Existing-home sales rose 1% in March to 6.89 million units on an annualized basis, matching the third-highest reading on record, according to figures compiled by the National Association of Realtors.The trade group said overall "economic improvements" are aiding the housing market. The NAR credited historically low mortgage rates and gains in employment for the strong performance. "There's no question there is a strong demand for housing from a growing population," said NAR chief economist David Lereah. Greenwich Capital analyst Steve Stanley noted that demand for homes "remains torrid." Greenwich said it believes Tuesday's new-home sales report for March may post a sharp decline, but only because poor weather conditions may have affected building. In March 2004 resales totaled 6.57 million units on an annualized basis. The NAR can be found online at http://www.realtor.org.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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