The result will be tighter credit options for households. At its meeting on Wednesday, the Federal Reserve raised interest rates to a target range of 4.75% to 5%,…
Read MoreMortgage Lending
Fed Rate Hikes Could Come Quicker
Chairman Powell cites an unexpectedly strong economy. The Federal Reserve may speed up interest rate hikes more than expected in their endeavors to combat inflation, Federal Reserve Chairman…
Read More
November Home Sales Lower Than Expected
It is the sixth straight month of decline. The National Association of Realtors (NAR) reported that pending home sales fell 4 percent in November from the prior month.…
Read More
Wells Fargo to Pay for Legal Violations and Mismanagement
Government bureau finds the bank mistreated millions of customers. The Consumer Financial Protection Bureau (CFPB) has ordered Wells Fargo Bank to pay restitution of over $2 billion to…
Read More
FHA-insured Home Equity Conversion Mortgages Offer Flexibility
Grants homeowners relief on repaying reverse mortgage property charges. The Federal Housing Administration (FHA) has announced the implementation of the COVID-19 HECM Property Charge Repayment Plan. This plan…
Read MoreFederal Reserve Continues to Increase Interest Rates
Half a percent hike is the seventh this year. On Wednesday, the Federal Reserve again increased interest rates, by half a percentage point instead of the three-quarter percentage…
Read More
U.S. Inflation Slowed in November
Dropped more than half a percent from October. The Consumer Price Index released this week shows inflation slowed in November, providing hope that interest rates and prices may…
Read More
FHA Delivers Annual Report to Congress
COVID-19 funds were distributed to one million homeowners under mortgage insurance program. The Federal Housing Administration (FHA) recently released its annual report to Congress. Key to the report…
Read More
Federal Reserve Increases Rate Again
An additional 0.75 percent marks the fourth straight increase. The Federal Reserve raised interest rates Wednesday by 75 basis points for the fourth straight meeting while hinting at…
Read More
HUD to Hold Young Adult Homeownership Meeting
Secretary Fudge will hold a virtual “house party” on November 1. Secretary of Housing and Urban Development (HUD) Marcia Fudge announced that she will be holding a virtual…
Read More