Hub News

Report: One Third of Americans Don’t Know Their Mortgage Rate

According to a new report by CNBC, more than a third of Americans don’t know their mortgage interest rates. Reporter Diana Olick says Monday morning’s finding is not surprising, however, considering that – during the housing boom – many people

Mortgage Serious Delinquency Rate Declines in December

Freddie Mac reported on Friday that the Single-Family serious delinquency rate dropped in December to 1.88% from 1.91% the month before. A seriously delinquent mortgage is one that is “three monthly payments or more past due or in foreclosure.” Bill

Report: Majority of Consumers Have Subprime Credit Scores

The Corporation for Enterprise Development released a new report on Thursday, which revealed that many Americans are still struggling to improve their credit, despite a growing job market and overall better economy. “In the world of consumer credit scoring, if

Pending Home Sales Closed Out 2014 with Largest Drop of the Year

According to Mortgage News Daily, the National Association of Relators revealed on Thursday that the rate at which contracts were signed to purchase homes in December was down 3.7 percent from November. It was also the largest drop since December

Rural America Suffering Silent Housing Crisis

As The Atlantic points out in a new report published on Wednesday, it’s not just the big cities – like New York, Los Angeles and San Francisco – where affordable housing for low-income families is difficult to come by. In

Millennials Seeking Smaller Homes, Greater Details

The National Association of Home Builders revealed on Monday that there are several characteristics in a home that will become more and more sought-after as millennials begin to enter the housing market. For one, desired home will get a little

Number of First-Time Homebuyers Remains at Historic Low

The National Association of Realtors confirmed on Friday that, for the second straight year, first-time homebuyers made up just 29 percent of previously-owned home sales in 2014. That number remains the lowest since data was first collected in 2008. And,

Wells Fargo, JP Morgan Fined Over ‘Illegal Mortgage Kickbacks’

The Consumer Financial Protection Bureau announced on Thursday that it and the Maryland Attorney General’s Office have ordered Wells Fargo and JP Morgan Chase to collectively pay $35.7 million to settle charges that they once participated in an illegal marketing

Report: Millennials Prefer Suburbs Over City Living

A new survey released on Wednesday by the National Association of Realtors finally put to rest the debate over whether millennials are likely to remain city dwellers or eventually move out into the suburbs. According to the findings, 66 percent

How Do Oil Prices Affect the Housing Market? Experts Differ

How to oil prices affect the housing market? It depends who you ask. One economist – Freddie Mac’s Frank Nothaft – had quite a positive outlook. “It has the same impact on consumer spending as a tax cut would,” he

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