Builder Confidence Hits Highest Level Since 2007
Experts believe that the market could be improving based on home builder confidence being at the highest level since August 2007.
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Fed Researchers Predict Speedy Economic Recovery
Two members of the Federal Reserve Bank of San Francisco say that positive signs from the home, car, and retail sectors indicate good signs for the economy.
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Bob Toll Steps Aside as Firm’s CEO
Toll Brothers Inc., co-founder will remain executive chairman, but Douglas Yearley Jr. will take over as CEO in June.
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HAMP Modifications Jump Sharply
In April, the number of permanently modified home mortgages in the Treasury Department’s Home Affordable Modification program rose 30 percent in April.
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Bankruptcy Reform Spurs Loan Defaults
According to Wenli Li and other members of the Federal Reserve Bank of Philadelphia, changes in the federal bankruptcy laws has led to an unexpected rise in mortgage defaults each year.
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Housing Starts Rise 5.8 Percent
While single-family construction starts increased 5.8 percent in April, new building permits fell by a greater amount, according to a Commerce Department report.
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