Mortgage News

The Toronto stock market closed higher Monday as traders bought into stocks beaten down in a string of recent declines while hoping for more clarity from the U.S. Federal Reserve on whether it might start to ease up on stimulus measures.

Executives with OneWest Bank have announced that more than 700 workers will lose their jobs as the company is acquired as part of a $2.53 billion deal.

The number of Canadian homes sold so far this year is slightly higher than projected and it looks as if 2014 will show a rebound, according to a new forecast by the Canadian real estate industry's main association.

For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.

The Supreme Court agreed Monday to take another dispute involving race, deciding whether people must prove they were victims of intentional housing discrimination to win lawsuits under federal law.

Builders are eyeing the next wave of potential home buyers - the so-called millennials - but whether this rising generation will embrace big mortgage debt remains an open question.

Concern that the Fed would start reducing the amount of financial assets it is buying has been the main factor behind the volatility that has gripped markets over the past few weeks.

That's the question - and the fear - Chairman Ben Bernanke will face this week when he takes questions after a Federal Reserve policy meeting.

Since Ben Bernanke unleashed a bombshell on May 22 by suggesting the U.S. Federal Reserve could before long start to pull back on its massive monetary stimulus, big stock and bond markets have been feeling the pain.

House sellers' average asking prices have broken through the quarter of a million pounds milestone for the first time amid signs of a "widespread" upturn in the housing market.

Abenomics' massive monetary stimulus was supposed to depress long-term interest rates to spur economic activity, but the Japanese government bond market has other ideas.

That's essentially the dilemma facing the U.S. Federal Reserve's 19 policy makers when they meet in Washington this week.

Trading will likely be muted for the first half of the week as investors hope to get a better impression of whether the U.S. Federal Reserve will cut back on one of its key stimulus measures soon and, if so, by how much.

Let's say you were buried under an avalanche of debt for years and could only make the minimum payments on your credit card bills.

The $400 million project stalled four years ago and since has been dubbed the "hole in the ground" just off the main casino strip at the California-Nevada line.

Sprinkler supporters say the typical new home could be outfitted with sprinkler technology for about $4,000, which they note amounts to about $11 per month when amortized over the life of a mortgage.

The owner of a now-defunct Vallejo mortgage company has been sentenced in federal court in Oakland to three years in prison and ordered to pay $5.8 million in restitution to banks for her role in a mortgage fraud scheme.

Even though the economy is slowly improving, millions of Americans are still out of work.

Bill Gross, co-chief investment officer of PIMCO and manager of the world's largest mutual fund, said Friday the Federal Reserve is not likely to raise interest rates anytime soon and that he sees intermediate-term Treasuries as an attractive investment opportunity.

Bank of America Corp., the second-biggest U.S. lender, rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents.