The central banks for the U.K. and European Union mirrored the example of their American counterparts and kept their respective interest rates unchanged. The Bank of England maintained its 5.25% rate, which is a 15-year high. Andrew Bailey, governor of the Bank of...
The Federal Reserve has opted to ring out 2023 by keeping rates unchanged. The central bank’s policy making Federal Open Market Committee voted unanimously to hold the federal funds rate in the range of 5.25% to 5.5%. In offering its decision, the Fed presented a...
New legislation introduced by Democrats in both chambers of Congress seeks to prevent hedge funds from purchasing single-family homes. The End Hedge Fund Control of American Homes Act of 2023 was presented in the House by Rep. Adam Smith (D-WA) and in the Senate by...
The U.S. Department of Housing and Urban Development (HUD) announced new initiatives during this week’s U.N. Climate Conference (COP28) to address clean energy in the housing market. Among the initiatives is memorandum of understanding (MOU) with the U.S. Department...
The Federal Housing Administration (FHA) is seeking industry feedback on its proposed changes to its 203(k) Rehabilitation Mortgage Insurance Program. The 203(k) program is designed to help borrowers purchase a home or refinance an existing mortgage and include the...
The Conference of State Bank Supervisors (CSBS) announced the appointment of Brandon Milhorn as its next president and CEO, effective Dec. 4. He succeeds James M. Cooper, who is retiring. Milhorn is currently deputy to Travis Hill, vice chairman of the Federal Deposit...
