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…
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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…
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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…
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Mortgage Rates Hit 5.89 Percent
Some banks offer zero-down financing. As the Federal Reserve attempts to curb inflation by increasing interest rates, mortgage rates continue to rise. The home lending rate is now…
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Housing Starts Drop Nearly 10 Percent
New construction is at the lowest level since June 2020. The Commerce Department reported the number of housing starts decreased sharply in July. Measured on an annualized rate,…
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Household Debt Tops $16 Trillion for First Time
Credit card balances grow to their highest level in 20 years. The New York Federal Reserve reported that household debt climbed past $16 trillion in the second quarter…
Read MoreFed Raises Rates 0.75 Percent Again
Credit tightens as the economy begins to slow. On Wednesday, the Federal Reserve raised its benchmark interest rate by three-quarters of a point for the second straight time…
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Congress Concerned by Current VA Home Loan Program
Veterans turning to other options besides VA mortgage program. A letter from members of Congress to Secretary Denis McDonough of the Department of Veterans Affairs was released on…
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HUD Successfully Refinances Bronx Co-op City Complex
Preserves long-term housing for over 45,000 residents. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge announced last month that the Bronx’s Co-op City Complex successfully…
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FHA Lifts Some Temporary Transaction Underwritings
Rolls back measures put in place April 2020. On Monday, The Federal Housing Administration (FHA) announced that they would be removing temporary COVID-19 underwriting mitigants for multifamily transactions…
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