Mecklenburg Times: News for Mecklenburg, Union and Iredell counties Real Estate, Development, Construction, and Community News in the Charlotte area and throughout Mecklenburg, Union and Iredell counties

NEW YORK (AP) — Freddie Mac, the government-controlled mortgage company, said its net income jumped in the fourth quarter on higher interest rates. It also said Thursday that it will pay a dividend to the U.S. Department of Treasury of ...

Tagged with: Freddie Mac

NEW YORK (AP) — Fannie Mae, the government-controlled mortgage company, said its net income in the fourth quarter nearly doubled on higher interest rates. It also said Friday that it expects to pay the U.S. Department of Treasury $2.9 billion ...

Tagged with: Fannie Mae

WASHINGTON (AP) — Cold winter weather appears to have cut into homebuilding in the Midwest and Northeast, causing the pace of construction to tumble in January. Housing starts slipped 3.8 percent last month to a seasonally adjusted annual rate of ...

WASHINGTON (AP) — Average long-term U.S. mortgage rates were unchanged this week, but remained at historically low levels amid worries about the global economy. Mortgage buyer Freddie Mac says the average rate on a 30-year, fixed-rate mortgage remained at 3.65 ...

Tagged with: 30-year home mortgage rate

WASHINGTON – U.S. retail sales rose modestly in January, evidence that Americans kept shopping despite sharp drops in stock prices. The Commerce Department said Friday that retail sales increased a seasonally adjusted 0.2 percent last month, the same as in ...

ALBANY, N.Y. (AP) — Morgan Stanley will pay $3.2 billion in a settlement over bank practices that contributed to the 2008 financial crisis, including misrepresentations about the value of mortgage-backed securities, authorities announced Thursday. The nationwide settlement, negotiated by the ...

Tagged with: mortgages

WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for the sixth straight week as markets around the globe continued the whipsaw trading that has marked this year so far. Mortgage buyer Freddie Mac says the average rate ...

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen cautioned Wednesday that global weakness and falling financial markets could depress the U.S. economy’s growth and slow the pace of Fed interest rate hikes. But Yellen made clear that the Fed won’t ...

Tagged with: Federal Reserve chair Janet Yellen

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen will address Congress on Wednesday at a time of deepening uncertainty about the Fed’s interest rate policies. Since the Fed raised rates from record lows in December, the economic landscape has become ...

Tagged with: Federal Reserve chair Janet Yellen

NEW YORK – Lumber Liquidators will pay more than $13 million for illegally importing hardwood flooring, after the company pleaded guilty to environmental crimes last year. The Department of Justice said that Lumber Liquidators made hardwood floors in China from ...

Tagged with: Lumber Liquidators