The Lede
Top National News
Here’s Why You Might Want to Rethink Getting an Adjustable-Rate Mortgage
CNBC, Aug. 26, 2019--Sarah O'BrienIf you've been considering a mortgage with an adjustable rate, your reasons for going that route might be disappearing.
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Forget July’s Slump in New-Home Sales, Mortgage Rates are Reviving the Housing Market
MarketWatch, Aug. 23, 2019--Jeffry BartashSales of new U.S. homes have zig-zagged up and down for months, but they appear to be creeping higher again overall with mortgage rates falling to multiyear lows.
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Powell Issues Warning Over Trade, Signals More Rate Cuts Are Possible
Wall Street Journal, Aug. 23, 2019--Nick Timiraos (subscription)Federal Reserve Chairman Jerome Powell gave his most forceful warning yet about the risks to the U.S. economy from escalating trade tensions and the limits to the central bank's ability to cushion any fallout.
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Appraisals May Soon Not Be Required on Certain Home Sales of $400,000 and Under
HousingWire, Aug. 23, 2019--Ben LaneIn November, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve released a proposal that would increase the appraisal requirement from $250,000 to $400,000, meaning that certain home sales of $400,000 and below would no longer require an appraisal. Now, the proposal is just one step away from being finalized and adopted as proposed.
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Bargain-Hunting Robocars Could Spell the End of Downtown Parking…
Fairfield Citizen (Conn.), Aug. 23, 2019--Corey HarperA 2018 parking study done by the Mortgage Bankers Association found that Seattle's parking density of 29 parking stalls per acre of land is twice its population density of 13 people per acre. Because driverless cars could park outside urban cores to avoid the higher parking charges downtown, they might considerably affect urban land use.
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The Interest Rate Declines That Have Worried Ivestors, Economists and the Fed are Your Mortgage’s Fault
Business Insider, Aug. 25, 2019--George PearkesThe dramatic plunge in interest rates over the past 10 months due to global growth worries, Federal Reserve policy shifts, and risk aversion has become one of the dominant market stories and has captured the attention of investors and policymakers alike. But another factor, undiscussed and invisible to the average investor, is also a major culprit: your mortgage.
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Millennial Mortgage Debt Levels Could Soon Top All Other Generations
National Mortage News, Aug. 23, 2019--Elina Tarkazikis (subscription)Millennial mortgage debt is on pace to reach levels higher than any other generation, according to Experian.
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Regulators Aren’t Done Rolling Back Volcker Rule
American Banker, Aug. 25, 2019--Hannah Lang (subscription)Banks notched a clear victory this past week when regulators approved a significant rollback of the Volcker Rule. But the agencies aren't finished revamping the Dodd-Frank Act restrictions on bank trading.
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Lighting Up Kitchens, Baths
UExpress, Aug. 23, 2019--Lew SichelmanIn the not-to-distant future -- circa 2025 or so -- kitchens in new homes may be little more than a table that displays recipes and menus, cooks food, warms drinks, and charges mobile devices.
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