The housing sector is largely responsible for the slowdown in U.S. economic growth since the spring, but the worst may be over for housing, according to Federal Reserve Board Governor Susan Bies."While much of the downshift in the housing market appears to have occurred already, some further contraction may yet lie ahead," Gov. Bies told students at Drake University in Des Moines, Iowa. However, favorable mortgage rates, income growth, and recent stock market gains "should help to limit any remaining contraction in housing demand," she said. The Fed governor also noted that consumer confidence remains above average and the rest of economy appears to be fine. "This contrasts with previous slowdowns in the housing market, which have typically coincided with widespread economic weakness," she said.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
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The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
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