Builder Magazine, Mar. 16, 2017Millennials in Pittsburgh, Washington D.C., and Des Moines, are pursuing home ownership more than their counterparts in any of the nation’s 100 largest cities, according to a new study by LendingTree.
Category: Top National News
Trump Budget Slashes HUD Funding But Keeps FHA Intact
National Mortgage News, Mar. 16, 2017–Brian Collins (subscription)President Trump’s budget released Thursday calls for slashing HUD funding by 13%, or $6.2 billion, compared with 2016 levels, a blow to many bankers who say affordable housing programs and other HUD initiatives are vital to their work.
California Home Sales Start Year Off Strong…But Will That Last?
HousingWire, Mar. 16, 2017–Brena SwansonThe Golden State recorded an increase in home sales between December and January this year, which is a major feat given that this hasn’t happened since 2012.
An Ohio County Is About to Foreclose on a $5 Million Basket
Bloomberg, Mar. 16, 2017–Polly MosendzAfter languishing on the real estate market for months, a multimillion-dollar, seven-story, basket-shaped building will soon be the property of Licking County, Ohio. A foreclosure is imminent, according to local officials.
Mortgage Bankers Lift 1st Half Origination Forecast
Mortgage Daily, Mar. 16, 2017The Mortgage Bankers Association said the country’s mortgage bankers have grown more optimistic about the level of residential loan originations during the first half of this year.
CRE Sector Adjusts to Rising Interest Rate Environment
National Real Estate Investor, Mar. 16, 2017–Diana BellIndustry professionals do not expect the Federal Reserve’s gradual increases to be too disruptive to commercial real estate capital markets.
Radian Expands Jumbo Mortgage Programs
Mortgage Daily, Mar. 16, 2017Changes to Radian Guaranty Inc.’s guidelines include insuring a non-agency jumbo product offered by a unit of United Guaranty Corp.’s former parent.
Schumer Calls for Protecting Mortgage Interest Deduction
Buffalo News, Mar. 16, 2017–Matt GlynnSen. Charles Schumer, D-N.Y., is pushing back against what he sees as threats to deductions for mortgage interest and local and state property taxes.
U.S. Housing, Factory Data Underscore Economy’s Resilience
Reuters, Mar. 16, 2017–Lucia MutikaniU.S. homebuilding jumped in February as unseasonably warm weather boosted the construction of single-family houses to near a 9-1/2-year high, suggesting the economy remained on solid ground despite an apparent slowdown in the first quarter.
Trump’s Budget to Defund NeighborWorks America and Other Housing Programs
HousingWire, Mar. 16, 2017–Kelsey RamirezWithin the housing market, one of the independent agencies that will be completely defunded is Neighborhood Reinvestment Corp., also known as NeighborWorks America.