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30-Year Mortgage Rates At Record Low 3.79 Percent
Average U.S. rates for 30-year and 15-year fixed mortgages fell to record lows for the third straight week. The rate on the 30-year loan dipped to 3.79 percent. The 15-year mortgage, a popular option for refinancing, declined to 3.04 percent.
Housing Construction Up 2.6 Percent In April
Builders broke ground at a seasonally adjusted annual pace of 717,000 homes last month. Construction rose for both single-family homes and apartments. Building permits, a gauge of future construction, fell 7 percent because of a sharp drop in applications to build apartments.
Homebuilders' Confidence Index At 5-Year High
An index that measures builders' sentiment rose to the highest level since May 2007, a sign that the housing market may continue to improve. Homebuilders reported improving sales and higher traffic from prospective buyers this month.
Bank Of America Offers To Cut Mortgage Principal
Bank of American is giving about 200,000 homeowners a chance to wipe out a big portion of their mortgage debt. It's part of a the settlement the bank and others reached with state and federal regulators earlier this year.
Live beach conditions 24 hours a day from the Tides Hotel on Folly Beachs surf cam
Gibbes Museum of Art Names John Westmark Winner of the 2012 Factor Prize for Southern Art
Should Banks Maintain Abandoned Properties?
Chicago has dug in its heels on a new city ordinance that puts banks on the line for securing and maintaining vacant homes. But the federal government, on behalf of mortgage backers Fannie Mae and Freddie Mac, is fighting the law in a test case that could affect other cities, too.
Time To Trade The Lease For A Mortgage?
Falling prices and low interest rates are making it even cheaper to buy a house these days. And rising rents in many areas make it more tempting to take the plunge. According to the Census Bureau, the national homeownership rate is at a 15-year low.
Some Housing Markets Rebound, But Bargains Scarce
The real estate market has turned around in some parts of the U.S., but many buyers aren't seeing true bargains any more. Investors are driving up prices, and inventory is low, especially for homes priced under $250,000. That's not great news for anyone hoping to buy an affordable house to live in.
Contracts To Buy Homes Up; Mortgage Rates Dip
Contracts to buy homes rose in March, the latest sign the battered housing market is slowly improving. The National Association of Realtors index of sales agreements increased 4.1 percent to the highest level since April 2010. And the average rate on 30-year fixed mortgages dropped to 3.88 percent this week.
For Some, 'Frustration' Over Mortgage Settlement
Earlier this month, a judge approved a $25 billion settlement between five major banks and nearly all of the state attorneys general over shortcuts lenders took to push through some foreclosures. Housing counselors say the deal has yet to make an impact in communities around the country.
New Home Sales Drop After Big Revision
Sales fell 7.1 percent in March, the largest amount in more than a year. The Commerce Department says sales dropped to a seasonally adjusted annual rate of 328,000 units. That reversed a 7.3 percent increase in February, which originally was reported as a 1.6 percent gain.
Home Prices Drop Again In Most Big Cities
Prices fell in most major U.S. cities for a sixth straight month, a sign that modest sales gains haven't been enough to boost prices. The Standard & Poor's/Case-Shiller home-price index shows that prices dropped in February from January in 16 of the 20 cities it tracks.
Survey: Builders Less Confident In Housing Market
Their outlook dimmed in April after six months of rising or steady confidence. The decline suggests the housing market remains weak despite modest gains. The National Association of Home Builders said Monday that its builder sentiment index fell last month.
Hoping For Payout, Investors Become Landlords
With the huge supply of foreclosed homes, the rental housing market is becoming increasingly dominated by investment companies — not the mom-and-pop operations down the street that used to fill that role. Some experts worry about what kind of landlords the companies will make.
We Stand At The Doorstep Of A Foreclosed House. Then We Go In
We tag along with a real estate agent whose job is to investigate a foreclosed house in Florida.
U.S. Foreclosure Activity Near 5-Year Low
More U.S. homes are entering the foreclosure process, setting the stage for a surge in properties repossessed by lenders this year. Even so, foreclosure activity overall sank in March to the lowest level since July 2007, RealtyTrac said.
<span>Reporter's Dream: A Mansion Straight Out Of 'Please Don't Eat the Daisies'</span>
Where could a newspaper (or radio) reporter pick up a mansion/castle like the one David Niven and Doris Day take over in Please Don't Eat the Daisies?
Fannie, Freddie Weigh Mortgage Write-Downs
Some economists say the government-run enterprises should be allowed to help distressed homeowners by lowering their loan principals to reflect today's lower values. But critics of the move say it would cost taxpayers money and encourage strategic defaults.
New Rules Aim To Help Borrowers Avoid Foreclosure
The Consumer Financial Protection Bureau's proposed rules would require mortgage servicers to give all borrowers standardized monthly statements and warn borrowers about interest rate or insurance changes.