Government-owned Fannie Mae and Freddie Mac must be reformed, yet if done badly, it could threaten the U.S. housing market and possibly make 30-year mortgages obsolete. But a Senate Banking Committee member issued “guiding principles” that have been backed by NAR.
Even with eviction and foreclosure bans in place, HUD’s 2020 report found an overall 2.2% increase in homelessness last year and no improvement for homeless veterans.
Rates broke the 3% barrier two weeks ago and have increased each week since, leading Freddie Mac’s chief economist to call buyer competition “a challenging reality.”
Faced with a strengthening economy, some observers expected the Fed to tighten the timeframe for interest rate hikes, but it stuck to 2023 after a meeting this week.
Homeowners with a mortgage – 62% of all U.S. owners – made an average $26,300 last year as equity skyrocketed. It’s the highest one-year equity increase since 2013.
About 40% of a new-home build can be completed in eight days or less with a (really big) 3D printer; it sells for a least 20% less than a comparable non-3D home.