Mortgage Industry News
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...
Housing market slows retreat from rising seas, bigger storms
Source: AP --- Chuck and Terry Nowiski lived in their country-style farmhouse with a wrap-around porch for 36 years before it flooded. After hurricanes Matthew and Florence, they said “yes” to the state’s offer to buy their place and tear it down. Nearly three years...
Housing industry insider warns market seeing signs of a ‘real slowdown’
Source: Fox Business --- The National Association of Home Builders warned on Wednesday that soaring inflation and higher mortgage rates are slowing home sales, with CEO Jerry Howard calling the combination a "perfect storm." Howard told "Varney & Co." on Wednesday...
The Fed plans to ‘reset’ the housing market—raising the likelihood of falling home prices
Source: Fortune --- It’s not just about how expensive housing became—it’s how fast it got there. It only took 24 months for U.S. home prices to soar a staggering 37%. For comparison, the biggest two-year spike leading into the 2008 housing crash was 29%. Heading into...
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