Single-family housing starts jumped 4.8% in November as the pace of construction once again hit a record level set earlier this year.The U.S. Census Bureau reported that single-family starts rebounded to a record seasonally adjusted annual rate of 1.81 million in November from a 1.73 million rate in October. Single-family starts hit 1.81 million in March for the first time ever. The November report shows that the housing market has a lot of momentum, according to a National Association of Home Builders economist, and 2005 will easily beat last year's record for single-family starts by about 7%. While single-family starts and new-home sales are expected to decline by 6%-7% next year, NAHB economist Michael Carliner said purchase mortgage originations on new homes in 2006 should exceed 2005 originations. Looking at all the houses under construction and in the pipeline, mortgage originations "will almost certainly be higher next year," Mr. Carliner said.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25