Wall Street Journal, Jan. 5, 2020–David Harrison (subscription)The Federal Reserve has ample tools for fighting a potential recession even though its benchmark interest rate remains historically low, former Fed Chairman …
Category: Top National News
FHA Puts Defect Taxonomy Revisions in Place to Encourage Bank Lending
National Mortgage News, Jan. 3, 2020–Bonnie Sinnock (subscription)The Federal Housing Administration has implemented defect taxonomy revisions for 2020 that it considers one of several milestone achievements in its efforts to …
Fed Has Many Tools to Deter Recession, Former Chairman Bernanke Says
Wall Street Journal, Jan. 5, 2020–David Harrison (subscription)The Federal Reserve has ample tools for fighting a potential recession even though its benchmark interest rate remains historically low, former Fed Chairman …
Online Reviews Not Always Trustworthy
UExpress, Jan. 3, 2020–Lew SichelmanUnscrupulous tactics show why homebuyers and sellers should be particularly careful when selecting homebuilders, real estate agents, mortgage brokers and remodelers. https://www.uexpress.com/housing-scene/2020/1/3/online-reviews-not-always-trustworthy
Ben Carson’s HUD Will Propose New Rule, Further Weakening Enforcement of Fair Housing Laws
Washington Post, Jan. 3, 2020–Tracy JanThe Trump administration will propose a new rule as early as Monday that would reduce the burden on local governments to meet their fair housing …
What’s the Fed’s Next Move on CRA Reform?
American Banker, Jan. 3, 2020–Brendan Pedersen (subscription)When regulators unveiled proposed reforms to the Community Reinvestment Act last month, one of the biggest takeaways was the lack of support from the …
U.S. Factory Gauge Unexpectedly Falls to Lowest Since 2009
Bloomberg, Jan. 3, 2020–Reade PickertU.S. manufacturing closed out a tumultuous year with the weakest monthly performance since the end of the recession, with orders shrinking and factories continuing to dial …
U.S. Construction Spending Rises 4.1% from November 2018
HousingWire, Jan. 3, 2020–Alcynna LloydIn November, U.S. construction spending amounted to $1.324 trillion, which is 4.1% above the previous year’s rate of $1.271 trillion, the Census Bureau said.https://www.housingwire.com/articles/u-s-construction-spending-rises-4-1-from-november-2018/
Fed Minutes Show Comfort with Prolonged Pause on Rates
Wall Street Journal, Jan. 3, 2020–Nick Timiraos (subscription)Federal Reserve officials indicated they were in no hurry to reverse last year’s rate cuts when they met in mid-December and appeared comfortable …
Unexpected Sie Effect of Iran Strike: Mortgage Rates Stay Low as Investors Flock to Bonds
CNBC, Jan. 3, 2020–Diana OlickThe average rate on the U.S. 30-year fixed mortgage is now at the lowest level in a month, thanks to a run on the bond market …