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Bank of America aims mortgages, CRE loans at women and minorities
Source: American Banker --- Two new Bank of America lending programs seek to promote homeownership among minority borrowers as well as incentivize economic development in disadvantaged communities. One is a pilot program that would offer mortgages to Black and...
Reverse mortgages: Pros and cons explained
Source: CBS News --- Are you looking for ways to increase your cash flow in retirement? If you own your home (or most of it), a reverse mortgage may be able to help. It can eliminate your existing mortgage payment and generate a regular source of income. However,...
Home prices are falling in 6 major US cities and still rising in 13. Here’s how the major markets are faring as buyers adjust to the end of the boom
Source: Business Insider --- The red-hot housing market has fizzled out — and that means home prices are finally cooling down. Over the past few years, intense buyer competition has elevated home prices throughout the US but as affordability wanes, demand is fading...
Everyone pays the cost as the rich keep spending
Source: Financial Times --- Inflation isn’t new, but price rises can still shock. I recently holidayed in the Hamptons, a tony beach area outside New York, where I was stunned to pay $800 for a single shopping cart of groceries. This wasn’t at some foodie emporium,...
Home sale cancellations rise in ‘remarkably uncertain time’ for market: Redfin CEO
Source: New York Post --- The US housing market is in the midst of a significant pullback, with cooling conditions that have contributed to a spike in home sale cancellation rates, according to the top boss at real estate firm RedFin. RedFin CEO Glenn Kelman noted...
The Real Impact Of A Housing Market Recession
Source: Forbes --- Key Takeaways: A housing market recession occurs when home sales decline for six months straight, which officially happened in July 2022. Two main forces are driving the housing market recession: increasing interest rates and increasing construction...
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