In the face of a 16-day government shutdown, Americans were buying new homes at a brisk pace in October, ringing up the sector's largest monthly gain in more than 33 years.
U.S. home prices rose only modestly in October, real estate data provider CoreLogic said Tuesday, adding to signs that prices have stabilized after experiencing big gains earlier this year.
U.S. finance giant Bank of America said Monday it would pay $404 million to settle all claims brought by the Federal Home Loan Mortgage Corp., commonly known as Freddie Mac and Fannie Mae.
Pending home sales continued to move lower in October in the face of limited inventory and decreased affordability, according to a national real estate group.
Existing-home sales declined for the second month in a row in October, while tight inventory means continued double-digit gains in home prices, the National Association of Realtors said.
Shares of homebuilders were trading lower on Friday, as better-than-expected job data triggered concerns that the Federal Reserve could roll back stimulus efforts that have helped keep mortgage interest rates near historic lows.
Fannie Mae and Freddie Mac are profitable again, paying dividends to the Treasury and nearing completion of paying back their government bailouts.
A measure of U.S. home prices rose only slightly in September from August, a sign that prices are leveling off after big gains earlier this year.
Institutional investors, who turn single-family homes into rentals, accounted for about one in four home sales in Atlanta, Las Vegas, St. Louis and Jacksonville, data from RealtyTrac show.
Mortgage rates hit their lowest levels in four months this week, Freddie Mac said Thursday, as speculation grew that the Federal Reserve will continue its bond-buying stimulus plan through the end of the year.
The standards to get a home loan remain tight, mortgage experts say, but lenders are reducing down payment and FICO score requirements as housing prices recover and as higher interest rates curtail their refinance business.
The FHFA's House Price Index rose 0.3 percent in August with prices now higher for 19 consecutive months, the agency said.
Sales of existing U.S. homes slipped off of a nearly four-year peak in September, dropping 1.9 percent, the National Association of Realtors said Monday.
A summerlong cool-down in the pace of home value appreciation is helping a handful of markets step back from the edge of bubble territory, according to the third quarter Zillow Real Estate Market Reports.
Bank of America was quicker than its big-bank peers in extending help to delinquent borrowers under a massive legal settlement, but lagged behind in helping its customers refinance.