Speaking at a Federal Reserve Bank of Chicago annual meeting, Fed Chairman Ben Bernanke said it "seems pretty clear" that housing markets are cooling.But, as reported by The Wall Street Journal, Mr. Bernanke responded to a question saying that the housing slowdown is "orderly and moderate" at the time being. In his prepared speech, Mr. Bernanke also addressed new mortgage products, saying that innovation in housing finance has led to "more sophisticated and flexible instruments, more liquid markets, and better risk-sharing." While the net benefits have been positive, Mr. Bernanke said "rapid financial innovation carries some risks," and he urged regulators to be ready to mitigate those risks.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18