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Like a rising tide, rising prices are pushing a lot of other financial elements higher. Earlier this week surging home prices drove a near $100K increase in conforming loan limits, now regulators have raised the dollar threshold for an exemption to the Truth in Lending Act (TILA) based on rising wages. Section 129H of TILA establishes special appraisal requirements for "higher-risk mortgages," termed "higher-priced mortgage loans" or "HPMLs" in the agencies' regulations. The Consumer Financial Protection Bureau (CFPB), the Federal Reserve Board, and the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Federal Housing Finance Agency (FHFA) jointly issued final rules implementing these requirements
Like a rising tide, rising prices are pushing a lot of other financial elements higher. Earlier this week surging home prices drove a near $100K increase in conforming loan limits, now regulators have raised the dollar threshold for an exemption to t... (read more)
National spending on construction spending rose slightly in October, but for the second month in a row, the increase wasn't driven by the residential sector. The U.S. Census Bureau reported that construction put in place during the month was at a sea... (read more)
Huh? Someone told me that “reality” shows are all scripted out ahead of time and there’s a standard recipe! What the heck?! There are some things where recipes are expected, like making food. Popular Mechanics takes us inside the la... (read more)
Several developments are converging on the global economy and financial markets at the moment. Each brings its own causes for concern. Together, they bring a significant increase in volatility. Should we be worried about Omicron? Answering such questions is beyond the scope of this newsletter. What we can say is that the financial market is clearly asking it... (read more)
Big Reversal in Bonds After Stocks Sell Off
Bonds paradoxically sold off after this morning's weaker jobs number. We could talk about why that might have happened or simply focus on what happened next: a big sell-off in stocks that quickly pushed bonds past key stop-loss levels. After that, it was game ov... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.