22 August 2022
Prices for new and existing homes across the United States have been rising for the past couple of years. This increase has been fueled by several factors: historically low mortgage rates, a low existing home supply, and increased labor and materials costs. Is there relief in sight? Existing Homes vs. New Homes Existing homes are […]
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22 August 2022
Fort Myers, Florida – U.S. District Judge Thomas P. Barber has sentenced Nicole Sprague (38, Cape Coral), to two years and nine months in federal prison for conspiracy to commit mail fraud and mail fraud. As part of her sentence, the court also ordered restitution to the identified victims in the amount of $297,900, and […]
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19 August 2022
The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago. There’s no systemic meltdown coming this time around, because there hasn’t been the same level […]
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19 August 2022
Legal Action of Wisconsin received a $360,000 Pro Bono Innovation Fund grant to expand its Lawyer-For-A-Day program. The program, which already exists to defend low-income residents in eviction court, will now also be offered to low-income clients facing debt collectors and debt buyers in small claims court. The goal of the project, according to a statement, is […]
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19 August 2022
Samantha Hawkins had a clear vision for her first home: the 29-year-old from Austin, Texas, wanted a detached house surrounded by a yard for her dog, a garden and a stable space where she could put down roots. By January, when she bid $230,000 on a tiny, yardless condo converted from a rental studio, she had […]
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18 August 2022
The US affordable housing crisis has not spared the Land of Enchantment. Rents are skyrocketing in Albuquerque, New Mexico’s largest city, rising nearly 40% since March 2020, according to Apartment List. In nearby Santa Fe, the average two-bedroom apartment goes for $1,400, comparable to rents in larger and more exclusive metros. New Mexico’s eviction moratorium expired in […]
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18 August 2022
For the sixth straight month, existing home sales in the U.S. continue to slide. Sales in July fell by nearly 6% compared to the previous month, according to findings by the National Association of Realtors (NAR) on Thursday. The dip equates to about 4.81 million units, the NAR said, marking its slowest sales pace since November 2015 – with the exception of the drop seen at […]
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18 August 2022
Based on data compiled by Credible, three key mortgage refinance rates have risen and one remained unchanged since yesterday. 30-year fixed-rate refinance: 5.375%, up from 5.125%, +0.250 20-year fixed-rate refinance: 5.250%, up from 5.125%, +0.125 15-year fixed-rate refinance: 4.750%, up from 4.500%, +0.250 10-year fixed-rate refinance: 4.750%, unchanged Rates last updated on August 18, 2022. These rates are based on the […]
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18 August 2022
Damian Williams, the United States Attorney for the Southern District of New York, and Daniel B. Brubaker, Inspector-in-Charge of the United States Postal Inspection Service (“USPIS”), announced today that CARMEN MIRANDA, a/k/a “Millie Miranda,” was charged with wire fraud, bank fraud, and aggravated identity theft, in connection with her scheme to embezzle over $4 million […]
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16 August 2022
The legacy of the Covid-19 pandemic, a global lack of goods and materials, and Russia’s war in Ukraine have each combined to produce a cocktail of economic woes that is proving hard to swallow. Add to this underlying anxiety regarding the climate. Whether this conveyor belt of crises is unique to our age or is […]
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16 August 2022
Rising costs and falling confidence in the U.S. economy are fast becoming a toxic cocktail for the housing market. As a result, a growing number of buyers are backing out of deals they’ve made with homebuilders and sellers of existing homes. Homebuilder cancellation rates have more than doubled since April, according to surveys by John […]
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16 August 2022
There seems to be some cooling off in the housing market. But that doesn’t mean homes are becoming more affordable everywhere. According to RealtyHop’s housing affordability index, many cities in the U.S. are still difficult to afford. Out of the 100 cities in the index, the average American would have to dedicate at least 40% of their […]
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16 August 2022
Housing choice vouchers are supposed to give low-income tenants real choices about where to live and a chance to move to a better neighborhood. But few tenants with vouchers in metro Phoenix get that opportunity. Most of the housing that voucher holders find is concentrated in certain neighborhoods. More than 70% of voucher holders, or more than […]
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15 August 2022
When Santa Monica resident Rob Leonard got a notice telling him that rent for his one-bedroom apartment would go up $100 a month starting in September, he had to read the letter several times because he thought there was a mistake. “I was in shock,” he said. “Twelve hundred dollars a year — that’s people’s […]
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15 August 2022
Conforming loan limits rose to $647,200 for single-unit homes in 2022, representing an 18% increase—a historically high jump in year-over-year loan limits. Here is what you need to know about what that increase could mean to you—and a strong option available to you should you fail to qualify. What are the conforming loan limits for […]
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15 August 2022
Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs. The National Association of Home Builders/Wells Fargo Housing Market Index dropped 6 points to 49 this month, its eighth straight monthly decline. Anything above 50 is considered positive. The index has not been […]
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12 August 2022
Generally, money in the bank is safe—even in a recession or other tough economic times. However, depending on several factors, including your balance and the type of account, your money might not be completely protected. Fortunately, there are things you can do to increase the security of the money you have in the bank. To […]
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12 August 2022
(CNN)Despite rising mortgage rates that dampened sales, home prices continued to climb higher in the second quarter, with many more cities seeing double-digit price gains than in the first part of the year. The median single-family existing home price in the second quarter was $413,500 — the first time this quarterly price has ever risen […]
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12 August 2022
Over the last few years, historically low mortgage rates have enticed millions of Americans to purchase homes. But pandemic-era mortgage deals are over and rates have been stuck on a proverbial see-saw for weeks. The average US fixed rate for a 30-year mortgage came in at 5.22% this week, Freddie Mac reported in its weekly […]
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12 August 2022
New York (CNN Business)There appears to be some confusion about the trajectory of prices in the US. That’s partially because month-over-month inflation eased in July while year-over-year, it remained near historic highs. That raises an important question for consumers and investors alike: Is inflation peaking or not? The answer, according to the market analysts, is […]
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11 August 2022
CHAUTAUQUA — Pulitzer Prize-winning author Matthew Desmond contends that the United States is the richest democracy with the worst poverty. “That’s who we are as a nation. There’s no other advanced industrial society today that has the kind of level of poverty we have,” he said. Desmond spoke to an Amphitheater audience Tuesday as part of […]
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11 August 2022
WASHINGTON >> Average long-term U.S. mortgage rates soared this week in a continued volatile market as the key 30-year loan rate jumped back over 5%. Mortgage buyer Freddie Mac reports that the 30-year rate rose to 5.22% from 4.99% last week. By contrast, the rate stood at 2.87% a year ago. The average rate on […]
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