Department of Housing and Urban Development (HUD) Sec. Scott Turner has announced the end of Federal Housing Administration (FHA)-insured mortgages for any “non-permanent residents,” effectively eliminating illegal aliens’ access to the taxpayer-funded program.
The Fed’s cut is being reversed in the mortgage market.
Home builder sentiment unexpectedly turned negative in May as high rates and new regulations hit the sector.
On Thursday’s broadcast of “CNN Newsroom,” Harvard Economics Professor and former Chief Economist at the International Monetary Fund Kenneth Rogoff stated that even if the Federal Reserve is successful in bringing inflation down to 2% in the short run and
The Tunnel to Towers Foundation is stepping in to help the family of a fallen NYPD officer who left behind a wife and one-year-old son.
Nolte: Three corporations own 19,000 single family homes in the metro Atlanta area.
Who needs a Fed cut? The market is already loosening financial conditions.
LoanDepot, a leading provider in the loan and mortgage industry, has reported a significant cybersecurity breach impacting approximately 16.6 million customers.
On Wednesday’s “CNN News Central,” co-host Kate Bolduan remarked that “2023 was a tough year for the economy” and it was “even tougher for the housing market.” And CNN Business Correspondent Rahel Solomon stated that while mortgage rates will decline in
The average monthly mortgage payment in Joe Biden’s America has soared to $3,322, the WSJ reports, up from $1,787 when Donald Trump left office.
The recent decline in mortgage rates is luring buyers back into the market, data on mortgage applications indicated Wednesday. Applications for home loans increased three percent last week compared with the previous week, the Mortgage Bankers Association said. Applications for
Americans looked past soaring interest rates to buy new homes at a stunning pace in September. The Commerce Department said new home sales rose 12.3 percent from the prior month to an annual rate of 759,000 in September, far more
All three of the major indexes of home prices hit new record highs in July.
Applications for refinancing mortgages unexpectedly surged last week despite rising interest rates. The Mortgage Bankers Association (MBA) said that overall mortgage applications rose 5.4 percent last week. Purchase mortgage applications rose 2.3 percent and refinancings jumped 13.2 percent. The burst
Sentiment declined for a second consecutive month in September.
On Friday’s broadcast of the Fox Business Network’s “Maria Bartiromo’s Wall Street,” Select Committee on the Chinese Communist Party Chairman Rep. Mike Gallagher (R-WI) argued that there are “startling parallels” between the investments in subprime mortgages in 2008 and American
Digital mortgage company Better.com, once a beacon of the fintech world, faced a harsh reality check as its stock plummeted 93 percent upon its Wall Street debut this week. Better.com became notorious when bumbling CEO Vishal Garg fired more than 900 employees over Zoom just before Christmas in 2021.
The rapid rise in mortgage rates has pushed many owners of existing homes out of the market, giving a boost to home builders and the market for new homes.
The rapid rise of interest rates after years of ultra-low rate mortgages has paralyzed the housing market.
For those Americans who worked hard and made sacrifices along the way to establish a good credit record, the Biden administration has a special prize: a big kick in the teeth.
On Monday’s broadcast of CNBC’s “Squawk Box,” David Stevens, who served as Federal Housing Association Commissioner during the Obama administration, stated that the mortgage plan proposed by the Biden administration will be ineffective at helping people with lower credit scores, and will
On Thursday’s broadcast of the Fox News Channel’s “America Reports,” David Stevens, who served as Federal Housing Association Commissioner during the Obama administration, stated that the Biden administration’s mortgage plan is an inversion of how Freddie Mac and Fannie Mae have
A much bigger jump in home sales than expected.
The Tunnel to Towers Foundation is stepping up in a big way to help fallen firefighter Jason Arno’s loved ones in Buffalo, New York.
A funny thing happened on the way to the recession.
The 30-year fixed mortgage rate rose to 6.92 percent on Thursday, higher than at any point during the subprime mortgage crisis of the mid-2000s.
A big jump in multifamily construction boosted starts in August.
Many Americans assumed no-money-down mortgages were a thing of the past after the 2008 financial crisis. But Bank of America has brought them back in a new home loan program for some black and hispanic borrowers.
Home affordability is declining steeply as the Fed hikes rates to cool inflation.
Rep. Rashida Tlaib (D-MI) kept up to $100,000 in rental income during the coronavirus pandemic despite calling on Congress to cancel rent, according to her most recent financial disclosures.
The mortgage debt rose 1.9 percent this past quarter as the housing market continues to soar coming out of the pandemic.
Banks just purchase loans that would have been purchased—and eventually are purchased—by government-sponsored enterprises like Fannie Mae and Freddie Mac.
“Falling housing affordability continues to take a toll on potential home buyers,” said NAR Chief Economist Lawrence Yun. “Both mortgage rates and home prices have risen too sharply in a short span of time.”
Higher rates and high prices are clobbering demand for mortgages.
Dozens of housing projects across China recently resumed construction after their stalled progress inspired a nationwide boycott in which Chinese homebuyers pledged to halt mortgage payments on pre-purchased, unfinished homes until building continued, China’s state-run Global Times reported on Sunday.
Chinese state regulators vowed to help local governments complete unfinished property projects on Thursday after 100-plus delayed housing projects nationwide reported mortgage defaults in recent days, the state-run Global Times reported.
Longer-term Treasury yields fell last week on recession feaers, dragging down mortgage rates.
Home builders slammed on the brakes in May as interest rates and inflation soared.
Higher borrowing costs are pushing buyers out of the market.
Supply chain disruptions, high costs of materials, and rising interest rates are weighing down home builder confidence.
