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
Reverse Mortgage Pitchman Tom Selleck Fears Losing Ranch with Series’ End
“Am I set for life? Yeah, but maybe not on a 63-acre ranch,” Selleck said. Continue Reading Reverse Mortgage Pitchman Tom Selleck Fears Losing Ranch with Series’ End
Redfin Announces $9.25 Million Settlement Over Commissions Lawsuits
The settlement will also protect the company from litigation in similar cases in other jurisdictions. Continue Reading Redfin Announces $9.25 Million Settlement Over Commissions Lawsuits
Former Tesla Executive Joins Leadership Ranks at American Revitalization Company
Greg White has 35 years of manufacturing experience. Continue Reading Former Tesla Executive Joins Leadership Ranks at American Revitalization Company
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...
Bank of England scraps mortgage affordability test
Source: The Guardian --- Thousands of potential homebuyers may find it easier to get on to the property ladder after a key mortgage affordability test was scrapped by the Bank of England. The central bank has said the change – taking effect from 1 August – should not...
5 things to know about adjustable rate mortgages
Source: National Mortgage News --- Adjustable rate mortgage originations are on the rise Adjustable rate mortgage offers made to consumers searching for loans on LendingTree have zoomed in the past 12 months, increasing 230% through the first half of this year from...
China Banks May Face $350 Billion in Losses From Property Crisis
Source: Bloomberg --- China’s banks face mortgage losses of $350 billion in a worst-case scenario as confidence plunges in the nation’s property market and authorities struggle to contain deepening turmoil. A spiraling crisis of stalled projects has dented the...
Mortgage rates fall sharply after negative GDP report and Fed’s latest hike
Source: CNBC --- Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, when the Fed announced its latest rate...
Housing Market Update: Uptick in Searches and Tours Highlight Buyers’ Mortgage-Rate Sensitivity
Source: Redfin --- Since mortgage rates came down from their June high, measures of early demand like online real estate searches and home tours have ticked up and/or stabilized. A half-point drop in mortgage rates from their June high is drawing some homebuyers back...
Latest mortgage news: Rates retreat, might have already hit ‘cyclical high’
Source: Bankrate --- The Federal Reserve on Wednesday moved aggressively to rein in inflation, announcing its second consecutive rate hike of three-quarters of a percentage point. Counterintuitively, the average rate on 30-year mortgages fell to 5.59 percent this week...
The nation’s housing market is on a correction course
Source: Housing Wire --- Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experienced over the past year, according to the recently released Federal Reserve Beige...
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