Buyers would be hurt financially if the U.S. defaults on its debt June 1 – and institutional investors are a “tremendous threat” to the American dream. WASHINGTON – The Realtors® Legislative Meetings kicked off Sunday morning in Washington, D.C., with a discussion on the debt limit, an issue currently enveloping Washington that could have a … Read more
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
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