total it aimed to reach.
