News

NEWS: Mortgage rates at 18%? That’s what we got the last time a president strong-armed the Fed

September 23, 2019 Kathleen Howley When the National Bureau of Economic Research speaks on a disputed economic issue, it’s a bit like squabbling siblings getting a ruling from a parent. NBER is widely accepted as the arbiter of economic cycles, setting the start and end dates of recessions and expansions. Now, NBER has weighed in on one…

Read More

NEWS: Average U.S. rent climbs to $1,472 in August

September 16, 2019 Alcynna Lloyd America’s rental prices continued to grow in August, as RentCafé indicates the nation’s average rent increased $47 from the previous year. According to the company’s Apartment Market Report, the national average rent in August totaled $1,472. This is a 0.1% increase from the previous month, and also represents a 3.3% increase from the…

Read More

NEWS: Millennials drive mortgage refinance boom, and lenders are scrambling

August 9, 2019 Diana Olick Mortgage interest rates have been falling since May, especially sharply this month, so borrowers, especially millennials, are rushing to refinance. Applications to refinance were up a stunning 116% this week compared with a year ago, according to the Mortgage Bankers Association. That has lenders scrambling to keep up. Quicken Loans,…

Read More

NEWS: As Mortgage-Interest Deduction Vanishes, Housing Market Offers a Shrug

August 4, 2019 By Jim Tankersley and Ben Casselman PLAINFIELD, Ill. — The mortgage-interest deduction, a beloved tax break bound tightly to the American dream of homeownership, once seemed politically invincible. Then it nearly vanished in middle-class neighborhoods across the country, and it appears that hardly anyone noticed. In places like Plainfield, a southwestern outpost in the area…

Read More

NEWS: Housing Market Shift May Mean Price Cuts

August 2, 2019 by Lew Sichelman The housing market is definitely changing. Maybe not everywhere, at least not yet. But in most places, sellers are slowly losing their dominance and buyers are taking control. The evidence is strong: Instances of multiple offers on the same property have fallen drastically, more buyers are holding out for…

Read More