· Here’s what Fed interest rate hikes mean. Residential investment: The result is the same for investment in housing. When it’s more costly to borrow money to purchase a home, the demand for new housing falls, and fewer homes are built. Residential investment has been a key factor in recoveries from past recessions,
Florida homeowners can start claiming their $6.5M from SunTrust Homeowners who have a claim with People’s Trust should require a licensed insurance adjuster come to the property and should be very cautious before signing or agreeing to allow Rapid Response Team to start work.
· Federal Reserve hikes interest rates for third time this year. It’s the third rate hike this year, and part of a slow but steady strategy to ensure the economy does not overheat. For almost a decade after the financial crisis, the Fed held off introducing any rate hikes at all, making money easy to borrow while the economy got back on its feet.
The higher rates, soaring home prices and a tight inventory have kept potential buyers on the sidelines, hurting the sales of previously owned homes and undermining the recovery of the housing. Fed.
· The Fed could also cut rates in 2020 if an expected economic slowdown threatens to snowball. GDP growth should slow from 2.3% this year to.
· The Fed put interest rates at 0% in December 2008 to boost the collapsed housing market and bruised economy. But with the U.S. economy much improved now, it needs less of the Fed’s monetary medicine.
Private mortgage insurers see gains as FHFA PMIERS, g-fee changes sink in The private mortgage insurer eligibility requirements (PMIERs) establish the requirements that a private mortgage insurance company must meet to be an approved insurer and provide mortgage guaranty insurance on loans acquired by Fannie Mae.
Mortgage rates can indirectly affect home prices. “A slow and steady rise in mortgage rates alone, such as what we’re seeing now, won’t be enough to impact housing prices,” says Adam DeSanctis, national media manager at National Association of Realtors. Most people, especially in a strong economy where wages are on the rise, can absorb a few percentage points over time, DeSanctis says.
A majority of economists support the Fed’s choice of the interest rate as its monetary policy target, but some economists believe the Fed should concentrate on the money supply instead. Changes in the federal funds rate usually will result in changes in both short-term and long-term interest rates.
“In line with rate cuts in June and July, housing. while interest rates were very low – although that could soon change.
CFPB proposes HMDA rule changes Dart Appraisal partners with HouseCanary to launch new automated valuation report The case alleged amrock, a subsidiary of Gilbert’s Rock Holdings, hired HouseCanary to use its appraisal software and automated-home valuation models. phil korovesis, partner at Detroit-based law.The CFPB claims that these new changes will help ensure industry compliance with the much-discussed hmda rule. click the headline to read more about the proposed changes and judge for yourself.
When the unemployment rate is low, it is historically the role of the Fed to slow. hikes: Household debt looks different today than it has at any period on record, and it is not clear what risks.