Rising U.S. home prices signs for a housing rebound

NEW YORK | American homebuilders feel they are sort of turning the corner. On Tuesday the home price sector reported its most-improved selling season in a long time: according to the widely watched S&P/Case-Shiller index, home prices rose in March from February in most major U.S. cities for the first time in seven months. Lower borrowing costs and an improving job market also gave business a boost. Economists believe that…


Lending not likely to loosen up soon, says Fed’s Ben Bernanke

NEW YORK | One of the keys of the severe financial crisis in the US were “liar loans”, given to people who did not even have a job. Four years later, many worthy homebuyers are paying for that. Banks have become so restrictive in their mortgages that many citizens are frozen out of the housing market, Federal Reserve Chairman Ben Bernanke said on Thursday. Bernanke said home mortgage credit outstanding…