Housing Market | featured news

The housing rebound stems from more people chasing fewer homes. Interest rates remain near record lows, luring buyers. And investors with cash have poured into the market.

...Critics worry that the FHA is foolishly allowing marginal buyers to get loans just three years after foreclosure with as little as 3.5% down. What's more, the agency doesn't even track how many rebound borrowers it backs. Exactly how much money is hemorrhaging from the agency could be revealed Thursday, when the agency files a self-evaluation report to Congress. Analysts say the FHA could request a bailout from the U.S. Treasury for the first time in its history.

Spain's conservative prime minister and the leader of the opposition aim to agree measures on Monday to stop banks evicting homeowners after a woman's suicide before her property was repossessed caused public outrage.

A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006. The gain reported by CoreLogic offered more evidence of a sustainable housing recovery....

Average mortgage rates in the U.S. were slightly lower over the past week and remained around historic lows, according to mortgage-finance company Freddie Mac.

The $1-billion civil suit alleges that BofA's Countrywide fraudulently deceived mortgage finance giants Fannie Mae and Freddie Mac into believing the company's risky loans were safe and sound.

New U.S. single-family home sales surged in September to the highest level in nearly 2-1/2 years, further evidence the housing market recovery is gaining steam.

U.S. President Barack Obama is urging the Republicans in Congress to pass legislation that would help responsible homeowners refinance their mortgages at historically low rates.

France’s new 75 percent income tax on the rich may not be popular with millionaires. But it’s being cheered by another group: Paris real-estate buyers. Real estate agents say that the number of multimillion-dollar real-estate listings in Paris has jumped more than 25 percent over last year – due in part to the threat of the new income tax. More than 400 new listings have come onto the luxury real-estate market over the past six months, they say.

U.S. builders started construction on homes in September at the fastest rate since July 2008, a further indication that the housing recovery is strengthening and could help the economy grow....