Fed: Expect an Interest Rate Hike Sooner than Later
Notes released Wed. suggest a shift in Fed officials’ attitudes, and policy changes could soon induce interest rates, including mortgages, to move higher.
Fannie, Freddie Increasing Fee on Second-Home Loans
FHFA is increasing the “G-fee” on most high-balance and second-home mortgages. Translation: After April 1, buyers seeking these loans will pay a bit more.
High Prices for Lumber? It’s Back
After a summer dip, lumber prices almost tripled over the past four months. Builders say the increase adds more than $18.6K to the price of a new home.
Class-Action Surfside-Collapse Lawsuit Pushed to 2023
The judge says he’s disappointed a late-summer trial won’t work, but lawyers argued it wasn’t a realistic timeline given the pace of the investigation.
Mortgage Rates Hit 3.22%, Highest Level in 20 Months
The 30-year, fixed-rate loan rose from last week’s average 3.11%. A year ago, the FRM was 2.65%, though this week’s average remains low by historical standards.
Beware Smishers: Not All Texts Are Good Texts
Many texts from scammers get blocked by security software, but sophisticated ones from professional scammers can still get through.
Home Co-owner: Leave Share to Other Owner in Will?
RE Q&A: Is that the better plan, or should the co-owner draft a deed to safeguard his share for his friend and co-owner of the house?
Millennials Are Supercharging the Housing Market
CoreLogic: From Jan.-Aug. 2021, millennials made up about 67% of first-time home purchase loan applications and 37% of repeat purchase applications.
Americans Quit at Record Pace in Nov.
Despite high job openings, 4.5M workers (3%) quit their jobs in Nov. Analysts predict worker shortages likely will continue, but ease in 2022.
Fannie, Freddie Should Consider Climate Change
Financial risks caused by climate change pose “a serious threat to the U.S. housing finance system,” says FHFA Acting Director Sandra Thompson.