Effective April 18, 2019, the Department of Housing and Urban Development (HUD) enacted rule changes for down payment assistance on Federal Housing Administration-backed mortgages.
Urban markets have been impacted most by the recent housing market slowdown, according to a new study of exurban, suburban, and urban market trends in the 100 biggest U.S. metros.
A new study of home building employment finds that of the 10.3 million Americans working in construction in 2017 (the most recent data available), more than 4 million worked in residential construction, or 2.6 percent of the nation's civilian labor force
According to Freddie Mac's latest data, the 30-year fixed-rate average hit 4.17 percent, up five basis points over the previous week and down 30 basis points annually.
The nation's housing markets, even in the priciest ZIP codes, are shifting in advantage toward home buyers after years of favoring sellers. Year-over-year, 10 times as many of the 100 biggest U.S. metros now favor buyers.
Home prices in Los Angeles, Orange, and San Diego counties in California fell in March 2019, the first annual decline for LA and San Diego counties since 2012, and the third for Orange County since December 2018.
JPMorgan Chase and Wells Fargo recently released their latest earnings reports, showing that mortgage originations and lending had double-digit drops over the previous year, and JPM CEO Jamie Dimon told analysts, “Non-banks are becoming competitors."
Along with billions of dollars in new investments from companies like Amazon, Nashville is bringing in about 100 new people per day. Local leaders recently spoke at the Urban Land Institute's Spring Meeting in Music City.
A new study of Baby Boomers' median debt balances in the 100 biggest U.S. cities finds that it's bigger in Texas. Houston Boomers had the highest median balance in the study, $31,626.
First-timers and downsizers are increasingly heading to the exurbs in search of affordable, and often newer single-family homes in communities with lower density.