CNBC, Sept. 21, 2105–Rosenfeld, Everett The Federal Reserve can still hike interest rates later this year, according to a key central bank decision maker.
Category: Top National News
Fed Can’t Solve Housing Puzzle Alone
Wall Street Journal, Sept. 20, 2015–Jakab, SpencerIt is worth asking whether the Federal Reserve’s decision last week to keep interest rates near zero for a bit longer will give a fillip to home sales.
Big Landlords to Merge, Betting on Rising Rents
Wall Street Journal, Sept. 21, 2015–Dezember, Ryan Two big owners of single-family rental homes said Monday they have agreed to merge, a bet that rents will keep rising and homes will remain difficult for many Americans to buy.
The CFPB Just Made it Easier to Get a Mortgage in Rural, Underserved Areas
Housing Wire, Sept. 21, 2015–Swanson, BrenaThe Consumer Financial Protection Bureau finalized several changes to its mortgage rules to expand access to credit to small creditors, particularly in rural and underserved areas.
Improving Housing Market Bolsters Lennar’s Bottom Line
New York Times, Sept. 21, 2015Lennar’s results for its third fiscal quarter beat analysts’ estimates as it delivered more homes and new orders rose in an improving housing market.
Renters Will Continue to Struggle for the Next Decade, Harvard Study Says
Wall Street Journal, Sept. 21, 2015–Kusisto, Laura Renting is unlikely to get easier anytime soon. An estimated 11 percent more households will pay more than half of their incomes in rent in 2025, according to a new report from Harvard University’s Joint Center for Housing Studies and Enterprise Community Partners.
Wells Fargo to Raise Minimum Credit Scores on FHA Loans
National Mortgage News, Sept. 18, 2015–Berry, Kate
Wells Fargo is raising minimum credit score requirements on Federal Housing Administration loans, part of the ongoing jockeying by large banks to limit lawsuits by the Justice Department for defective FHA loans.
Locked Out of Boom, Buyers Hunt for New Housing Hot Spots
Miami Herald, Sept. 18, 2015–Nehamas, Nicholas For South Florida’s middle class, the dream of owning is slipping out of reach. Home prices in the region are up nearly 45 percent since 2012, but local wages have stayed flat, lagging well behind inflation.
Fewer Underwater Mortgage Holders
New York Times, Sept. 18, 2015–Prevost, Lisa
The share of underwater mortgage holders dropped by more than half since peaking in early 2012, driven by rising home values at the lower end of the market, a turnaround from last year.
Homebuyers Find New Loan Forms Easier to Digest, But Closings Could Take Longer
Columbus Dispatch, Sept. 20, 2015–Welker, JimConsumers who buy a home after Oct. 2 should find their loan documents easier to understand, thanks to new federal rules. But they will probably wait longer to close on the loan and might pay more for it.