June 13,2018 – Washington DC, – Today, the Federal Reserve hiked its benchmark interest rate by a quarter of a percentage point. This is the second time they raised key rates this year. The Fed chief pointed to 3.8% unemployment rate and rising inflation as the driving force in today’s rate hike. The Federal Reserve… Read More »
May 1, 2018 – Washington DC, – This week Treasury Secretary Mnuchin confirmed what most in the mortgage industry already knew: Fannie Mae and Freddie Mac will not be reformed this year. However, the secretary stated that he is bullish that reform of Fannie and Freddie could happen in 2019. He said in an interview to… Read More »
Washington, D.C. April 24, 2018 – Acting Consumer Financial Protection Bureau (CFPB) Director Mick Mulvaney stated today that changes would be coming to the consumer watchdog agency, starting with the name of the agency itself. Mulvaney noted at an American Bankers Association conference in Washington DC that change is on the agenda at the CFPB in… Read More »
Washington, D.C. April 24, 2018 – The new tax laws that have taken effect in 2018 will likely lead to a major reduction in the number of homeowners who itemize their taxes and take the mortgage interest deduction, according to a congressional report released this month. The report estimates 13.8 million Americans will still claim the… Read More »
Washington, D.C. April 16, 2018 – A new banking bill has been working its way through Congress this year, and it could have an impact on big and small banks, credit unions and many Americans. What is going on and how could it affect you and your mortgage? The Senate approved a bill in… Read More »
Washington, D.C. March 12, 2018 – This week, the U.S. Senate is scheduled to vote on a bill that would unwind finance rules passed in 2008. This Dodd-Frank bill created requirements for banks and credit unions to report more data to prevent discriminatory abuses. According to a Consumer Financial Protection Bureau 2013 data, the new… Read More »
Washington DC, Wednesday, 12/18/2017 – The Republican party has come together to deliver a tax-reform bill that will be backed by all GOP senators and most GOP House members. This means that it is almost guaranteed it will be passed this week and be signed by the president before the end of the year. Now… Read More »
Washington DC, Wednesday, December 6, 2017 – Mortgage interest rates have now fallen lower than they were reported a year ago at this time and this has led to a slight increase in loan applications from the previous week. According to the Mortgage Banker Association’s weekly report, the total applications for home mortgages increased 4.7% last… Read More »
Washington DC, Tuesday, November 21,2017 – Interest rates on home mortgages were all over the place today. Of course, this happens as mortgage lenders across the United States are utilizing a combination of private money and government-backed finance programs like the FHA, VA, Fannie Mae and Freddie Mac. Today interest rates on FHA loans fell… Read More »
Washington, D.C. November 16, 2017 – Mortgage rates rose this week, according to the Weekly Freddie Mac Survey of interest rates conducted nationally. The 10-year Treasury yield inched up 6 basis points, while the 30-year interest rates on home mortgages bumped up 5 basis points to 3.95%. The 15-year fixed loan rose to 3.31%, up from 3.24%… Read More »
November 15,2017, Washington DC – Today, the Federal Housing Administration (FHA) released its 2017 Annual Report to Congress on the economic condition of the agency’s Mutual Mortgage Insurance Fund (MMI Fund). FHA published the 2017 Annual Report that posts the facts and statistics of the MMI Fund. FHA reports that at the end FY 2017, the… Read More »
Nov. 9, 2017, Washington D.C. – The Senate announced new revisions in a tax bill announced Thursday. The latest version of the GOP tax bill would limit the mortgage interest deduction to $1 million. The Senate’s proposed tax bill reverses the House plan that would have capped the deduction at a $500,000 mortgage. According to the… Read More »
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