News

A Bank of America study revealed that the vast majority of prospective homebuyers expect home prices and interest rates to fall in the coming year, so they’re waiting until then to purchase a home. But how likely is that to happen? BofA experts unveil more in their latest Homebuyer Insights Report.

In a new report, HUD’s Office of Inspector General outlines the most serious management and performance issues facing the Department in fiscal year 2024.

“We expect unemployment to rise modestly next year, which will likely lead to an equivalent rise in borrower defaults,” saidChris Grimes, a Senior Director at Fitch Ratings. “However, strong borrower credit characteristics and favorable home equity build-up for the majority of homeowners should moderate the frequency and severity of ultimate mortgage insurance claims.”

According to a new report, the market will continue to be characterized by highly competitive buyers trying to snap up any and all available inventory.

“Mortgage rates are dropping due to easing inflation and investors betting the Fed will cut interest rates sooner than expected," said Redfin Economics Research Lead Chen Zhao. “Declining rates, along with a sizable year-over-year increase in new listings, are leading to more favorable conditions for some buyers."

Attorney Roy Diaz takes a look at the Florida Bar’s Proposed Advisory Opinion regarding a lawyer’s use of generative artificial intelligence, as oversight may be drafted to ensure compliance with ethical standards.

Month-over-month, contract signings intensified in the Northeast but diminished in multiple other U.S. regions. First American Deputy Chief Economist Odeta Kushi commented, “While there remains quite a bit of demand for homes on the sidelines, you can't buy what's not for sale, even if you can afford it.”

In a letter, nearly 80 consumer, energy, housing, health, manufacturing, and environmental organizations called on the Federal Housing Finance Agency to help lower costs and make housing safer and healthier, in addition to suggesting requirements that all new homes with mortgages backed by Fannie Mae and Freddie Mac meet updated energy codes.

While the housing market remains unpredictable, a surprising percentage of surveyed Americans report wanting it to crash in 2024, according to a new LendingTree study, as many believe that might be the only way they could afford a home.

Attorney Jamie Juster of McCalla Raymer Leibert Pierce discusses a recent case where the borrower argued that their lender failed to comply with HUD regulations by not conducting a face-to-face meeting to discuss loss mitigation options prior to foreclosure.