Category: Top National News

Wall Street Journal, Feb. 26, 2016–Leubsdorf, Ben
The recession is over, but it’s certainly not forgotten across most of the U.S.: Unemployment last year remained elevated compared with 2007 levels in more than two-thirds of the states.

Bloomberg, Feb. 26, 2016–Chandra, Sho
Consumer purchases climbed in January by the most in eight months, fueled by faster earnings growth that’s being accompanied by rising inflation.

Washington Post, Feb. 26, 2016–Mui, Yian Q.; Marte, Jonelle
The Mortgage Bankers Association’s index of refinance activity jumped 16 percent in just one week this month as mortgage rates hit their lowest point this year. Rates have since moderated but are still well beneath what economists had projected.

Napa Valley Register (Calif.), Feb. 26, 2016
A new bill introduced by state Sen. Mark Leno, D-San Francisco, would provide protections to widows and widowers who want to stay in their home, the senator’s office said Thursday. But spokesman for the California Mortgage Bankers Association Dustin Hobbs said the bill poses a risk to lenders who would not be able to do necessary underwriting.

Associated Press, Feb. 27, 2016
General Electric says the U.S. Department of Justice has subpoenaed the company as part of an industrywide investigation into subprime mortgage lending.

Winston-Salem Journal (N.C.), Feb. 27, 2016–Craver, Richard
Nontraditional lenders, foremost Quicken Loans, are making headway with all-online applications that are growing in popularity even as the mortgages potentially carry more risk for lender and borrower.

Miami Herald, Feb. 26, 2016–Harney, Kenneth R.
Pushed by regulators and consumer groups to expand home loan opportunities for first-time and moderate-income buyers, major mortgage players have come out with nationwide programs designed to turn renters who are creditworthy – but don’t have big down payments or closing-cost cash – into homeowners.

Wall Street Journal, Feb. 27, 2016–Kirkham, Chris
Apartment construction has been a bright spot in an otherwise lackluster recovery of the nation’s housing market over the last six years. Now economists say the tide might be turning away from apartments and toward single-family homes.

Wall Street Journal, Feb. 28, 2016–Light, Joe
For the eighth straight year, the market for mortgage-backed securities issued by private financial institutions, as opposed to government-backed companies or agencies, was moribund in 2015.

Washington Post, Feb. 25, 2016–Orton, Kathy
Since mortgage rates are closely tied to the movement of long-term bonds, interest rates on home loans continue to tumble.