Updated July 6 at 7:06pm
Real Estate
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Purchases of previously owned U.S. homes unexpectedly rose in July to a 10-month high as low borrowing costs and an increase in inventory drew buyers. more
The $1,500 tax credit adjunct university professor Scott Wade expects to claim next year as a result of Rhode Island’s new incentive for first-time homebuyers wasn’t the reason he bought a three-bedroom bungalow in Cranston last month. more
Bank of America Corp. must set aside $490 million of its Aug. 21 $16.7 billion settlement to cover taxes that borrowers face on forgiven mortgage debt - a step taken by the Justice Department to give homeowners relief that Congress has failed to provide. more
(Updated, 4:15 p.m.) Developer Richard Baccari II said Monday that his proposal for a mixed-use building on a parcel of East Side former Interstate 195 land has received a preliminary endorsement from the I-195 Redevelopment District Commission. more
Tightening supply resulted in fewer single-family and condominium sales in Massachusetts in July, while driving home prices higher, according to the latest statistics released by The Warren Group. more
Rhode Island tied for the third-largest month-over-month statewide increase in home sales prices in June, rising 1.2 percent from May, according to the latest Black Knight Home Price Index report. more
Rhode Island single-family home sales fell 2.7 percent in July compared with the same period in 2013, the Rhode Island Association of Realtors said Wednesday. more
Despite a six-tenths of a percentage point decline in the percentage of Rhode Island homes with a mortgage in the foreclosure process from July 2013 to July 2014, the Ocean State lagged the nation, which saw foreclosure inventory fall eight-tenths of a percentage point to 1.7 percent. more
The share of Americans 65 and older with mortgage debt rose to 30 percent in 2011 from 22 percent in 2001, according to a May analysis by the Consumer Financial Protection Bureau based on the latest available figures. more
Are mortgage lenders finally loosening up a little on their credit score requirements – opening the door to larger numbers of home purchasers this summer and fall? more
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