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...And the National Association of Home Builders reported today that homebuilder confidence made a surprise rebound this month....
...In the US, according to numbers from the Federal Trade Commission, there were nearly 26,000 reported cases of abuse of advance-fee loans last year, costing victims nearly $75mn....
...Existing home sales, which make up most of the US housing market, totalled just 4.09mn units in 2023, a 30-year low. Yet, median home prices hit a record high of $389,800....
...Trump appointed Mark Calabria as the head of the Federal Housing Finance Agency [the Fannie and Freddie umbrella organisation]....
...Last week the US Federal Housing Finance Agency presented its report on the future of the Federal Home Loan Banks....
...Long-term mortgages: Rising mortgage rates have been a big contributor to the UK’s cost of living crisis. Can long-term mortgages, a norm in the US, help solve the country’s housing crunch?...
...As mortgage rates hover around 6 per cent, nearly 70 per cent of Manhattan homes purchased in the final quarter of 2023 were bought without a mortgage, according to Pamela Liebman, the chief executive of...
...Unlike US home loans, commercial mortgages are almost entirely interest- only....
...In January, the annualised rate of second-hand home sales hit 4mn, 38 per cent lower than in January 2022, according to the National Association of Realtors....
...But the FHLB overseer (the Federal Housing Finance Agency) and bank regulators should act quickly to implement what is feasible even without legislation....
...Fannie, and its sister mortgage agency, Freddie Mac, had issued CLN-type bonds on about $1.7tn of mortgages....
...Corporation, the Federal Housing Finance Agency and more....
...The income needed to buy the average-priced starter home of $346,000, with a 10 per cent deposit, has more than doubled since 2020, to a little over $103,000, according to the National Association of Realtors...
...David Stevens, a former head of the Mortgage Bankers Association and a Federal Housing Administration commissioner in the Obama administration, worked directly with ICE officials as a board member of MERS...
...They say the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency have exceeded their remit and could diminish the competitiveness of US banks by unilaterally...
...The vast majority of this agency debt consists of discount notes issued by the Federal Home Loan Bank system, a US-government backed group of institutions that purchase mortgages issued by local banks....
...When borrowers were short of a downpayment and were keen to cut the cost of mortgage insurance, they sometimes took out, say, a 90 per cent mortgage and borrowed the rest via a home-equity loan....
...But loan volumes dropped to $11.4bn last year as the Federal Reserve aggressively lifted rates to fight inflation, damping demand from would-be homebuyers and owners seeking to refinance....
...home mortgages, and the Home Owners’ Loan Corporation to refinance them....
...corporation tax....
...In 1970, the US Government National Mortgage Association (known as Ginnie Mae) engineered the first “passthrough” mortgage-backed securities, where the underlying individual loan payments flowed directly...
...Roughly 32 per cent of total CRE debt is repackaged into commercial mortgage-backed securities (CMBS) held by federal agencies and mortgage pools....
...And finally, daily bond issuance by Federal Home Loan Banks can be a helpful gauge of how much banks are relying on government funding....
...On the liability side of the balance sheet we’ve got real wages, energy and gas costs, housing costs for people that don’t currently own homes and what the market’s done....
...Existing home sales in July fell 5.9 per cent compared with the previous month and 20 per cent from a year ago, according to the National Association of Realtors....
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