Happy Valentine’s Day, Mr. President. Another Executive Order (EO) bites the dust. This time the EO issued for Reducing Regulations and Controlling Regulatory Costs. According to a memorandum issued by the Office of Information and Regulatory Affairs’ acting Administrator, Dominic Mancini, the requirements outlined in Section 2 of the EO do not apply to all agencies. One agency that is…
The Consumer Confidence Index, as measured and reported by the Conference Board of New York, slipped slightly in January after hitting a record high in December. This may be somewhat due to consumers settling in after the November elections. Although the Expectations Index fell to 99.8 from 106.4, the Present Situation Index actually increased to 129.7 from 123.5. So, it…
There’s been much speculation surrounding President Trump’s Executive Order calling for the review of Dodd-Frank. This could include anything from amendments to the rule, the elimination of the CFPB, to an outright repeal of the Act. No one really knows for sure exactly what will happen. One thing we do know is that when the order was signed by the…
According to the Fed, due to weaker than expected gross domestic product returns, the Fed rate will remain unchanged. In other words, because they don’t see what they would like to see, rather than increase rates, they decided to tap the brakes and evaluate the situation. Umm, where did I hear that before? Seems like the prudent thing to do.…
Mortgage applications declined in last week by 3.2%, an 18% decline from the same period last year. According to some reporters, this decline is the direct result of President Trump’s decision to suspend the FHA annual premium rate cut announced by FHA just prior to his inauguration. (Applications) Get real… Yes, applications are down, and yes, somewhat because of the…
With a new Administration comes a new look at housing and homeownership. Homeownership rates have been on the decline since the housing crash of 2008. To get them back on track, it may be time for some changes. The stigma associated with mortgage lenders is fading. Taxpayers and home buyers have much more confidence in mortgage lending and lenders. The…
