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  • WASHINGTON — Making a case for a second term as head of the Federal Reserve, Ben Bernanke said Thursday that he has the tools and the political backbone necessary to reel in massive economic support once the recovery is firmly rooted.

    While widely crediting with helping keep the Great Recession from becoming a second Great Depression, Bernanke faces enormous anger from both Congress and the public for bailing out Wall Street, while ordinary Americans are struggling under the crush of high unemployment, stagnant incomes and rising foreclosures.

  • WASHINGTON  — The average interest rate for a 30-year mortgage dropped to a record low of 4.71 percent this week, pushed down by an aggressive government campaign to reduce borrowing costs.

    The rate, published Thursday by Freddie Mac, is the lowest since the mortgage finance company began tracking the data in 1971. The previous record of 4.78 percent was set during the week ending April 30 and matched last week.

  • It will pay a hefty price for its debt woes. But the city-state's open economy has attracted legions of foreign investors and serves as a model for its Gulf neighbors
  • Nearly 2.7 million homeowners this year have received mortgage modifications or repayment plans, independent of those helped ...

  • Companies have issued more than $2.8 trillion in bonds this year, a clear sign credit conditions have eased.
  • The stock market struggled as investors got further confirmation that the economy is improving while shares of banks and energy ...

  • The Administration's mortgage-modification program may lack the financial heft to make it worthwhile for banks to offer homeowners meaningful change
  • General Growth filed a bankruptcy plan to restructure $9.7 billion in mortgage loans.
  • London's West End can once again lay claim to the dubious distinction of being the world's most expensive office market after its rental prices surged past those in the inner central district in Tokyo.
  • The economic recovery seems on track for slow but steady gains after reports Tuesday showed growth in manufacturing and construction.

  • WASHINGTON - With the foreclosure crisis showing no signs of relenting, the Obama administration plans to expand a program aimed at helping people remain in their homes.
  • PHOENIX - Arizona legislators responded quickly last June when bankers complained that investor-builders were abusing a post-foreclosure protection intended for homeowners.
  • WASHINGTON - Sales of new homes rose more than 6 percent in October.
  • McLEAN, Va. - Average rates for 30-year fixed mortgages fell this week, matching a record low set last spring and more than a full percentage point below what they were a year ago, Freddie Mac said Wednesday.
  • WASHINGTON - Sales of new homes are expected to post a modest increase in October, reinforcing data this week that showed the real estate market is regaining its footing after a dramatic collapse.
  • WASHINGTON - The apparent end of the recession and stabilizing financial markets have not cured the banking industry, as souring and past-due loans have reached the highest levels in 26 years, the Federal Deposit Insurance Corp. said Tuesday.
  • Reports Tuesday continued to suggest moderate, although bumpy, growth for the economy.

  • The number of U.S.
  • Stocks headed toward a higher open Tuesday as investors await reports on manufacturing and home sales for more evidence on the ...

  • NLIHC calls on Congress, Administration to address shortage through National Housing Trust Fund

    The shortage of housing that is affordable for the lowest income families grew significantly between 2007 and 2008, according to an analysis of 2008 American Community Survey data done by the National Low Income Housing Coalition (NLIHC). In 2007, the shortage of homes affordable for extremely low income renter households (those earning 30% or less of their area median income) was 2.7 million. The shortage grew to 3.1 million homes in 2008.

  • The Obama Administration threatens unspecified 'consequences' for mortgage servicers that have been slow to ease mortgage payments for troubled homeowners
  • A chain and padlock take the place of door knobs and locks on a foreclosed home in the Bronx, N.Y.</div>
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    WASHINGTON - Remember the economy's return to growth last quarter?
  • Like many home owners, hotels are starting to drown in debt.

    They have been enticing travelers all year with sweet deals: credits for in-house spas and restaurants, up to 50 percent off five-star rooms, even free nights.

    But all that discounting hasn't stopped occupancy from dropping an average of 10 percent. The result? Hotel loans have begun falling into delinquency faster than any other kind of commercial real estate debt.

  • We're nowhere near boom-time numbers, but real estate investors are responding to rock-bottom prices and plunging into their local markets at more than double the rate they did barely seven months ago. That's the finding of a new study based on interviews with a nationally-representative sample of more than one thousand property buyers.
  • It can be one of the hardest things to do -- save money for your first home. But now, more than ever, there's incentive to buy. Government housing tax credits have been extended and that's sparking buyers' interest.
  • Agribusiness and global investors are scooping up land. Are they the new colonialists?

    Farmland in developing countries has become an unlikely object of investor fascination. Goldman Sachs (GS), and Morgan Stanley (MS) are each raising hundreds of millions of dollars for agriculture funds aimed at Africa and Latin America. Agribusinesses in the U.S. are leasing vast tracts of African land from which they expect to export crops and glean healthy returns. Arab oil countries, meanwhile, are vying for fertile acreage for fear their homelands are running out of water.

  • Despite commercial property value declines of 42.9% from peak 2007 levels, the news is about to get even worse for owners, according to Moody’s Investors Service. In the coming months, Moody’s expects values to fall by as much as 55% from the peak before rebounding.

  • Three reports delivered mixed news on the economy heading into the Thanksgiving holiday: The good newes is that Unemployment ...

  • In some homeowner associations, the number of owners who rent their units is extraordinarily high, sometimes even outnumbering resident owners. With absentee owners and just a few irresponsible renters, there may be a move by the board to limit or eliminate rentals altogether. What things should be considered?
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