Start by picking the right real estate school, then learn as you go and study for exams. Once licensed, pick a brokerage with a culture that fits your personality. NEW YORK – How do you get started in the real estate industry? Prospective agents should be aware of some licensing mistakes made by others before … Read more
The unemployment rate should be slowly rising as companies cut back, but an April report showed “surprising resilience” with 253K new jobs added. WASHINGTON (AP) – America’s employers added a healthy 253,000 jobs in April, evidence of a labor market that still shows surprising resilience despite rising interest rates, chronically high inflation and a banking … Read more
It’s not a sign of huge problems so much as a normal part of the economic cycle. Some of the weaker banks simply don’t have enough funds to weather a slowdown. NEW YORK – Few investors and bankers could have imagined regulators would allow the largest U.S. lender to buy another bank and become even … Read more
Even under new loan-fee rules, borrowers with low credits scores pay higher fees (1.625% if a 660 score) than those with stronger credit scores (0.625% for 740). NEW YORK – A new federal rule that went into effect this month aims to improve mortgage accessibility for people with lower credit scores; however, some say that … Read more
The Fed’s rate-hiking streak may (or may not) have ended, but that won’t lower mortgage rates. They’ll now likely fluctuate based on overall economic strength. LOS ANGELES (AP) – Homebuyers should get used to painfully high mortgage rates, despite this week’s signal from the Federal Reserve that it could finally pause its yearlong campaign of … Read more
STARKVILLE, Miss. – Small businesses – the heartbeat of the U.S. economy – are beginning to feel the pinch of tighter credit conditions as the Federal Reserve continues to increase borrowing costs. A flurry of headlines in recent weeks has suggested a credit crunch – meaning the availability of lending gets scarcer – is already … Read more
While the survey of lenders took place before the Fed’s interest rate increase, lenders likely priced loans with that expectation. Last week’s average rate was 6.43%. LOS ANGELES (AP) – The average long-term U.S. mortgage rate edged lower this week, a modest boost for homebuyers looking for relief as a stubbornly low inventory of properties … Read more
Even economists stumble when it comes to mortgage-rate predictions, but little should change. Lenders expected Wed.’s increase and already baked it into current rates. NEW YORK – Wednesday’s interest-rate increase by the Federal Reserve has likely already been priced into current mortgage rates, suggesting little will change based, at least, on Fed decisions. Economists say … Read more
The quarter-point hike puts the benchmark rate at 5.1%, the highest in 16 years. But amid bank turmoil, the Fed also signaled future hikes could be put on hold. WASHINGTON (AP) – The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level … Read more
How does Risk Rating 2.0 – a new way to bill customers who take out flood insurance – impact homeowners and buyers? WASHINGTON – Risk Rating 2.0 went into effect fully on April 1, 2022, changing the way the National Flood Insurance Program (NFIP) calculates flood insurance premiums. What is Risk Rating 2.0? Risk Rating … Read more
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