Single-family housing starts jumped 5.7% in October to a new monthly record, and housing economists are wondering whether a 26-year-old annual record is about to fall.The Census Bureau reported that single-family starts increased from a seasonally adjusted annual rate of 1.53 million in September to 1.62 million in October. The annual record for single-family starts -- 1.45 million units -- was set in 1977. Last year, single-family starts totaled 1.36 million units. "Whether we are going to beat the 1977 total still depends on what happens the next couple of months," said Michael Carliner, an economist with the National Association of Home Builders. "But I think single-family starts will probably set a record. And we are fairly sure that single-family new-home sales and existing-home sales will set records." In 1997, there was a lot of overbuilding and building on speculation without a buyer lined up. "Today, there is very little spec building," Mr. Carliner said.
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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 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25