High-profile real estate investor Grant Cardone is taking President Biden to task for his proposed tax credit for first-time homebuyers. In an X posting, Cardone questioned the logic behind the $5,000 tax credit for two years, arguing that it is near-worthless in...
Portland-based Vision Mortgage Group has launched Legacy Builder, a proprietary loan program aimed at first-generation, first-time homebuyers. According to the company, the program features a 1% down payment and 2% grant down payment assistance. Borrowers do not have...
Rocket Mortgage LLC, a division of Detroit-headquartered Rocket Companies (NYSE:RKT), has reached a settlement with the U.S. Department of Housing and Urban Development (HUD) to resolve allegations that the company denied a mortgage loan application because the...
Enthusiasm for vacation homes waned during 2023, according to new data from Redfin (NASDAQ:RDFN). Last year, homebuyers took out 90,772 mortgages for second homes in 2023, down 40% from a year earlier and down 65% from the pandemic housing boom’s 2021 peak. In...
The Federal Home Loan Bank of Cincinnati (FHLB) and Homeport, a Columbus, Ohio-based nonprofit housing development, are launching the Rise Up program for qualifying homeowners in Ohio’s Franklin County. According to the organizations, the Rise Up program is funded by...
Mortgage rates were in decline for the first time since March, according to the latest Primary Mortgage Market Survey from Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 7.09% as of May 9, down from last week when it averaged 7.22%. A year ago at...
Hits and Misses for the Real Estate Week of March 23-27
