Top Headlines
CFPB Proposes Rule Changes to Help Prevent Foreclosures
The CFPB is accepting input on the proposed changes through Sept. 9. Continue Reading CFPB Proposes Rule Changes to Help Prevent Foreclosures
NYC Developer in $272 Million Settlement Over Defrauding EB-5 Investors
Richard Xia will repay $228 million that he took from the EB-5 investors. Continue Reading NYC Developer in $272 Million Settlement Over Defrauding EB-5 Investors
Yvette Davis Named President of REEP Residential
Davis was previously director of strategic operations at Emerge Living. Continue Reading Yvette Davis Named President of REEP Residential
Society of Industrial and Office Realtors Elects 2024-2025 Officers
SIOR’s current president-elect, Mike Ohmes, will assume the role of SIOR Global President this fall. Continue Reading Society of Industrial and Office Realtors Elects 2024-2025 Officers
John Ehle Named CEO at The Promise Homes Company
Ehle will succeed founder John Hope Bryant, who transitioned to chairman of the Atlanta-headquartered company. Continue Reading John Ehle Named CEO at The Promise Homes Company
Thinking of Buying? These Cities Are Among the Fastest-Cooling Housing Markets in the Country
Source: The Motley Fool --- As potential home buyers think twice about whether now is the right time to buy, sellers in some areas are dropping their prices. The red-hot housing market ushered in by the pandemic is now cooling. And according to Redfin, the areas of...
Homeownership May Seem Out of Reach for Generation Z. How You Can Prepare Now
Source: Time --- Houses are expensive — and Generation Z will soon discover homebuying is not what it used to be. Those born between 1997 and 2012 are dubbed Generation Z or “Zoomers”– and 86% of them want to buy a home with 45% wanting to do it in the next five...
Current Mortgage Interest Rates: August 4, 2022—Mortgage Rates Trend Higher
Source: Forbes --- Today, the average rate on a 30-year fixed mortgage is 5.54%, according to Bankrate.com, while the average rate on a 15-year mortgage is 4.80%. On a 30-year jumbo mortgage, the average rate is 5.54%, and the average rate on a 5/1 ARM is 4.16%.
Seller beware: US homebuyers are backing out of deals at the highest rate since the start of the pandemic — here’s what that means for real estate
Source: Yahoo Finance --- As a well-known inflation-proof asset, real estate has been highly sought-after for most of the last two years. But things seem to be shifting. According to a new report from real estate brokerage Redfin, around 60,000 home-purchase...
Mortgage Rates Drop Below Five Percent
MCLEAN, Va., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 4.99 percent. “Mortgage rates remained volatile due to the...
Mortgage applications inch up for the first time in five weeks
Source: CNBC --- Mortgage applications inched up last week for the first time since June 24. Total mortgage demand increased 1.2% as the average 30-year fixed mortgage rate made the largest weekly drop since 2020. Applications to refinance a home rose 2%, according to...
Pablo Quintanilla: The Ghosts of Home Ownership
Source: KQED --- Hispanic homeownership in the U.S. climbed significantly in 2020 – there are now 8.8 million Hispanic homeowners in the country, according to a report released this week by the National Association of Hispanic Real Estate Professionals. That’s 725,000...
Retirement-Aged Homeowners Least Likely to Utilize Equity
Source: The M Report --- Hispanic homeownership in the U.S. climbed significantly in 2020 – there are now 8.8 million Hispanic homeowners in the country, according to a report released this week by the National Association of Hispanic Real Estate Professionals. That’s...
Total Household Debt Surpasses $16 trillion in Q2 2022; Mortgage, Auto Loan, and Credit Card Balances Increase
Source: New York Fed --- NEW YORK – The Federal Reserve Bank of New York's Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The Report shows an increase in total household debt in the second quarter of 2022, increasing by...
Poland’s mortgage holiday for households threatens bank profits
Source: FT.com --- As inflation soars and recession looms in Poland, a break from mortgage payments will be a much-needed reprieve for Jakub Rdzanek and his wife. The couple have seen their monthly home loan bills soar more than 70 per cent since the start of the...
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