Finance & Mortgage

US Mortgage Rates Inch Down to Remain at Record Lows

Mortgage rates in the U.S. inched down a little this week on "light economic reports", according to Freddie Mac, the government-backed lending giant's weekly interest rates survey.

China Home Sales Surge on Easing Regulations and developer Discounts

Home sales in China went up 33 percent in June after local governments started easing the stringent property regulations and allowed developers to offer discounts to boost home buying activity.

Citigroup Pays $7 Billion to Settle Faulty Mortgage Probe

Citigroup Inc., the famous banking institution, announced Monday that it had agreed to pay $7 billion in fines to the U.S. Justice Department (DoJ) after it was found guilty of selling faulty mortgage securities to investors that eventually led to the financial crisis in 2008.