Housing Market | featured news

A bellwether index of subprime mortgage bonds rallied, a day after the New York Fed suspended further auctions of so-called Maiden Lane II securities acquired in the AIG bailout.

Often blamed for helping to create the U.S. housing boom and crash by driving up prices, investors are now being welcomed as a key support for the battered property market.

Bank of America Corp is close to a deal to pay $8.5 billion to settle claims from investors that lost money on mortgage-backed securities, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Home prices in major U.S. cities have risen for the first time in eight months, boosted by an annual flurry of spring buyers.

A backlog of foreclosures and falling sales indicate prices may decline further, discouraging builders from taking on new projects.

Investors who were misled into purchasing complex mortgage securities just before the housing market collapsed will receive all their money back.

JPMorgan Chase & Co has pushed out its head of home lending, David Lowman, who was sidelined in February after the bank racked up billions of dollars in losses on soured mortgages and became mired in litigation over a wave of foreclosures.

U.S. bank regulators said they will give 14 financial institutions an additional 30 days to submit plans to fix problems with their home-foreclosure practices, allowing more time to complete a broader settlement with state and federal agencies.

Refinancing can be a great way to save money, but it's not a sure thing. Before you take the plunge, ask yourself these six questions to avoid making a major money mistake.

Proposed rules sparked by the financial industry meltdown could have the effect of shutting many lower-income buyers out of the mortgage market, critics say.