Housing Market | featured news

Fixed mortgage rates fell once again to a record low, offering a great opportunity for those who can afford to buy or refinance homes. But few are able to take advantage of the historic rates.

How big a whack did your credit score take during the grim years of economic distress following the housing bust? Was it 20 points, 50 points, 100 points — or maybe no drop at all? These are key questions affecting millions of potential home buyers who hope to qualify for mortgages as well as current owners looking to refinance. New research from a major credit-risk evaluation company suggests that the drop in huge numbers of Americans’ scores was dramatic.

2012 looks to be another year of opportunity for the few who can afford to buy or refinance a home.

With U.S. unemployment at a lofty 8.6 percent, home foreclosures rising and property prices under pressure, more and more Americans have given up the dream of owning, opting instead to rent, a shift that is remaking the face of the U.S. housing industry.

A monthly survey showed consumers’ confidence in the economy surged in December and was near a post-recession peak, although home prices fell in October in most major U.S. cities.

The Justice Department is expected to announce Wednesday a settlement with Bank of America Corp. that resolves accusations that its Countrywide Financial unit engaged in discriminatory mortgage-lending practices, according to a person familiar with the matter.

Stocks are surging following encouraging signs out of Europe and a jump in apartment building in the U.S. The Dow Jones industrial average jumped more than 300 points....

Housing starts and permits for future construction jumped to a 1-1/2 year high in November as demand for rental apartments rose, suggesting the housing market was starting to recover.

The Securities and Exchange Commission has brought civil fraud charges against six former top executives at Fannie Mae and Freddie Mac, saying they misled the government and taxpayers about risky subprime mortgages the mortgage giants held during the housing bust....

Fixed mortgage rates in the U.S. touched historic lows over the past week, with the 30-year home loan returning to its record trough of 3.94%, amid troubling reports on the state of the housing market.