US home sales rise 2.1 percent in October

WASHINGTON (AP) — U.S. sales of previously occupied homes rose solidly in October, helped by improvement in the job market and record-low mortgage rates.The increase along with a jump in homebuilder confidence this month suggests the housing market continues to recover.The National Association of Realtors said Monday that sales rose 2.1 percent to a seasonally adjusted annual rate of 4.79 million....

Read More..

US mortgage rates for past 52 weeks at a glance

Average U.S. mortgage rates were little changed this week, staying near their record lows.Here's a look at rates for fixed and adjustable mortgages over the past 52 week...

Read More..

US rate on 30-year mortgage rises to 3.41 pct.

WASHINGTON (AP) — Average U.S. mortgage rates rose only slightly this week and continued to hover near record lows, a trend that has helped boost home sales and refinancing.Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year fixed mortgage edged up to 3.41 percent, from 3.37 last week. Three weeks ago, the rate touched 3.36 percent. That's the lowest level on records dating to 1971.The...

Read More..

Analysis: Mortgage demand too much for U.S. banks, who respond slowly

(Reuters) - Big U.S. banks are hiring mortgage bankers to meet a surge in demand for home loans and refinancings, but they are still struggling to process applications, which could undermine the Federal Reserve's attempts to stimulate the economy.Since the Fed announced its plan in September to buy up to $40 billion of mortgages a month, consumer mortgage rates have fallen more slowly and by less...

Read More..

New exhibition explores our love and hate of money

NEW YORK (Reuters) - How does money make you feel? Fearful, stressed, happy?U.S. financial guru Suze Orman has teamed with the producer of the popular Body Worlds exhibits for a new traveling show to look at how we relate to and understand money.Orman, media star and author of best-selling books on personal finance, described the finance-themed exhibit as "an extension of my life's work as a financial...

Read More..