Investing

SEC sues Utah man for $100 Million real estate ponzi scheme

The U.S. Securities and Exchange Commission accused a Utah man of defrauding investors of $100 million after failing to fulfill promises of higher returns in a real estate-based Ponzi scheme.

New home sales climb to 2 year high

Sales of newly built homes rose to its highest level in two years, largely led by limited supply of previously owned homes and record-low mortgage rates.

New home sales up 7.6 Pct: Commerce Dept

New single-family home sales were up 7.6 percent from April or 369,000 annualized sales, according to a report released by the Commerce Department on Monday.