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BofA profit soars as expenses fall to lowest since 2008

BofA’s legal expenses, which have totaled at least $70 billion since 2008, dropped for the second straight quarter, suggesting the worst of the bank’s legal problems stemming from the financial crisis was behind it. Litigation expenses, which had undermined the cost-cutting initiatives introduced by Chief Executive Brian Moynihan since he assumed the top job in 2010, fell to $175 million from $4 billion a year earlier. “We also benefited from

Canadian home resales fall in June, industry group says

By Andrea Hopkins TORONTO (Reuters) – Sales of existing homes in Canada fell in June from May as a decline in sales in Ottawa and Montreal outweighed increases in the Toronto area, but national prices continued to rise, the Canadian Real Estate Association said on Wednesday. The industry group for Canadian real estate agents said sales activity was down 0.8 percent last month from May, but noted that sales levels

Mortgage Rates Rise But Remain Under 4% Again

Filed under: Buying, Financing, Refinancing ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals. By Lauren Braun Mortgage rates for 30-year fixed home loans rose this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.95 percent, up 7 basis points from the same time last week. The 30-year fixed mortgage rate rose late in the week, then hovered around 3.98

China H1 property investments grow at slowest pace in six years

China’s real estate investment in the first half eased to its slowest since 2009, pointing to persistent weakness, even as sales improved on government measures to support the sector. Property investment, a main driver of the economy, grew 4.6 percent in the first half of 2015 from a year earlier, marking the slowest rate since the March quarter of 2009, data from the National Bureau of Statistics (NBS) showed on Wednesday. A