Home Equity Lending News, July 22, 2024Average quarterly interest rates on credit unions’ home-equity lines of credit retreated, while HELOC rates at banks escalated — causing the spread between the …
Category: Top National News
American Borrowers Are on Shakier Ground. These Charts Show Why.
The Wall Street Journal, July 21, 2024-Gina Heeb and Kailyn RhoneThe American economy has held up well against higher inflation and interest rates. Many individual borrowers haven’t.Click here for more …
Why Are Young, Rich Americans Ditching House Ownership?
MPA, July 22, 2024-Noel Sales BarcelonaThe number of young American millionaires—millennials and Gen Zs—is on the rise. But, even if they have that seven-digit annual income, most of them are …
Deed Theft Criminalized in New York Budget Bill
National Mortgage News, July 22, 2024-Brad FinkelsteinNew York state has criminalized deed theft, with legislation written by Attorney General Letitia James making it into law after it was included in …
Rare New York Commercial-Mortgage Bond Raises $600 Million
The Wall Street Journal, July 22, 2024-Matt WirzStahl Real Estate is finalizing a roughly $600 million refinancing of its Manhattan office building at 277 Park Avenue, people familiar with the …
US Housing Market Suffers From “Mortgage Lock-in Gap”
MPA, July 22, 2024-Noel Sales BarcelonaAmerica’s housing market is now stuck with a “mortgage rate lock-in effect,” where homeowners are unwilling to sell their homes since interest rates remain high …
Depository Share of Mortgage Servicing Declines Again in 2Q
Inside Mortgage Finance, July 19, 2024–John BancroftBanks, thrifts and credit unions serviced $3.081 trillion of single-family loans held in agency mortgage-backed securities as of the end of June, down 1.7% …
White House Pushes Rent Cap, Reigniting Debate on Housing Policy
The New York Times, July 19, 2024–Talmon Joseph SmithA proposal to make landlords’ tax breaks contingent on rent limits has drawn industry pushback, progressive applause and some alternative approaches. (MBA …
Opinion: Why the Fed Should Cut Rates Now—Not Wait Until September
Wall Street Journal, July 18, 2024–Greg IpIf the Fed were truly data-dependent and trusted its own forecast, it would be comfortable cutting interest rates now. At a minimum, the option …
Key U.S. Mortgage Rate Drops to Lowest Since March, Freddie Mac Says
Reuters, July 19, 2024–Makailah GauseThe average interest rate on the popular U.S. 30-year fixed-rate mortgage fell to its lowest level since mid-March this week, a welcome development for a housing …