With signs of vigor returning to the real estate market, it's easy to miss the other reality: Many people got stuck with terrible mortgages during the boom years and the Obama administration says they still need help.
The value of the benchmark 10-year Treasury note is down, amid signs the U.S. economy is gathering strength. The yield is up to 2.14 percent, and 30-year mortgage rates are inching close to 4 percent, the highest in a year.
Starting today, checks are on the way to victims of wrongful foreclosures as part of a $3.6 billion settlement between banks and federal regulators. But for most of those borrowers, it won’t exactly be Christmas in April.
The regulator overseeing Fannie Mae and Freddie Mac has announced an idea to reform the mortgage giants. It involves starting a joint venture to bundle mortgages into securities that people can invest in.
This week, Marketplace Money and The New York Times team up to tell the story of home ownership in America three years after the housing bubble. View our interactive map and listen to our special podcast.