The Housing Affordability Index (HAI) is once again flashing red for California. Los Angeles and Orange counties are two of the most expensive markets to rent relative to what people earn in the area. The The HAI is showing that once again, California is incredibly overpriced.
Wells Fargo officially reaches $1.2B settlement over its FHA lending Wells Fargo reaches $1.2B settlement with U.S. government, admitting deceit in dealing risky mortgages. But Wells Fargo held out, and its payment is the largest in FHA history over loan.
· Rising interest rates push up borrowing costs for home and auto loans. If you already locked in a 30-year mortgage at the ultra-low rates that have prevailed over the past several years, you were probably smart. According to Freddie Mac, 30-year mortgage rates are 3.7% on average today, compared with nearly 6% a decade ago.
Wall Street’s new housing frontier: Single-family rental homes – That impression quickly changed after a storm hit. at the bottom of the chain were ultimately homebuyers. In most instances, a mortgage lender would lend a homebuyer money for their purchase and.
· Mortgage rates had been at or near historical lows for a long time. These tend to go in cycles, and rates have started to inch back up.There’s more than one reason for this. The first is that the Federal Reserve has started to slowly raise short-term interest rates, (the rates at which banks borrow money), which has a couple of effects: It becomes more expensive for banks to borrow money.
Reminder: Millennials want to buy homes! Are servicers finally off the CFPB’s hit list? ” . . . the Consumer Commission has sought to balance the interests of the creditors in obtaining clearance before they engage in any particular conduct, with the interests of debtors seeking to enforce the discharge injunction.”At the indianapolis nactt meeting (july 16-19), a panel of Commissioners will explore recommendations that directly affect Chapter 13 practice.florida foreclosures top the charts for seventh consecutive month The good news for Nevada is that May marks the eighth consecutive month of foreclosure declines. banks repossessed 28,373 U.S. properties in May, down 6% from April and 27% year-over-year. This is.Homebuilders target active markets That’s partly why building for the 55-plus segment has been one of the brighter spots in the new-homes market, according to research from the National Association of Home Builders. who increasingly.Several factors are keeping home buying rates lower among the cohort. in the U.S. The lasting slump is a reminder of just how severe the financial. Like previous generations who came of age during hard economic times,
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Rates hit their historical lows in late 2012, when 30-year fixed rates averaged. Freddie Mac's records indicate that 30-year fixed-rate mortgage.. Sometimes, lenders try to woo you with a rock-bottom rate and hope you. If you expect to stay in a home for three years, a higher interest rate won't hurt much,
Santander Bank selling 14 Pennsylvania branches to First Commonwealth Bank Indiana-based First Commonwealth Bank has announced that it is purchasing 14 branches of Santander Bank in central Pennsylvania. First Commonwealth, which also has been in growth mode in Ohio.
On April 1st we had a tornado in our area that caused a oak tree to go through the middle of our house. Since my mother-in-law received the insurance check on April 11th we have been dealing with her mortgage company HFC Beneficial HSBC to release the insurance check so.
Six Mass. banks fight foreclosure ordinances SPRINGFIELD, Mass. (AP) — A federal judge on Tuesday upheld two Springfield anti-foreclosure ordinances, ruling against six banks that sought to overturn the regulations. U.S. District Judge.
The primary reason: historically low mortgage rates driven by rock-bottom interest rates, which expand buying power and create a sense of urgency for buyers to capitalize on low rates while they can..
Moody’s: Single-family rental equity securitization poses more risk In our Financial System Review, we identify the main vulnerabilities and risks to financial stability in Canada and explain how they have evolved over the past year. This issue reflects the Bank’s judgment that the vulnerabilities associated with high household debt and imbalances in the housing market have declined modestly but remain significant.
UPDATE 1-U.S. mortgage rates hit record low – Freddie Mac. – · NEW YORK, Sept 2 (Reuters) – U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a.