The recession and housing crash have triggered a sharp decline in the share of American households who own their own home. Homeownership, which is at its lowest point in 15 years, is bound to fall even further, driven by tight credit, lackluster economic growth and more foreclosures.
Bank of America's second-quarter earnings reversed a year-earlier loss and beat analyst expectations on higher mortgage income, improved credit quality and the absence of good will impairment charges.
The nascent U.S. housing recovery could be concealing another financial time bomb: home equity loans.
Nigerian authorities served Makoko residents with an eviction notice last week. They were given only 72 hours to leave their homes before demolition forces moved in.
The head of the world's most powerful central bank said it stands ready to offer additional monetary support to a U.S. economy that has slowed significantly in recent months, U.S. Federal Reserve Chairman Ben Bernanke told lawmakers on Tuesday.
Bank of America Corp. (NYSE:BAC), the troubled financial behemoth that teetered just above the abyss during the last few weeks of 2011 and has since made somewhat of a recovery, is expected to swing to profit when it reports quarterly financial results Wednesday morning.
The internal memo, written by outgoing Executive Chairman Marcus Agius, added that customers, clients, shareholders and regulators all have a right to feel let down.
Luxury homeowners are panicking at the prospect of paying millions of dollars more in capital gains taxes from next year. Their soaring desperation could eventually cripple housing prices.
When San Franciso-based Wells Fargo & Company (NYSE:WFC), releases quarterly results Friday morning, analysts will be examining the corporate filing for hints as to the state of the U.S. housing market.
A Spanish activist group fighting against bank-ordered evictions has stepped up its protest activity and embraced law-breaking -- and sometimes violent -- methods to stop the physical removal of families from their homes.
A Massachusetts man made good on a promise to make his last mortgage payment on his home with pennies.
The pace of bankruptcy filings in the U.S. is slowing down to pre-recession levels, but don?t cheer just yet ?because hundreds of thousands of Americans might have been too broke to file for bankruptcy.
During the second quarter, average rents increased to record levels in 74 of the 82 U.S. markets tracked by real estate data firm Reis Inc. (NYSE: REIS), according to a report released Thursday. A number of factors are driving the trend.
U.S. 30-year fixed-rate mortgages fell to a record low of 3.62 percent, its 10th such weekly record low in the last 11 weeks, following weak economic data, mortgage financier Freddie Mac said Thursday.
U.S. mortgage interest rates for 30-year, fixed loans are at/near 40-year lows. Further, while there's nothing like owning a home, for several reasons 'this is not your father's housing market.' There are pitfalls and pratfalls, and prospective buyers would be wise to review these five tips before taking the plunge.
The Indian division of the U.S.-based Citibank Tuesday reported a 35 percent rise in its net profit in 2011-2012 fiscal year, driven by robust growth in their corporate and retail banking and mortgage businesses, the bank said in a statement.
California, the state with the second most foreclosures by volume, has passed one of the strongest laws in the country seeking to protect homeowners from improperly losing their homes.
The top after-market NYSE gainers Friday were: SAIC, EXCO Resources, Talisman Energy, Furmanite Corp and Owens-Illinois. The top after-market NYSE losers were: Sanchez Energy Corp, Anworth Mortgage Asset Corp, Schawk, Tahoe Resources and Ultra Petroleum Corp.
For the first time in over a decade, Iceland's longtime incumbent of 15 years President Olafur Ragnar Grimsson has a viable candidate facing him for reelection this Saturday - a former television reporter who recently gave birth to a baby girl.
The Institutional Revolutionary Party is poised to retake power on Sunday after a decade out of power, led by the charismatic presidential candidate Enrique Peña Nieto. Would a change mean a much different relationship with Mexico's big neighbor to the north?
The Federal Housing Administration (FHA) won't adopt a new restriction that could have prevented thousands of prospective home buyers from obtaining low-cost mortgages.
A wave of retiring U.S. baby boomers may lead to an increase in unconventional loans known as reverse mortgages in coming years, but the practice comes with risks, according to a report released Thursday by the Consumer Financial Protection Bureau.
