Mortgage Rates: Highest Weekly Jump in 35 Years
The rate for a 30-year, fixed-rate mortgage jumped over half a percentage point in one week – from an average 5.23% seven days ago to this week’s 5.78%.
May Housing Starts Drop More Than 14%
Economists expected housing starts to fall last month, but the size of the drop was the steepest in more than a year. Building permits also declined by 7.0%.
‘Insolvent’ Property Insurer Headed to Receivership
Southern Fidelity is headed toward state receivership. It has 78K policies in Fla., and some of those will likely go to Citizens, the Fla.-owned “insurer of last resort.”
A Cryptocurrency Transaction? It’s Not that Different
The big difference? Money doesn’t move between banks, it moves between crypto wallets. But to pull that off, everyone in the transaction should understand the process.
Fair Housing: DOJ Says Fla. Biz Targeted Hispanics
Officials allege the groups used Spanish ads to falsely promise they’d cut mortgage payments in half – but homeowners shouldn’t pay mortgages or talk to their lenders.
Biden Order: HUD to Study LBGTQ Protections
An Executive Order issued on LGBTQ protection requires HUD to identify housing issues, provide guidance and create training under a goal-specific timeline.