Economy

A drop in interest rates due to global economic worries fueled an increase in mortgage applications last week, according to the Mortgage Bankers Association.

Purchases of new homes surged in December to the highest level in 10 months, closing out the best year for housing since 2007.

D.R. Horton is expanding its entry-level Express Homes brand amid first-time buyers' growing demand for both homes and mortgages.

The mortgage industry can better manage disparate regulatory requirements with a comprehensive approach that streamlines compliance.

Home prices in 20 U.S. cities rose at a faster pace in the year ended November, underscoring the shortage of supply amid steady demand.

American International Group announced $3.6 billion in new costs to fill a reserve shortfall and said it will hold an initial public offering for its mortgage insurer and sell an adviser network as CEO Peter Hancock seeks to boost returns and protect his job after criticism from activist investor Carl Icahn.

D.R. Horton, the largest U.S. homebuilder, reported fiscal first-quarter earnings that beat analyst estimates as sales increased.

U.S. home prices rose 5.5% in November on a yearly basis, according to Black Knight Financial Services.

American International Group's plan to spin off a portion of its mortgage insurance unit is "almost pointless" given the challenges that CEO Peter Hancock faces to fix the much larger property-casualty business, an analyst at Keefe, Bruyette & Woods said.

American International Group Inc., the insurer being pressured by activist investor Carl Icahn to shrink the company, plans to pursue a partial spinoff of its mortgage guaranty unit.

Home Partners of America is securitizing a portfolio of single family rental homes with a unique feature: the tenants lease-to-own.

The Federal Housing Finance Agency may face legislation or a lawsuit in the near future as it tries to force captive insurance companies to exit the Federal Home Loan Bank System.

While a flourishing multifamily market is a boon to apartment lenders, increasing demand for units signals lean times are ahead for renters.

Purchases of previously owned homes rose more than projected in December, helped in part by warmer weather and wrapping up the best year since 2006.

First-time homebuyers are finally jumping into the U.S. property market.

Home prices rose 8.8% in December on a year-over-year basis, as the dearth of available homes forced prices up, according to Redfin.

MGIC Investment Corp. posted net income of $102.4 million in the fourth quarter, a gain of 36% from the $75.1 million it earned in the same period in 2014.

The average interest rate on the 30-year fixed rate mortgage rates fell this week to a three-month low, as investors exited stocks and commodities for the safety of government bonds.

Redwood Trust in Mill Valley, Calif., plans to stop buying mortgage loans to resell to Fannie Mae and Freddie Mac as it looks to cut costs.

It took an average of 49 days to close a residential mortgage loan in December, a week longer than it took one year prior, according to Ellie Mae. This was unchanged from November.