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U.S. home resales edged higher in January and left the supply of homes at its lowest level in 13 years, a sign that steam is gathering in the U.S. housing market.
U.S. homebuilders began work at a slower pace in January than in December, though activity was the third-highest since 2008. The steady pace of construction is a sign of continued strengthening in residential real estate.
The Justice Department and state prosecutors plan to file civil charges against Standard & Poor’s Ratings Service, accusing the firm of fraudulently rating mortgage bonds that led to the financial crisis, people briefed on the plan said.
Consumer advocates have complained that U.S. mortgage lenders are getting off easy in a deal to settle charges that they wrongfully foreclosed on many homeowners....
U.S. builders started work on homes in December at the fastest pace since the summer of 2008 and finished 2012 as their best year for residential construction since the early stages of the housing crisis.
Those who own homes outright include retirees and a surprisingly high percentage of young adults, real estate website Zillow finds.What mortgage meltdown?
A $10 billion settlement to resolve claims of foreclosure abuses by major lenders is expected to be announced on Monday, several people with knowledge of the discussions said.