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California Senate Approves Bill to Expand Down Payment Program to Illegal Immigrants
It is uncertain if Gov. Newsom will sign or veto the bill. Continue Reading California Senate Approves Bill to Expand Down Payment Program to Illegal Immigrants
Atlanta Fed Chief Recommends Waiting on Rate Cuts
The Fed has kept its policy rate in the 5.25%-5.50% range for more than year as a strategy to bring down high inflation. Continue Reading Atlanta Fed Chief Recommends Waiting on Rate Cuts
Did a Russian Ransomware Gang Breach the Federal Reserve?
Cybersecurity experts are skeptical that any attack transpired. Continue Reading Did a Russian Ransomware Gang Breach the Federal Reserve?
Data Study Warns of Widespread Brokerage Unprofitability After NAR Settlement Goes Into Effect
If commission percentages dropped to 2%, then 79% of the companies in this analysis would be unprofitable. Continue Reading Data Study Warns of Widespread Brokerage Unprofitability After NAR Settlement Goes Into Effect
New Study Ranks the Best and Worst Markets for Real Estate Agents
Real estate agents in New York City earned the highest median salary at $103,960 per year. Continue Reading New Study Ranks the Best and Worst Markets for Real Estate Agents
4 Steps to Take if You’re House Poor
Source: The Ascent --- If your housing expenses -- including mortgage payment, homeowners insurance, utilities, maintenance, and property taxes -- leave you with little left over each month, you may be called "house poor." The first thing to know is that there's no...
Mortgage rate buydowns: How Horry Co. builders are keeping prices up & buyers coming
Source: ABC 15 News --- HORRY COUNTY, S.C. (WPDE) — Not even the cold weather can cool down the housing market in Horry County, as home builders are finding creative ways to keep prices stable while also giving buyers more power. Mortgage rate buydowns are the latest...
Housing Market Update: $2,500 Monthly Budget Buys A $400,000 Home For First Time Since September As Rates Dip Below 6%
Source: Redfin --- Home sellers are starting to come off the sidelines to meet buyer demand as mortgage rates steadily decline, with new listings and pending sales both posting their smallest drops in four months. A homebuyer on a $2,500 monthly budget can afford a...
‘Our mortgage got so high we put off having a baby’
Source: BBC News --- Alex Czok and her husband Tom Beech had hoped to start a family this year but when their mortgage went up by hundreds of pounds they put their plans on hold. They are one of the four million UK households facing higher mortgage bills this year....
What Fed Rate Increases Mean for Mortgages, Credit Cards and More
Source: The New York Times --- As the Federal Reserve has lifted its key interest rate several times over the past year, Americans have seen the effects on both sides of the household ledger: Savers benefit from higher yields, but borrowers pay more. Here’s how it...
Home Equity Flattens Out Across U.S. In Fourth Quarter Of 2022
Source: ATTOM --- IRVINE, Calif. — Feb. 2, 2023 — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its fourth-quarter 2022 U.S. Home Equity & Underwater Report, which shows that 48 percent of mortgaged residential...
LoanDepot Director Pamela Hughes Patenaude Named Board Chair of Home Builders Institute
Feb. 3, 2023 (Staff Writer) -- loanDepot, Inc. (NYSE: LDI) ("loanDepot" or the "Company"), one of the nation's largest non-bank retail mortgage lenders, today issued the following statement from CEO Frank Martell on the news that Pamela Hughes Patenaude, an...
Mortgage overpayments surge as borrowers fend off rising interest bills
Source: Financial Times --- Mortgage borrowers scrambled to pay down their housing debt after interest rates on home loans soared, with lump-sum repayments and redemptions jumping to £2.4bn in October last year from £1.7bn in the same month in 2021. The figures from...
Mortgage borrowing falls by £1bn as property market slowdown continues
Source: Money Week --- The latest data from the Bank of England (BoE) shows a growing number of people are questioning whether now is a good time to buy a house, adding more uncertainty to the property market’s outlook for 2023. The BoE’s Money and Credit report...
How soon can you refinance your mortgage?
Source: CBS News --- When you refinance your mortgage, you replace it with a new one. Sometimes, this allows you to get a lower rate or monthly payment, or it might also come with cash back, which you can use to cover home repairs or any other expense you might be...
