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A federal relief effort that set aside nearly $2 billion in housing aid for troubled Californians is being expanded to help older homeowners avert foreclosures on their reverse mortgages.

Mortgage rates for 30-year loans rose to a seven-week high, increasing borrowing costs from close to historic lows.

Freddie Mac will return $900 million to the Treasury Department next month, bringing total payments to nearly $21 billion above what it received in federal aid after the 2008 credit crisis.

As the real estate market rebounds in the Grand Canyon State's capital, one credit union here reports that a new mortgage program is attracting significant new lending business.

Mortgage servicer PHH Corp. posted a net loss in the fourth quarter, as its mortgage production and servicing segments both struggled as the year ended.

Foreclosures and delinquencies may seem like problems from the past, but servicers are still struggling with a massive backlog of distressed loans and a return to normalcy is at least two years away, if not longer.

As a deep freeze grips parts of America in a typically slow season for housing, first-time buyers are flocking to Redfin Corp.'s property tours and classes, signaling their renewed interest in the market.

Builders broke ground on fewer residential construction projects in January as demand for single-family homes cooled from an almost seven-year high, signaling the rebound in housing remains uneven.

Mortgage loan application volume dropped sharply for the period ending Feb. 13 as mortgage rates rose to their highest level since the beginning of the year.

U.S. Attorney General Eric Holder, who forced Wall Street's biggest banks to pay billions in fines for their roles in the subprime mortgage crisis, is pressing for action against executives at those firms, even as he prepares to leave his post.