Yahoo! News: Business - Real Estate
Business - Real Estate
US home foreclosures jump 14% in 2nd quarter: survey
(AFP)
AFP - US home foreclosures leapt nearly 14 percent in the second quarter from the previous quarter, research group RealtyTrac said Friday in a sign of deepening housing woes.
Foreclosures rise 14 pct in Q2: RealtyTrac
(Reuters)
Reuters - Home foreclosure filings rose 14
percent in the second quarter, the eighth consecutive quarterly
climb, and more than doubled from the same period a
year-earlier, real estate data firm RealtyTrac said on Friday.
Senate on course to vote Saturday on housing bill
(Reuters)
Reuters - The Senate was on course for a
Saturday vote to approve a major housing market rescue bill
with a lifeline for Fannie Mae and Freddie Mac and bond market
action on Thursday indicated investors in the two mortgage
finance giants were encouraged.
IBD's Top 10 - Thursday
(Investor's Business Daily)
Investor's Business Daily - 1 Disappointing existing-home sales data chilled stocks, especially builders and financials. The NYSE composite fell 2.5% and the Dow 2.4%, their worst drops since June 26. The S&P 500 skidded 2.3% and the Nasdaq 2%. Russia's Mechel led a rout in metals. But volume fell. The 10-year Treasury yield fell 13 ticks to 4.01%. More on B1, B2
Home Sales Sink To New Low As Job Market Weakens
(Investor's Business Da...
Investor's Business Daily - Sales of existing homes fell more than expected in June to their lowest level in at least nine years, the National Association of Realtors said Thursday, as buyers showed little interest amid falling real estate prices and uncertainty about jobs and the economy.
Economy - Thursday
(Investor's Business Daily)
Investor's Business Daily - Home loan rates rose sharply over the past week amid inflation fears, a rebound in stocks and Treasury yields, and tighter credit standards. The 30-year fixed-rate mortgage rose to 6.63% for the week ended July 24 from 6.26% a week ago, said Freddie Mac. It's the 8th straight week over 6%. The 15-year fixed-rate mortgage rose 40 basis points to 6.18%. The 5-year Treasury-indexed adjustable-rate mortgage jumped to 6.18%, while the 1-year ARM was up to 5.49%.
Copper slumps to 5-week low on weak Chinese demand
(AP)
AP - Copper prices tumbled to a five-week low Thursday on expectations that falling demand from China and a slowdown in the U.S. housing market will lead to a surplus of the metal.
The slump persists: Home sales tumble across US
(AP)
AP - Sales of existing homes tumbled more sharply than expected in June, pushing activity down to the lowest level in more than a decade.
Jobless claims jump as housing market gets weaker
(AP)
AP - Two cornerstones of the economy — jobs and housing — sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record.
Home sales at 10-year low, jobless claims jump
(Reuters)
Reuters - Jobless claims jumped and the pace
of existing home sales tumbled to a 10-year low as slowing
growth hit hiring and a glut of unsold houses weighed on real
estate, data released on Thursday showed.
French construction group plans 4,000 job cuts
(AFP)
AFP - French construction group Saint-Gobain said Thursday it would cut 4,000 jobs this year, mostly in Britain, Spain and the United States, as part of a cost-cutting drive in the face of a sharp downturn in the housing market.
All types of mortgages see rate increases
(AP)
AP - Mortgage rates shot up this week with 30-year mortgages climbing to the highest level in nearly a year, reflecting concerns in financial markets about the troubles at corporate giants Fannie Mae and Freddie Mac.
US rescue of Fannie, Freddie 'right direction': IMF
(AFP)
AFP - The International Monetary Fund on Thursday welcomed the US government's plans to aid mortgage finance giants Fannie Mae and Freddie Mac and ease the housing crisis.
US home sales slip another 2.6 percent
(AFP)
AFP - US home sales fell another 2.6 percent in June as inventories rose and prices fell with buyers still hesitant in the face of a horrific market slump, industry data showed Thursday.
Pimco: $1 trillion housing losses seen
(Reuters)
Reuters - The best way to help the ailing
housing market recover from the $1 trillion of losses it faces
will be to cut the cost of mortgages via the housing bill and
rescue package for mortgage finance giants, the manager of the
world's biggest bond fund said on Thursday.
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