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Bank of America CEO pushes back on criticisms of zero-down mortgages for minority communities
Source: Fox News --- North Carolina-based Bank of America recently came under fire over a reported plan to offer zero-down mortgages in minority communities, with some critics lodging complaints over the racial aspect, while others warned it reminded them of the...
Housing inflation is dead
Source: Money Control --- Robert Armstrong Good morning. It’s CPI day. There is good reason for optimism that inflation will continue to abate, and not just because of gas prices. But as we like to repeat at Unhedged, there is no such thing as high and stable...
Rockford, several Illinois cities round out bottom of US housing market top 300 list
Source: Rockford Register Star --- The Forest City ranks 294th out of the nation’s top 300 real estate markets, according to a study conducted by the personal finance website WalletHub. While putting together the list, WalletHub examined 17 key indicators, including...
Will Real-Time Technology Forever Change Real Estate?
Source: Arch Daily --- The real estate industry moves fast. It wasn’t so long ago that potential buyers narrowed their searches by driving around with a sheaf of printed listings, and designers and builders relied on CAD drawings and artist renderings to show...
Average interest rate for 30-year fixed-rate mortgage hits 6% for first time in 14 years
Source: Fox Business --- The average interest rate for 30-year fixed-rate mortgages hit the 6% mark for the first time in 14 years, according to a Mortgage Bankers Association (MBA) survey released Wednesday. The MBA's latest Weekly Mortgage Applications Survey found...
Are we seeing a mortgage rate lockdown?
Source: Housing Wire --- The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. This is something I’ve never believed in because we...
