The Federal Housing Finance Agency (FHFA) did a policy about-face and rescinded its recently enacted upfront fees based on borrowers’ debt-to-income (DTI) ratios for home loans acquired by Fannie Mae and Freddie Mac. The regulator announced in March it would delay...
National Association of Realtors (NAR) Chief Economist Lawrence Yun faulted the Federal Reserve for last week’s quarter-point rate hike, claiming it was unnecessary and predicted it will be the last hike for the near-future. Speaking before NAR’s 2023 Realtors...
Federal Reserve Chairman Jerome Powell has become the one of the most unpopular individuals in Washington, according to a new Gallup Poll measuring how Americans view the nation’s leaders. Powell scored a 36% approval rating, which is both his lowest Gallup...
The 30-year fixed-rate mortgage averaged 6.39% of today, according to new data from Freddie Mac (OTCQB:FMCC). This rate is down from last week when it averaged 6.43%. A year ago at this time, the rate 5.27%. The 15-year fixed-rate mortgage averaged 5.76%, up from last...
Another leading regional bank appears to be having a growing case of tumult. Reuters reported that Los Angeles-based PacWest Bancorp (NASDAQ:PACW) was in talks with potential partners and investors about “strategic options” following the deterioration of its stock...
The delinquency rate for commercial mortgage-backed securities (CMBS) as measured by Trepp Inc. remained unchanged in April at 3.09%. Year-over-year, the Trepp CMBS Delinquency Rate is down 42 basis points; year to date, the rate is up 5 basis points. “Declines in the...
Ex-Massachusetts Real Estate Executive Sentenced for Tax Fraud and Obstruct…
