Jan 10, 2013 7:46am

New Ban on Risky Home Mortgage Loans

Morning Business Memo… New rules announced today are aimed at preventing the return of high-risk no-document home loans that contributed to the collapse of the housing market. For the first time federal regulators are laying out rules to ensure borrowers can afford to pay the… Read More »

Nov 27, 2012 11:40am

Home Prices Rise Sixth Month in a Row

U.S. home prices rose again for the sixth straight month, signaling that the housing recovery is taking hold, according to S&P/Case-Shiller Home Price Indices. “With six months of consistently rising home prices, it is safe to say that we are now in the midst of a… Read More »

Nov 23, 2012 6:00am

Home Sweet Shipping Container: Detroit Housing Project

The first U.S. multi-family condo built of used shipping containers is slated to break ground in Detroit early next year. Strong, durable and portable, shipping containers stack easily and link together like Legos. About 25 million of these 20-by-40 feet multicolored boxes move through U.S…. Read More »

Nov 21, 2012 10:48am

Mortgage Rates Drop to Record Low Again

Fixed mortgage rates dipped to a record low for the second consecutive week as borrowing costs remain low to support the housing recovery. The 30-year fixed-rate mortgage fell to 3.31 percent for the week ending Nov. 21, from last week’s 3.34 percent and a year… Read More »

By Bill McGuire

Nov 20, 2012 10:20am

Housing Starts Surged 3.6 Pct in October

The Commerce Department reported today that housing starts rose 3.6 percent in October to an annual pace of 894,000, the best rate in more than five years. Superstorm Sandy had a “minimal” effect on residential construction for October, the Commerce Department said, though the storm is expected… Read More »

Nov 15, 2012 11:24am

Mortgage Rates Fall to New Low of 3.34 Pct

Average rates on fixed mortgages fell to new record lows. Freddie Mac says the rate on a 30-year loan dropped to 3.34 percent. That’s down from the previous record low of 3.36 percent set on October 4, which was the lowest since long-term mortgages began… Read More »

By Bill McGuire

Oct 30, 2012 3:01pm

Home Prices in 20 Cities Post Strong Gain

The housing market continued to show strong signs of recovery, with residential real-estate prices rising an average of 2 percent in August in 20 key markets. The S&P/Case-Shiller index released today showed the biggest year-to-year gain since July 2010.  In July, the index was up 1.2… Read More »

Oct 24, 2012 11:35am

New Home Sales Climb 5.7 Pct in Sept.

Today there is yet more evidence of a healing housing market.  New homes sold in September at the fastest rate since April 2010, when sales were boosted by a tax credit for first-time homebuyers. The Commerce Department says sales increased 5.7 percent to a seasonally… Read More »

Oct 19, 2012 11:42am

Home Sales on Track as Prices Rise

A new report shows a slowly healing housing market, over its darkest days but not yet completely healthy.  Existing home sales– the biggest chunk of the housing market–came in as expected at a seasonally adjusted annual rate of 4.75 million in September, according to the… Read More »

By Abby Ellin

Oct 19, 2012 8:04am

Canadian Town Sells $10 Plots of Land

Got an extra ten bucks?  If so, you, too, could be the owner of a sparkling new plot of land in Reston, a rural prairie town in southern Manitoba bordering Saskatchewan on the west and North Dakota on the south. In an effort to jump… Read More »