Top Headlines
Treasury Department Rolls Out New Initiative to Increase Housing Affordability
“Given the scale of the challenge, we must and will continue to do more,” said Treasury Secretary Janet Yellen. Continue Reading Treasury Department Rolls Out New Initiative to Increase Housing Affordability
Home Depot Foundation Grants $9M to Provide Housing for Homeless Veterans
The funds will support the construction of more than 300 new housing units and the repair of nearly 200 additional units. Continue Reading Home Depot Foundation Grants $9M to Provide Housing for Homeless Veterans
Ginnie Mae President Alanna McCargo to Resign
McGargo became Ginnie Mae’s 18th president and first female leader in December 2021. Continue Reading Ginnie Mae President Alanna McCargo to Resign
Community Associations Institute Seeks Exemptions from Corporate Transparency Act
Last month, a federal court ruled the act was unconstitutional but did not issue an injunction blocking its enforcement. Continue Reading Community Associations Institute Seeks Exemptions from Corporate Transparency Act
Chicago’s Qamar Group Joins The Real Brokerage
Qamar Group offers 36 agents who serve the Chicago metro area, along with markets across Michigan and Wisconsin. Continue Reading Chicago’s Qamar Group Joins The Real Brokerage
Surging mortgage rates hitting first-time homebuyers ‘the hardest’: Real estate expert
Source: Fox Business --- While the real estate market shows signs of cooling down after the 30-year fixed mortgage rate hit its highest level since 2008, one expert issued a timely warning to first-time homebuyers: "We've seen rates even above 6%, and it's really...
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...
Utah housing prices soar to new records, but is a buyer’s market coming?
Source: KUTV --- SALT LAKE CITY (KUTV) — Housing prices along the Wasatch Front have soared to record levels yet again. New numbers from UtahRealEstate.com, provided to KUTV 2News by the Salt Lake Board of Realtors, show the median sales price for a single-family home...
Housing Market Update: Share of Homes with Price Drops Reaches New High as Mortgage Rates Top 2008 Levels
Source: Redfin --- The highest share of sellers on record dropped their list price during the four weeks ending June 12 as mortgage rates shot up to levels not seen since 2008, dwindling the pool of home shoppers. Still, homebuying has never been more expensive. The...
Homebuilder sentiment drops to lowest level in two years as housing demand slows
Source: CNBC --- Sentiment among the nation’s homebuilders fell for the sixth straight month to the lowest level since June 2020, when the economy was grappling with shutdowns stemming from the Covid pandemic. The National Association of Home Builders/Wells Fargo...
What the Fed’s rate increase means for mortgages.
Source: New York Times --- What does the Fed’s decision to raise its key interest rate by three-quarters of a percentage point mean for mortgages? [Here’s what the Fed’s decision means for credit cards, car loans and student loans.] Rates on 30-year fixed mortgages...
Mortgage Rates Drop Sharply After Fed Announcement
Source: Mortgage News Daily --- The pace of the spike in mortgage rates over the past several days has been nothing but staggering--especially considering it began when rates were already near their highest levels in more than a decade. From an average level of 5.55%...
Here’s what the Federal Reserve’s 0.75 percentage point rate hike — the highest in 28 years — means for you
Source: CNBC --- The Federal Reserve raised its target federal funds rate by 0.75 percentage points, the largest increase in nearly three decades, at the end of its two-day meeting Wednesday, in an effort to quell runaway inflation. “We at the Fed understand the...
