Articles from May 2016



HUD and Census Bureau Report New Residential Sales in April

WASHINGTON – Sales of new single-family houses in April 2016 were at a seasonally adjusted annual rate of 619,000, according to estimates released jointly today by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau…. HUD Press Releases

HUD Announces Agreements with Minneapolis and St. Paul to Further Housing Choice and Opportunities for Twin Cities Residents

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced agreements with the City of Minneapolis and the City of St. Paul to further housing choice and neighborhood opportunities in the two cities and the surrounding region. … HUD Press Releases

Mortgage Rates Lowest in More Than a Week

Mortgage rates moved modestly lower today. Given that rates had spiked last Wednesday and haven’t moved too much since then, today’s improvement was enough to get rates to the best levels seen since last Tuesday. That might sound odd or ironic in light of today’s widely-circulated mortgage rate data from Freddie Mac. Freddie says that […]

Mortgage Rates Calm Ahead of Long Weekend

Mortgage rates were sideways to slightly lower today, depending on the lender. Financial markets closed early for Memorial Day weekend, and will be fully closed on Monday. As such, lenders won’t be updating rate sheets again until Tuesday. Today’s rate sheets aren’t too terribly different from yesterday’s. Most lenders are unchanged and a few are […]

Are Appraisal Changes Putting FHA Loans at a Disadvantage?

When Perry "Pat" Turner Jr. visits a house to do an appraisal, he usually just brings a camera, a note pad and a measuring device. But lately, the …… Google Alert – FHA Loans

Mortgage Rates Higher in Some Cases

Mortgage rates were mixed today, depending on the lender. Some lenders adjusted rates higher in the middle of the day to reflect bond market weakness while others maintained the same rate sheets all day long. The lenders in that second group are more likely to move higher with tomorrow morning’s first rate sheets, all other […]

Mortgage Rates Remain Under Pressure, Near Recent Highs

Mortgage rates didn’t move much today, depending on the lender. Most of the movement seen was toward slightly higher levels. The bond markets that underly mortgage rates remain under pressure after last week’s Fed Minutes showed widespread support for a Fed rate hike in June or July. Since then, several Fed speakers have echoed the […]

HUD Charges Utah Management Company and Landlords with Discriminating Against People with Disabilities

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced today that it charged a group of Utah property owners and their property manager with violating the Fair Housing Act by refusing to allow a single mother and her son, who has disabilities, to keep an assistance animal and by using burdensome policies […]

Mortgage Rates Continue Sideways for 3rd Straight Day

Mortgage rates were relatively steady again , marking the third straight business day with almost no rate movement following last week’s quick spike higher. That spike was all about financial markets quickly coming to terms with a higher probability of a Fed rate hike. Given that there hasn’t been any movement since then, we can […]

Mortgage Rates Recover Somewhat, But Not Out of Woods

Mortgage rates bounced back today, to some extent, after rising at the fastest pace in more than 3 months yesterday. Most of yesterday’s damage remains, however, and most lenders are still quoting conventional 30yr fixed rates that are an eighth of a point (.125%) higher than those seen on Tuesday. This flies completely in the […]