News and Notes

In the vast landscape of the United States, the role of a US senator holds immense significance, with the Constitution granting each state the privilege of having two senators to advocate for constituents' interests. Following a similar principle, the Association of...

Mortgage rates have experienced a sudden surge, surpassing the 7% mark despite recent indications of rates being in the 6.7% range. This unexpected rise, accounting for points, brings the actual average back above 7%. Today's index shows a leap to 7.04, leading...

The commercial real estate market can be a daunting landscape, with inflation and unpredictable interest rates creating challenges for investors. However, amidst the uncertainties, there is a silver lining - small multifamily properties. These properties are emerging...

In a move aimed at enhancing accessibility and inclusivity, the Federal Housing Administration (FHA) has mandated that lenders offering FHA loans must now inquire about the language preference of mortgage applicants. Effective from August 28, 2023, lenders will be...

Based on the 2023 Planning and Progress study by Northwestern Mutual, the average retirement savings in the United States have experienced a 3% boost, reaching $89,300 in 2023 compared to $86,869 in 2022. However, there has been a notable surge in the expected...

Considering the positive findings from yesterday's robust assessment of new home sales and the slightly enhanced report on pre-owned home sales, the volume of mortgage applications may suggest that the spring housing market hasn't completely disappeared. It could be...

In a recent survey conducted by Mphasis Digital Risk, involving 1,386 individuals aged 46 or below, it was found that 66% of this group admitted to frequently going online to assess the worth of properties owned by friends and acquaintances. Moreover, they expressed a...

In 2023, people hoped for housing prices to drop and make it easier to enter the market. However, prices are still rising in many areas due to economic uncertainty and low inventory. Interestingly, six cities are experiencing significant price declines, defying the...

The Federal Reserve asserts that prominent US banks are in a robust position to withstand the effects of a significant economic downturn and sustain their lending operations. In its latest annual banking stress test results, released today, the central bank declared...

According to the Mortgage Bankers Association, there was a notable rise in purchase applications, leading to increased demand for mortgages during the week ending June 23. The MBA's weekly survey indicated a 3% increase in mortgage loan application volume when...