Housing Market, Real Estate | featured news

Banks are foreclosing on America's churches in record numbers as lenders increasingly lose patience with religious facilities that have defaulted on their mortgages, according to new data.

Fannie Mae said it will request $4.6 billion more in government aid after posting a $2.41 billion fourth-quarter loss.

Signed contracts for home resales rose to a nearly two-year high in January, an industry group said on Monday, further evidence of a budding recovery in the housing market.

Sales of new homes dipped in January but the final quarter of 2011 was stronger than first estimated.

U.S. home resales surged in January to a 1-1/2 year high and the supply of properties on the market was the lowest in almost seven years, pointing to a nascent housing recovery.

Relishing a political victory, President Barack Obama said Tuesday that Congress "did the right thing" by extending payroll tax cuts for millions of Americans. He urged lawmakers to push forward on more measures, from assistance to struggling homeowners to increased taxes on the wealthy, saying the looming election was no excuse for inaction in Washington.

The family of a Russian billionaire has bought a New York City penthouse apartment for $88 million....

The number of Americans at risk of foreclosure is declining, as more homeowners climb out of debt and find steady work.

Mortgage rates remained unchanged for the second consecutive week, holding steady this week at an all-time low of 3.87 percent for the average 30-year fixed rate, according to the latest Freddie Mac Mortgage Market survey released Thursday.

The 30-year-fixed mortgage rate held the record low of 3.87% it hit a week ago, while average interest rates on the 15-year-fixed mortgage and other loan products inched higher.