Origination

Secretary Marcia Fudge’s statement has implications for other tribal nations in Oklahoma and may be watched closely by other government officials, housing and civil rights advocacy groups.

Average incomes for this age group increased by 24% since 2012, but housing prices jumped 86%.

No city exemplifies the mania of the COVID-era U.S. housing market better than Boise, Idaho, where prices have surged by more than 30% in the past year. But in a sudden reversal, buyers are now the ones with power.

The Series B investment round for the power buyer comes at a time when all-cash purchases account for almost a quarter of the market.

Trustmark Bank agreed to pay $9 million to resolve allegations that it discriminated against Black and Hispanic residents in Memphis, Tennessee. Attorney General Merrick Garland said the Department of Justice and other agencies will continue their crackdown.

Seasonal patterns are also playing a part in the slowdown in buyer demand, the company said.

The industry is prioritizing Black and Hispanic consumers in the interest of social equity and to tap new markets amid declining refinance volume and rising rates.

Several housing groups wrote a letter calling for “substantially improved written proposals” for the period starting in 2022, and support for chattel manufactured-home loans.

The median selling price of an existing house rose 13.3% in September from a year ago, the smallest annual price increase since the end of 2020.

The 30-year average stayed above 3% for the second straight seven-day period, with improved retail sales data helping drive the uptick.