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 »
A long-term rise in the homeownership rate ended last year, and the latest report from the Harvard Joint Center for Housing Studies examines some reasons why. A widening gap between housing costs and wages contributed to the 30 basis-point drop in the ownership rate year over year to 65.6%, according to Census data. This marks
Homeownership stalls after a decade of gains Read More »
Rocket Mortgage unveiled a new equity-backed financing product aimed at giving homebuyers an advantage when vying for homes in competitive markets. The Detroit-based lender’s new bridge loan offers prospective buyers the opportunity to draw into their accrued equity to put down an offer on a new purchase while still living in their existing property. Borrowers
Rocket introduces buy-before-you-sell bridge financing Read More »
In the four years since the Surfside condo collapse, a wave of regulatory changes continues to unsettle property owners and lenders, compounding challenges in an already fragile housing market. The scrutiny on condo developments in the aftermath of Surfside led to tightened lending rules that continue to put properties across the country onto a nonwarrantable
Nonwarrantable condos fuel niche lending boom Read More »
The president should unwind the federal government’s stake in Fannie Mae and Freddie Mac, and direct the proceeds to a housing remainder trust designed to close critical gaps in real estate lending, writes Joshua Rosner, of Graham Foster & Co.Adobe Stock America’s post-pandemic paradox is clear: The economy keeps adding jobs, but the supply of
Trump could solve the housing crisis with no help from Congress Read More »
Rhode Island real estate professionals are criticizing two new taxes that will increase costs for Ocean State homeowners, including a levy dubbed the “Taylor Swift tax.” State lawmakers last week approved a $14 billion fiscal year 2026 budget, which now awaits Gov. Dan McKee’s signature. Included in the proposed budget is a 63% increase in
‘Taylor Swift tax’ draws ire from mortgage, housing groups Read More »