Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce.
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Average long-term U.S. mortgage rates surged this week, marking their largest one-week gain this year.
U.S. home construction plunged in August, led by steep decline in the volatile apartment category. But single-family house construction, a larger and more stable portion of the market, fell only modestly.
Advertised as a path to an affordable retirement, federally insured reverse mortgages are showing signs of a rebound, drawing the scrutiny of regulators seeking to reduce historically high default rates that have cost the government billions.
Americans have a positive image of banking industry for the first time since 2007 and a positive view of the real estate industry for the first time since 2006, proving each sector is recovering from the doldrums of a financial recession precipitated in large part by a mortgage-linked housing bubble, according to a new survey.
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