Total existing-home sales -- including condominiums and co-operatives -- set the second-highest pace on record in the fourth quarter, rising in 40 states and the District of Columbia from the levels recorded a year earlier, according to the National Association of Realtors.The seasonally adjusted annual resales rate was 7.76 million units in the fourth quarter, up 7.3% from 7.24 million in the fourth quarter of 2003. (The record high of 7.80 million units was set in the second quarter of 2004, the NAR reported.) The biggest year-over-year gains were recorded in Arizona, where the resale rate was up 28.8%; North Carolina, up 25.4%; and Georgia, up 21.7%. The NAR can be found online at http://realtor.org.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27