A leading indicator of existing-home sales edged up 0.4% in June, and it could be a sign that sales are leveling off after a 10% decline since last summer, according to the National Association of Realtors.The NAR's pending sales index rose from 113.5 in May to 113.9 in June. It was the second consecutive monthly increase in the index, which is off 9.6% from the level recorded in June 2005. NAR chief economist David Lereah said the small rise in the index is "good news" and indicates that sales are "stabilizing" or leveling off. He also said the index and other indicators are showing that the housing market is still in transition and "striving for balance" -- which could take several months.
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The RMBS notes benefit from geographic diversity and credit enhancement.
8h ago -
A Consumer Financial Protection Bureau "waives any alleged noncompliance" by the mortgage company while continuing to dole out redress to borrowers.
8h ago -
Refinance apps made up more than 40% of all mortgage applications last week, driving an uptick as consumers seek out cheaper mortgage payments.
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The chairman and regulator of Fannie Mae and Freddie Mac pointed to Jermone Powell's recent testimony about renovations to the Federal Reserve's headquarters.
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It's a rare theft of trade secrets complaint by the industry leader, which stayed out of the spate of litigation between competitors during the refinance boom.
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Navy Federal Credit Union will not pay a $15 million fine or $80 million in restitution to service members who were illegally charged surprise overdraft fees when their accounts had sufficient funds.
July 2