The increases in refinancing and purchasing mortgage options is a good sign that the Fed's interest rate hikes are working, but some warn that will not last.
The taxpayer-owned Fannie Mae paid more than legally required to Bank of America Corp (NYSE: BAC) and 12 other lenders when it spent $1.5 billion in termination fees for servicing rights on 1.1 million loans between 2008 and 2011. The mortgage giant argues that while it paid a premium over the minimum required price, it paid for the transfers at an ?appropriate rate.?
London copper slipped on Monday, but still retained most of the previous session's steep climb to a 4-1/2 month top as a new round of U.S. monetary stimulus measures and a weak dollar continued to support prices.
Asian stock markets posted their biggest weekly gains in almost nine months after the U.S. Federal Reserve announced that it would purchase $40 billion in mortgage-backed securities per month for an open-ended period until the labor market improved substantially.
If sales following the iPhone 5 release date are as high as analysts predict, the Apple smartphone could aid the struggling US economy. .
Ron Paul's campaign against the Federal Reserve had made some headway last summer, but even Republicans who dislike the Fed's decision to start a new round of easing aren't as drastic as him in attacking the central bank
As national elections swing into high gear this fall, one thing is for sure: Politicians from both political parties will be making promises. These promises will be grand in scope, short on specifics, and, unfortunately, likely to produce unintended consequences.
Government-owned Fannie Mae and Freddie Mac, which were set up to help blue-collar and middle-class workers buy their own homes at lower interest rates, are also helping the nation's one percent to purchase luxurious homes.
Asian stock markets rallied to a four-month high Friday after the U.S. Federal Reserve launched another large scale of asset purchase program overnight to stimulate the world's largest economy.
European markets rose Friday as investor sentiment turned positive following the announcement of another round of quantitative easing by the U.S. Federal Reserve.
Crude oil prices advanced in Asian trading Friday, extending overnight rally after the U.S. Federal Reserve launched another round of quantitative easing to rejuvenate the economic growth.
Asian stock markets made gains Friday as investor confidence was lifted following the announcement of another round of quantitative easing by the U.S. Federal Reserve which is expected to rejuvenate the economic growth.
The Fed's decision to increase securities purchases by $40 billion per month - QE3 - exceeded analysts' expectations, and in his press conference Bernanke outlined the central bank's reasons for the move.
Citi Habitats, the city's largest rental brokerage, said Manhattan's residential vacancy rate jumped to a three-year high in August as rents continued to escalate.
The Federal Reserve will begin buying more than $80 billion of securities per month in the third attempt at stimulating the U.S. economy by boosting the central bank's balance sheet.
In the statement, the Federal Reserve announced Thursday it will buy $40 billion per month of mortgage-backed securities, the start of the so-called third round of quantitative easing, QE3. The Fed also said it will continue 'Operation Twist,' bringing total securities purchased per month to $85 billion.
One of the best-performing sectors this year was also one of the hardest hit by the recession: homebuilders, whose stocks have outpaced the broader market with a modest rebound in home prices and increased demand for properties, but much of recovery has unevenly benefited the luxury sector.
The number of U.S. homeowners with negative equity, or underwater mortgages, fell in the second quarter as home prices increased and inventory fell, foreclosure data firm CoreLogic said Wednesday.
Paul Volcker, the former Federal Reserve chairman and a great proponent of new bank regulations, was a key enabler in the rise and eventual collapse of Fannie Mae, the government-sponsored enterprise focused on mortgage financing, according to a new book.
Dubai International is rapidly becoming a major international connection. For ailing Qantas Airways Limited (ASX: QAN) the move of its European hub from Singapore to the UAE will help lower the cost of shuttling travelers back and forth between Melbourne or Sydney and London.
Culture in America is dead, largely because the middle-class does not care about such things.
Rep. Barney Frank, D-Mass., addressed the 2012 Democratic National Convention Thursday night. Here, his remarks as prepared for delivery.
Critics say the event was all bark with no indication of how Republicans will execute the bite -- or, in fact, a dress rehearsal for the next presidential election
Three reports released this week demonstrated positive trends in the U.S. housing market, but experts warn that a real recovery is still months away.
Most of the country's largest merchandisers on Thursday reported solid same-store sales this month.