A sweeping new law, branded as a pillar of President Trump’s second-term agenda, carries significant implications for the housing market, from affordable housing to investor tax breaks. Within the colossal 870-page package are a number of changes that have won applause from many in the housing industry. “These provisions form the backbone of the real […]
What the new tax law means for lenders, borrowers Read More »
Consumer homebuying sentiment slumped in June, with mounting fears over job cuts and tariff fallout darkening the housing outlook, according to Fannie Mae’s latest data. Fannie Mae’s Home Purchase Sentiment Index fell to a reading of 69.8 in June, falling 5% after it recovered to a score of 73.5 a month earlier. The latest index
Tariffs, jobs, rates: What’s sinking buyer mood most? Read More »
Americans are largely keeping up with their mortgage payments, but new data shows that cracks are forming beneath the surface, which should raise red flags for borrowers and lenders alike. The nationwide delinquency rate stood at 3.2% in May, according to ICE’s July mortgage monitor report, two basis points down from April but 5.2% higher
FHA borrowers face mounting mortgage pressure Read More »
Economic uncertainty and tariff negotiations have left home builders that lenders increasingly partner with feeling blue. Builder confidence in June sank to a low akin to the onset of the coronavirus pandemic, according to the sector’s latest monthly index. The homebuilding industry is dealing with the high mortgage rates suppressing stronger housing demand, and unique
NAHB’s top economist weighs tariffs, immigration, economics Read More »
State and local governments saw property tax revenue grow in the first quarter, but the latest increase reflected a slowdown from the reported pace a year earlier. The amount of property tax collected between January and March came in at $203.4 billion to start the year. The total surged 5.2% on an annual basis from
Property tax revenue comes in at over $203B in first quarter Read More »
A side effect of the rising costs of homeowners’ insurance is that mortgage borrowers elect to reduce coverage or take a higher deductible in order to reduce premiums. In either case, such actions could leave them underinsured and/or unable to finance repairs. This increases borrower default risk for mortgage servicers, and affects the value of
Gen Z and other homeowners to delay repairs due to economy Read More »
Even as some factors causing current affordability challenges show signs of easing, a new study points to how high a barrier many aspiring buyers still have to get over to achieve homeownership. To afford a typical U.S. home currently priced at $367,969, households earning today’s median salary would need an additional $17,670 in annual income
Buyers need up to $250K more in income in some cities Read More »
The Federal Home Loan Bank of San Francisco has invested nearly $53 million in a Fannie Mae bond issuance to support housing for very low-income residents near Fisherman’s Wharf. The $52.6 million financing will cover 230 units in the Wharf Plaza I and II buildings, which are located at 1855 Kearny St., and have 116
FHLBank San Francisco invests $53M in Fannie Mae bond Read More »
The Federal Housing Administration announced plans to introduce an across-the-board multifamily mortgage insurance premium that would eliminate incentives to adopt energy-efficiency standards. The Department of Housing and Urban Development proposed to level premiums to 25 basis points for all loans originated in multifamily programs administered by the FHA, a first step in eliminating what it
HUD moves to eliminate multifamily green-energy incentive Read More »
US purchases of new homes fell in May by the most in almost three years as rampant sales incentives fell short of alleviating affordability constraints. Sales of new single-family homes decreased 13.7% to a 623,000 annualized rate last month, a seven-month low, according to government data released Wednesday. That was below all estimates in a
New-home sales drop by most since 2022 on poor affordability Read More »