The U.S. housing industry scored a victory after the House and Senate voted to raise the size of mortgages backed by the Federal Housing Administration to $729,750.
Toll Brothers announced last week that Zvi Barzilay, 65, its chief operating officer and president, will be retiring effective December 31, 2011. He will be succeeded by Richard T. Hartman.
The number of foreclosures climbed in October, as mortgage lenders begin to make their way through the paperwork problems that had delayed new filings for much of the last year.
Job Openings and Labor Turnover Survey (JOLTS) data for September from the Bureau of Labor Statistics show that job openings are starting to pick up, especially in the construction sector.
Single-family housing starts rose 3.9 percent to a seasonally adjusted annual rate of 430,000 units in October, according to newly released data from the U.S. Commerce Department.