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FCC Warns Against Fraudulent Mortgage Calling Campaign

FCC Warns Against Fraudulent Mortgage Calling Campaign

by Phil Hall | Jan 16, 2025 | Market Snapshot, Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Federal Communications Commission (FCC) has issued a warning about a deceptive and fraudulent calling campaign targeting homeowners across the country. The agency identified the source of the fraud as a calling campaign dubbed “Green Mirage,” which has been...
CFPB: Homeowners Near Rivers and Creeks More Likely to be Underinsured Against Flooding

CFPB: Homeowners Near Rivers and Creeks More Likely to be Underinsured Against Flooding

by Phil Hall | Jan 16, 2025 | Market Snapshot, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Consumer Financial Protection Bureau (CFPB) issued a new report that found homeowners who face flooding from rivers and creeks were more likely to be underinsured than residents of coastal areas. The report, which used a sample of mortgage applications from...
Mortgage Rates Break Past 7% Level

Mortgage Rates Break Past 7% Level

by Phil Hall | Jan 16, 2025 | Market Snapshot, Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The 30-year fixed-rate mortgage broke through the 7% mark this week, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 7.04% average as of Jan. 16, up from last week when it averaged 6.93%. One year ago at this time, it...
Foreclosure Activity Down 10% During 2024

Foreclosure Activity Down 10% During 2024

by Phil Hall | Jan 16, 2025 | Market Snapshot, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

New data from ATTOM found foreclosure filings— default notices, scheduled auctions and bank repossessions — were reported on 322,103 residential properties in 2024, down 10% from 2023 and down 35% from pre-pandemic 2019. Those properties with foreclosure filings last...
Biden Signs Executive Order on Creating New AI Data Centers

Biden Signs Executive Order on Creating New AI Data Centers

by Phil Hall | Jan 16, 2025 | Commercial Real Estate News, Market Snapshot, News/Current Events, Real Estate News, WRE News Exclusive

With less than a week before his term expires, President Biden signed an Executive Order directed the Departments of Defense and Energy to identify federal sites that could be used for artificial intelligence (AI) data centers and clean power facilities. The Executive...
Cleveland Sues Browns, Claiming Law Violation Over Plans to Relocate from City

Cleveland Sues Browns, Claiming Law Violation Over Plans to Relocate from City

by Phil Hall | Jan 16, 2025 | Commercial Real Estate News, Market Snapshot, News/Current Events, Real Estate News, WRE News Exclusive

The City of Cleveland has filed a lawsuit to stop its NFL team from moving out when the lease on its lakefront stadium expires in 2028. The Associated Press reports Jimmy and Dee Haslam, the owners of the Cleveland Browns, plan to build a $2.4 billion stadium and...
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