New single-family home sales jumped 9.48% in August as lower mortgage rates brought more homebuyers into the market.The U.S. Census Bureau reported that new-home sales rose to a seasonally adjusted annual rate of 1.18 million in August from 1.08 million in July. Michael Carliner, an economist at the National Association of Home Builders, said lower mortgage rates had some impact, but he noted that new-home sales have been above 1.1 million since the third quarter of 2003. Sales are currently 10% ahead of last year's record pace. "It is almost certain" that this will be a record year, 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.
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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.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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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.
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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.
4h ago