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Construction spending rises for 3rd straight month

U.S. builders spent more in October on homes, offices and shopping centers, pushing construction spending up for a third straight month. Despite the gains, construction spending remained depressed. Construction spending rose 0.8 percent in October to a seasonally adjusted annual rate of $798.5 billion, the Commerce Department said this month.

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Bargainers agree to 
raise size of FHA-
backed loans

WASHINGTON — Congressional bargainers have agreed to increase the size of mortgages insured by the Federal Housing Administration in a compromise being hailed by the housing industry but criticized by conservatives. Under the deal by House and Senate negotiators, the ...

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HUD leader touts 
home stabilization efforts

PHOENIX — The Obama administration’s top housing official touted the government’s efforts to stabilize neighborhoods hard hit by foreclosures during a visit to a Phoenix neighborhood Thursday. U.S. Housing and Urban Development Secretary Shaun Donovan visited two homes bought out ...

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Feds sue 
mortgage broker, 
alleging 
lending fraud

NEW YORK — The federal government sued one of the nation’s largest privately held mortgage brokers this month, saying its decade-long fraudulent lending practices cost the government hundreds of millions of dollars and forced thousands of American homeowners to lose ...

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