Average U.S. rates on fixed mortgages declined this week amid signs the economic recovery is slowing. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan fell to 4.50 percent from 4.57 percent last week. The ...

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WASHINGTON — Lawrence Summers, who was considered the leading candidate to succeed Ben Bernanke as Federal Reserve chairman, has withdrawn from consideration, the White House said Sunday. Summers’ withdrawal followed growing resistance from critics, including some members of the Senate ...

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Last week, we wrote about how the housing market had slowed significantly, most likely due to a sudden bump in mortgage rates. At that time, the data for August wasn’t yet available. Well, now the numbers are in, and they confirm our suspicions. August was indeed a lousy month for home sales.

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The numbers aren’t in yet, but word on the street is that home sales took a bit of a breather in August. As we wrote in a recent column, July and especially August is typically a slow time for real estate. People are hitting the beach, and the idea of house hunting is on the back burner. Agents also take a vacation from time to time, so they aren’t out there beating the bushes for buyers and sellers. In fact, the only period of the year that’s slower than August is the holiday time from Thanksgiving to New Year’s.

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WASHINGTON — Americans’ confidence in the economy inched closer to a 5 ½-year high on growing optimism that hiring and wages could pick up in coming months. The Conference Board, a New York-based private research group, said Tuesday that its ...

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WASHINGTON — Americans cut back sharply in July on their purchases of new homes, a sign that higher mortgage rates may weigh on the housing recovery. The Commerce Department said Friday that U.S. sales of newly built home dropped 13.4 ...

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WASHINGTON — U.S. developers broke ground on new homes at a faster pace in July. But the rise was all due to apartment construction, which is typically volatile. By contrast, builders began work on fewer single-family homes — the bulk ...

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WASHINGTON — Freddie Mac earned $5 billion from April through June, the seventh straight profitable quarter for the mortgage giant. The second-quarter gain reported Wednesday compares with net income of $3 billion in the same period of 2012. Freddie says ...

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U.S. home prices surged 11.9 percent in June from a year earlier, reflecting stronger demand amid a tight supply of homes for sale. CoreLogic, a real estate data provider, said Tuesday that home prices climbed on annual basis in 48 ...

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WASHINGTON — U.S. home prices jumped 12.2 percent in May compared with a year ago, the biggest annual gain since March 2006. The increase shows the housing recovery is strengthening. The Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday ...

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