News

As Rents Increase, Buying May Be Better

Although home prices have been increasing, so too have rent prices. So with interest rates as low as they are, it may be better, financially, to purchase a home than to continue to rent. Even former HUD secretary Shaun Donovan

FHA Commissioner Carol Galante Resigns

The Mortgage Bankers Association has confirmed that Carol Galante has resigned as the commissioner of the FHA. David H. Stevens, president of the MBA said in a press release that her departure is a “great loss for the industry as

Fannie Mae Survey: Better Financial Outlooks Could Improve Housing Market

A new survey conducted by Fannie Mae revealed that the number of Americans who believe it’s a good time to buy a home and the number of Americans who believe it’s a good time to sell a home are evening

State with Lowest Mortgage Interest Rate: Rhode Island

Rhode Island homebuyers are the luckiest in the nation when it comes to mortgage interest rates. Anyone looking to buy a house in the nation’s smallest state can an expect an interest rate of about 3.4 percent, which is .35

Three Men Charged in $18.5M Mortgage Fraud Scheme

Two men from California and one from New York were charged in connection with an alleged $18.5 million mortgage modification fraud scheme. U.S. officials believe this may be the largest charge of its kind. The three men allegedly falsely led

Clintons Renting Hamptons Home for $100K

Bill and Hillary Clinton are renting a home in the Hamptons for three weeks this summer for $100,000. The home is located in Amagansett and is owned by private art collector Andre Nasser and his wife Lois. This year’s rental

Wells Fargo Loosens Standards for Jumbo Mortgages

Reuters reports that Wells Fargo, the largest U.S. mortgage lender, has eased up on its requirements on some high-end mortgages. The new lax rules affect only the fixed-rate “jumbo” mortgages that Wells Fargo acquires from other banks. In

Homeowners Staying Put This Summer

Although the number of houses for sale was expected to surge this summer, the prediction has not materialized. As a result, the current supply of homes is low and their selling prices are high. According to a report released by

Austin Voted Best City for Millennial Homebuyers

Austin, Texas, was voted the top U.S. city for millennial homebuyers by CNN. Austin is home to the South by Southwest (SXSW) festival and boasts a median home price of $226,000. The city’s 4.2 percent job growth ensures lots of

Many Young Adults Living at Home

Since the start of the housing crisis, more and more young adults continue to live at home with their parents, citing financial reasons. Between 1990 and 2006, the number of young adults living at home averaged 27 percent. In 2013,

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