The Federal Reserve resisted repeated calls by President Trump to cut rates. The Federal Open Market Committee, the central bank’s policy making arm, voted unanimously to maintain the target range for the federal funds rate at 4.25%to 4.5%. In announcing its decision,...
Mortgage rates continued to inch down in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.81% as of June 18, down from last week when it averaged 6.84%. A year ago at this time, it averaged...
Gen Z homebuyers accounted for a record-high 12% share of the VA purchase loan market during the first half of fiscal year 2025, triple their share from just three years ago. According to an analysis of Department of Veterans Affairs data published by Veterans United...
Pittsburgh-based PNC Bank, a member of The PNC Financial Services Group Inc. (NYSE: PNC), announced the closing of Low-Income Housing Tax Credit (LIHTC) Fund 98, which is investing more than $208 million in the development and rehabilitation of affordable rental...
A new survey published by Redfin (NASDAQ: RDFN) has found one-third (33.5%) of baby boomers who own their home declaring that they’ll never sell their property, while another 30% say they will eventually sell their home but not within the next decade. Older homeowners...
Single-family housing starts in May were at a rate of 924,000, according to data from the US Census Bureau and the Department of Housing and Urban Development. This is 0.4% above the revised April figure of 920,000. Privately-owned housing starts in May were at a...
