Housing

Corporate landlords are benefiting from the worst rental-housing shortage in more than a decade as construction trails demand and more Americans opt to lease rather than buy.

Purchases of previously owned homes dropped more than forecast in November as residential real estate struggles to sustain its recovery even as borrowing costs remain low.

Home sales dropped 5.2% in November compared to a year earlier, according to data published Thursday by Re/Max.

The government conservatorship of Fannie Mae and Freddie Mac was never meant to authorize lasting control over the housing sector, according to one of the people who advised Congress on the Housing and Economic Recovery Act.

Mortgage rates declined, keeping borrowing costs at the lowest levels since May 2013.

Refinancing volume rose for the fourth consecutive month in November, according to Ellie Mae.

NeighborWorks America has named Paul Weech as its new president and chief executive.

The Senate approved a bill late Tuesday that would retroactively extend over 50 expiring tax provisions for one years, including one that shields distressed homeowners from paying taxes on any mortgage debt forgiven in a short sale.

The Russian ruble is in freefall — it's down more than 50% since January — and interest rates are climbing on the back of the Bank of Russia's aggressive efforts to shore up the embattled currency.

The housing market will resume its recovery in 2015 after a "disappointing" year as sales accelerate, construction increases and mortgage credit eases.

George Engelke Jr., former chairman, president, and chief executive of the Astoria Financial in Lake Success, N.Y., has died.

New-home construction exceeded a 1 million annualized pace in November for a third consecutive month, continuing a slow recovery in the housing market.

Confidence among homebuilders hovered in December close to a nine-year high, indicating the residential real estate recovery continues to make progress.

The first listed Australian landlord of U.S. housing is hunting for rundown properties in the New York City area as prices hit new highs.

Consumers were more optimistic about their ability to buy a home in November compared to the previous month, according to Fannie Mae.

Renters figure to stay renters, at least for the next three years, according to a new report by Freddie Mac.

Fannie said it will immediately begin accepting applications for fixed-rate 97% loan-to-value financing of borrowers with FICO scores as low as 620. Freddie, meanwhile, took a more cautious approach, delaying the start of the program, requiring credit counseling, and in some cases only allowing FICO scores as low as 660.

Older homeowners have emerged as the pillar of the housing market following the collapse in 2008.

Fannie Mae and Freddie Mac have set terms for letting borrowers put down as little as 3% of a home's cost to get mortgages, a step criticized by Republican lawmakers as a return to risky lending.

One in five U.S. housing markets are now less affordable than their historic average as price gains outpace income growth from New York to San Francisco.