Economy

New homes are on the upswing across Bakersfield as a shortage of resale properties, combined with financial incentives and creative amenity packages, persuades shoppers to take a second look at some of the city's newest neighborhoods.

Asking prices for London homes rebounded in October amid a scarcity of new properties, with areas closest to the center of the U.K. capital seeing the biggest gains.

GameStop's plan to shutter up to 200 stores could adversely affect commercial mortgage-backed securities loans with a combined allocated property balance of almost $42 million, according to Morningstar Credit Ratings.

As lawmakers tackle Fannie Mae and Freddie Mac, any revamp must lessen risk to the mortgage system and U.S. taxpayers.

Many home sellers in the Twin Cities are feeling a fall chill.

BART will remove 600 parking spots from Millbrae Station to make way for 400 apartments, including 100 for low-income tenants — 80 of them prioritized for veterans.

Count Citizens Financial’s Bruce Van Saun among those who think interest rate cuts could halt by mid-2020. The key, he says, is to focus on delivering services customers are willing to pay fees for and to skillfully reprice deposits until then.

Renovation spending is decelerating faster than expected this year, but could slow with more deliberation than previously anticipated next year, according to Harvard University's Joint Center for Housing Studies.

Million-dollar homes in the U.S. are shrinking fast. Nowhere is that more stark than in Nashville, a superstar economy brimming with high-paying jobs, hip bars and new luxury downtown condos.

Single-family mortgage production this year is expected to be 3% higher than anticipated last month, according to Fannie Mae, which revised its estimates based partly on a stronger housing outlook.

Strong economic trends like an improved employment outlook and rising homebuilder sentiment helped to drive average mortgage rates up 12 basis points from a week ago, according to Freddie Mac.

Spooked that the newly renovated house you're about to buy in Charlotte may be haunted?

The Minneapolis company attributed the uptick to new tech tools, additional loan officers and other process improvements — not to mention the refi boom fueled by lower rates. It’s a formula other banks are expected to copy.

Executives sent a letter to the federal banking regulators last month expressing concern that an alternative to the London interbank offered rate could limit credit availability.

The Minneapolis bank says recent investments in its retail operation contributed to strong improvement in home lending and mortgage banking fees.

Hawaii island's housing market turned in mixed results in September but the results were worse on Kauai where sales and prices fell for both single-family homes and condominiums.

Canada's Realtors produced another strong month of sales and prices in September, with gains in most major markets in a sign of strength for the nation's housing market.

Colorado has five counties where more than half of the homes are vacation properties, and the state's vacation homes, those near ski resorts, are among the most expensive in the country, according to the National Association of Realtors.

When California lawmakers tried earlier this year to force local governments to allow four or more homes on land zoned for single-family residences, fierce pushback from suburban communities stopped the plan in its tracks.

Weaker-than-expected economic data led to a decline in mortgage rates this week, although consumer attitudes remain strong, and should continue to drive increased home purchase demand, according to Freddie Mac.