Most New York City residents earning the local combined median income of $70,663 are unable to afford market-rate rental housing, according to a new data report by StreetEasy. Asking rents in March averaged $3,344, a new record, but roughly one in three citywide...
Last week, the Federal Housing Finance Agency (FHFA) issued a notice of Proposed Rulemaking on Fair Lending Oversight. This proposed rule would codify in regulation the FHFA’s fair lending oversight requirements for Fannie Mae, Freddie Mac and the Federal Home Loan...
The 30-year fixed-rate mortgage averaged 6.43% as of April 27, according to Freddie Mac’s (OTCQB: FMCC) latest Primary Mortgage Market Survey. This is a rise from last week when it averaged 6.39%. A year ago at this time, it averaged 5.10%. The 15-year fixed-rate...
Pending home sales declined in March, the first recorded drop since last November, according to the National Association of Realtors (NAR). The trade group’s Pending Home Sales Index took a month-over-month tumble by 5.2% to 78.9 in March; on a year-over-year basis,...
Wells Fargo & Co. (NYSE: WFC) has entered a 10-year partnership with the T.D. Jakes Group, a conglomerate owned by the evangelist T.D. Jakes, that will provide up to $1 billion in capital, financing and grants to revitalize low- and middle-income communities. The...
Profit margins on median-priced single-family home and condo sales during the first quarter of this year were down by 44.2%, according to new data from ATTOM. This marked the third straight quarterly decrease nationwide and resulted in the lowest investment return...
Hits and Misses for the Real Estate Week of May 11-15
