DS News: Bank of America settles fraud claims for record $16 billion By Tory Barringer Bank of America announced Thursday morning it has agreed to pay a record $16.65 billion to resolve claims of financial fraud in the sale of toxic mortgage-backed securities during the years leading up the financial crisis.
LA Times: U.S. home sales jump; key mortgage rate hits low for year By Andrew Khouri Sales of previously owned homes rose more than expected in July, a sign of growing strength in the housing recovery. Sales climbed 2.4% from June to a seasonally adjusted annual rate of 5.15 million, the National Assn. of Realtors said Thursday. The July sales level, the highest of the year, beat analysts' projected rate of 5 million.