Yesterday saw mortgage rates fall to the best levels since early May. Now, today, we’d have to go all the way back to the end of April to find anything lower. Are the changes massive? Not by a long shot, but it sounds/looks that much better hear/read. This wasn’t destined to be the case today. […]
Mortgage Rates Lowest Since April Read More »
A long-term rise in the homeownership rate ended last year, and the latest report from the Harvard Joint Center for Housing Studies examines some reasons why. A widening gap between housing costs and wages contributed to the 30 basis-point drop in the ownership rate year over year to 65.6%, according to Census data. This marks
Homeownership stalls after a decade of gains Read More »
Rocket Mortgage unveiled a new equity-backed financing product aimed at giving homebuyers an advantage when vying for homes in competitive markets. The Detroit-based lender’s new bridge loan offers prospective buyers the opportunity to draw into their accrued equity to put down an offer on a new purchase while still living in their existing property. Borrowers
Rocket introduces buy-before-you-sell bridge financing Read More »
Federal Reserve Chair Jerome Powell testifying in the House Financial Services Committee Tuesday morning.Bloomberg News WASHINGTON — House Republicans struck a mostly cordial tone with Federal Reserve Chairman Jerome Powell at a hearing at the House Financial Services Committee. Trump, ahead of the hearing, called on Republicans to press Powell after he held interest rates
Republicans play nice with Powell despite Trump’s criticism Read More »
The Consumer Financial Protection Bureau cut short a five-year agreement with Bank of America Corp. over the bank’s alleged submission of false mortgage data as the significantly curtailed government agency rolls back a bevy of settlements, ending the monitoring of BofA more than three years early. The bank “fulfilled the obligations” of the agreement signed
Bank of America exits CFPB monitoring three years early Read More »
Four years after a notorious condominium collapse that suddenly tightened home lending standards, influential government-sponsored enterprises have soothed some industry tensions, but lenders say there’s still more to be done. “Increased transparency regarding which condo projects are and are not on Fannie and Freddie’s approved list has been a big CHLA priority — so we
Lenders get a better view of condo blacklist but want more Read More »
In the four years since the Surfside condo collapse, a wave of regulatory changes continues to unsettle property owners and lenders, compounding challenges in an already fragile housing market. The scrutiny on condo developments in the aftermath of Surfside led to tightened lending rules that continue to put properties across the country onto a nonwarrantable
Nonwarrantable condos fuel niche lending boom Read More »
Senate Republicans are coming around to the $40,000 cap on state and local tax deduction key House lawmakers demand in President Donald Trump’s massive tax package, but they want to lower the income threshold. Senator Markwayne Mullin of Oklahoma, a key negotiator, said he plans to make the offer late Monday to House Republicans from
Senate GOP to offer $40K SALT cap with lower income threshold Read More »
The president should unwind the federal government’s stake in Fannie Mae and Freddie Mac, and direct the proceeds to a housing remainder trust designed to close critical gaps in real estate lending, writes Joshua Rosner, of Graham Foster & Co.Adobe Stock America’s post-pandemic paradox is clear: The economy keeps adding jobs, but the supply of
Trump could solve the housing crisis with no help from Congress Read More »
AGENTS: Did you know you can share a personalized version of this post? Learn more! Infographics Some Highlights A growing number of homeowners are overestimating today’s market. And that’s why the number of sellers dropping their price is back at normal levels. A lot of the time this is happening because they’re not paying attention
Why Your Home’s Asking Price Matters More Today Read More »