AFP - Construction of new homes in the United States plunged in February to near record lows and building permits hit bottom, official data showed Wednesday in a dismal report on the ailing housing market.
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US housing construction plunges (AFP)
Mortgage applications fell last week: MBA (Reuters)
Reuters - Applications for U.S. home mortgages dipped last week despite increased refinancing, an industry report said on Wednesday, suggesting still-stunted demand as the spring selling season nears.
Geithner seeks quick foreclosure pact with banks (Reuters)
Reuters - A comprehensive settlement between U.S. authorities and banks over alleged abuses of mortgage servicing needs to be reached quickly to help the housing market heal, Treasury Secretary Timothy Geithner said on Tuesday.
Geithner backs Congress eyeing of covered bonds (Reuters)
Reuters - Treasury Secretary Timothy Geithner on Tuesday backed efforts from lawmakers on Capitol Hill to look into ways to expand the way homes are financed, including the creation of a covered bond market.
Legal Pitfalls Plague Housing (Investor’s Business Daily)
Investor’s Business Daily - Residential real estate deals always carry some risk of legal disputes, but today’s volatile market is spawning new clashes.
House OKs GOP bill killing refinance program (AP)
AP - Republicans pushed a bill through the House on Thursday killing assistance for people who want to refinance homes that are worth less than they paid for them.
Rate on 30-year mortgage ticks up to 4.88 pct. (AP)
AP - Fixed mortgage rates were relatively flat this week, with the 30-year loan just under 5 percent.
Foreclosure activity slows sharply in February (AP)
AP - The number of U.S.
GOP challenges proposed gov’t deal on foreclosures (AP)
AP - Leading House Republicans challenged a deal Wednesday that federal and state officials have offered to five big U.S. banks that would change the handling of foreclosures and force lenders to modify more mortgages.
Republicans see power abuse in U.S. foreclosure probe (Reuters)
Reuters - Republicans are pushing back against a proposed mortgage servicing settlement sent to large banks last week, calling it is an abuse of power that could harm markets.
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