Articles from October 2016

FHA to Lower Owner-Occupancy Requirement for Certain Condominium Developments

WASHINGTON – The Federal Housing Administration (FHA) today announced that, under certain circumstances, it will lower its required owner-occupancy standard for approved condominium developments effective immediately…. HUD Press Releases

HUD Charges Ohio Housing Authority with Discriminating Against Family with Disabilities

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced today that it is charging the Trumbull Metropolitan Housing Authority in Warren, Ohio with violating the Fair Housing Act by denying the reasonable accommodation requests of a family that includes a father and daughter with severe disabilities…. HUD Press Releases

Rates Recover Nominally, but Remain Near 5-Month Highs

Mortgage Rates recovered slightly today, after hitting the highest levels in nearly 5 months yesterday. Unfortunately, that leaves today’s rates with the dubious distinction of “2nd highest in nearly 5 months.” It continues to be the case that lenders won’t be eager to offer major improvements on rate sheets, even if underlying bond markets improve. […]

HUD Announces Agreement with City of Flagstaff and Housing Authority to Resolve Discrimination Claims

WASHINGTON – The U.S. Department of Housing and Urban Development announced today an agreement with the City of Flagstaff, Arizona, and the Flagstaff Housing Authority resolving allegations that they denied the reasonable accommodation requests of a resident with disabilities…. HUD Press Releases

Mortgage Rates Spike to 5-Month High

Mortgage Rates are much higher today, regardless of anything else you may have seen. Why am I alluding to other things you may have seen? Because it’s Thursday–the day that Freddie Mac publishes its weekly mortgage rate survey, which is subsequently used as source material for most major media outlets. A barrage of similar headlines […]

Mortgage Rates Stuck at Highs For Now

Mortgage Rates were unchanged in many cases today, with a handful of lenders inconsequentially better or worse versus yesterday’s latest offerings. Despite moving lower on 4 out of the past 6 days, rates were never able to put meaningful distance between themselves and the highest levels in more than 4 months. The slow progress was […]

Mortgage Rates (And Uncertainty) Remain High

Mortgage Rates didn’t move much today, with most lenders just slightly higher than yesterday. This keeps us right in line with the highest levels in more than 4 months. For the sake of perspective, outside the past 4 months, rates have hardly ever been as LOW as they are today. The average lender is quoting […]

HUD Releases 3-Year Study of Strategies to End Family Homelessness

WASHINGTON – When a family with children seeks emergency shelter, there are a number of interventions to address their homelessness. Today, the U.S. Department of Housing and Urban Development (HUD) released the results of an exhaustive study to identify the most efficient and cost-effective ways to house and serve these families…. HUD Press Releases

Mortgage Rates Unable to Keep Winning Streak Alive

Mortgage Rates bounced slightly higher for the first time in more than a week today, thus remaining in limbo near the highest levels in more than 4 months. On a positive note, recent movements have been small, with no change to the prevailing note rates of 3.5-3.625% on top tier conventional 30yr fixed scenarios. That […]

Mortgage Rates Flat Ahead of Potential Volatility

Mortgage Rates were steady to slightly lower today, which keeps them fairly close to 4-month highs. 3.625% continues to be the most prevalently-quoted conventional 30yr fixed rate for top tier scenarios, but some of the more aggressive lenders are still at 3.5%. After rising sharply in the first half of the month, rates have leveled-off […]