Recently, we’ve read and heard much about what needs to be done to improve homeownership opportunities. A recent survey shows that many Americans are concerned with the housing market and believe the presidential candidates need to address this issue. The surveys say the lending industry and the government need to do more. Is this true or is it that consumers…
The jury is still out on what the overall effects will be from Britain’s exit from the European Union. One thing seems certain, home mortgage interest rates will remain low, and may even decrease further in the short-term. Would that be “Ratefall” or “Lowrates”? That is good news for consumers. With the fed expected to keep rates low, for now,…
What does Britain’s exit from the European Union, or Brexit, mean for us here in the USA? There’s much speculation but one thing for sure is the effect on the mortgage rates. The Fed had previously increased rates with plans for a few more hikes in 2016. Partly based on speculation that Britain might leave the EU, they decided to…
Wholesale lenders and brokers are looking to CFPB to clarify TRID rules for disclosures. Many hope this clarity will come with the new proposed rulemaking in July. For now, concern and confusion exist. (Disclosure) Under the new rules, CFPB has made it quite clear that the lender making the loan is the entity responsible for compliance. The lender may delegate…
There is an ongoing concern for the national homeownership rate. It’s way down to only 63.5%. That’s a huge drop of 5.6% from the peak (pre-2008) of 69.1%. (I hope you get my sarcasm). Is the fact that more than 60% of Americans now own their home so terrible? Given what happened when the homeownership rates crept up close to…
Another day; another survey on housing. This one is from the John D. and Catherine T. MacArthur Foundation. Based in Chicago, this is the 12th largest private foundation in the US according to asset size. Pretty impressive. According to this survey about two-thirds of Americans believe that something needs to be done about housing affordability and that the current presumptive…
