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The buying frenzy of a year ago is long gone. Home buyers have pulled away, sellers are holding back, and the whole housing market is locked in a deep freeze.
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The highest rates in 20 years are dashing the dreams of some would-be homebuyers. Others stretch to buy but spend close to $1,000 a month more in monthly payments for a typical house.
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The super-heated housing market is cooling off. Home prices have fallen about 6% since their peak in June. The pace of sales also fell for the 7th straight month.
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The company says it hopes to help Black and Latino borrowers buy houses and build wealth with its new pilot program. Experts say it's a start, but doesn't go far enough.
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The Federal Reserve announced Wednesday that it will increase its benchmark interest rate by 0.75%, matching the largest increase in decades. Here's what that means for everyday Americans.
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The Federal Reserve is expected to approve its largest interest rate hike in more than two decades this week. Additional rate increases are likely, as the Fed tries to regain control over inflation.
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Higher mortgage rates and home prices have pushed the monthly payment to buy the median-priced home in the U.S. up more than 50% since the start of last year. Many first-time buyers can't afford it.
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This post will be updated today, Tuesday, September 29, and through the week with the latest information on COVID-19 in South Florida.
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Wells Fargo will pay a civil penalty for allegedly selling residential mortgage loans that included misstated income information, the Justice Department said.