Rates are now at a 22-year high. In its meeting Wednesday, the Federal Reserve increased interest rates by another quarter percent, still claiming the rate increases are necessary…
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HUD Celebrates Homeownership in Chicago
The event is one of the department’s “House Parties” to support aspiring homeowners. The Department of Housing and Urban Development (HUD) hosted a recent event promoting homeownership in…
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President’s Administration Warns Financial Firms of AI Risks
Decisions made with data sets can lead to more discrimination, not less The heads of the Consumer Financial Protection Bureau, the Justice Department’s civil rights unit, and the…
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Home Sales Up as Prices Down
Sales increased in all four national regions. For the first time in a year, existing home sales across the U.S. increased in February as prices fell at the…
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Federal Reserve Raises Interest Rates Again
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%,…
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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…
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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.…
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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…
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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…
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