Economy

Sales of homes in the Chicago area dropped in April as potential homebuyers looked at houses but then turned away after finding disappointing choices, the Illinois Realtors reported.

A larger-than-projected decline in April sales of previously owned homes from a 10-year high indicates the residential real estate market remains constrained by a lack of inventory.

Here's a look at the top cities where out-of-town house hunters are looking to buy. Mortgage lenders can capitalize on these trends with targeted marketing and specialized customer service to cater to these consumers.

Two Harbors Investment Corp. is spinning out its commercial real estate lending business to a newly created real estate investment trust, Granite Point Mortgage Trust Inc.

The San Diego County median home price hit $525,000 in April, passing the region's previous peak reached in 2005.

Home prices increased 6% in the first quarter from a year earlier as competition heated up for a scarcity of listings.

Homeowners insurance agencies are embedding their policy-underwriting technology into mortgage companies' origination and servicing systems in a bid to chase the same customers together.

EagleBank has been approved as the 13th Ginnie Mae multifamily mortgage-backed securities issuer

Fannie Mae will give below-market-rate financing to multifamily borrowers who incorporate healthy design features in their newly constructed or rehabilitated buildings.

Bank of the West is using alternative data and the international expertise of its parent company to tap into the lucrative but difficult to underwrite market of middle- and upper-class immigrant mortgage borrowers.

A larger-than-forecast decline in new-home purchases in April from the strongest pace in almost a decade indicates a pause in demand in the midst of the busy spring selling season.

Maine's residential mortgage lending industry bears little resemblance to its prerecession version as changing conditions have shuffled the deck of top lenders and created new choices for borrowers.

April sales of existing homes fell almost 11% in Wisconsin, a drop-off industry professionals say is the result of a short supply of houses on the market.

This is a good time for bank risk managers and bank regulatory examiners to evaluate the effects of a deepening retail crisis on the financial services sector.

The Atlanta BeltLine is pushing hard to get hundreds of affordable housing units opened or in the pipeline in the coming months.

Chattanooga, Tenn., home prices continued to accelerate in the first three months of 2017 as sales outpaced the number of new homes put on the market, shrinking the available inventory of houses for home buyers to choose from in the area.

The median time it took a home listed for sale to go into contract was 40 days in April, the fastest since Redfin started tracking this data in 2010.

Canadian government officials delivered a vote of confidence in the country’s housing sector and banking system, telling lawmakers that Vancouver and Toronto’s real estate markets are supported by fundamentals that leave risks well-contained.

The spring home buying season got off to a sluggish start in Greater Hartford with home sales and prices sliding in April compared with a year earlier.

New York Gov. Andrew M. Cuomo signed legislation sending $2.5 billion to the construction and preservation of affordable housing, celebrating it as the start to his $20 billion plan to combat homelessness.