This region of the U.S. has the lowest rate of home price appreciation, according to a recent report. Find out where it’s located and what’s causing it ahead.
Read More »FOMC: Economy Strong Enough to Raise Interest Rates
The Federal Open Market Committee voted Wednesday to raise interest rates for the second time this year to 1-1.25 percent, a move that was widely expected amongst economists and industry professionals and described as “prudent” by FOMC Board of Governors Chair Janet Yellen. Back in March, they voted to increase the rate a modest quarter of a point to maintain the Fed’s goal of maximum employment and market stability. The FOMC is of the opinion that waiting too long to scale back accommodations could potentially cause a rapid increase in rates, which could disrupt the market and send the economy into another recession.
Read More »Supreme Court: Secondary Markets Not Subject to FDCPA Regulations
On Monday, a unanimous Supreme Court decision could have vast implications for the mortgage and loan industry, particularly the secondary market, unless the Fair Debt Collection Practices Act is amended by Congress. The petitioners brought their case in front of the Supreme Court in an appeal of the 4th Circuit Court ruling in favor of the respondent. Justice Neil Gorsuch delivered his first opinion since his conferral to the Court.
Read More »Secretary Carson Defends HUD Budget Proposal Before Housing Subcommittee
The 2017 Housing Budget appeared in front of the U.S. House of Representatives Appropriations Subcommittee Thursday morning and was met with strong words from its members. While defending the proposal, Secretary Carson remained poised, articulate, and open as he fielded questions and concerns. He went on to say that the playbook needed to be changed because, “the pie is only so big.”
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