The Bank of Canada has lowered its target for the overnight lending rate 50 basis points, while the Reserve Bank of Australia has raised its cash rate by 25 bps. The Canadian central bank said developments indicate that the U.S. housing and liquidity crisis is "in some respects, intensifying," while Australia's central bank reported that pressures in short-term money markets "have eased." The Reserve Bank of Australia also said inflationary pressures in the country's economy outweigh the downside risks even though "international capital and equity markets remain fragile" and there has been "some tightening of lending standards to risky borrowers" that may still "have further to go."
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
1h ago -
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