Posts Tagged ‘Department of Commerce’

Bankrate Survey Shows Real Estate is Most Popular Place to Invest

July 25th, 2016

Today’s News Synopsis: Home remodeling projects are expected to reach $321 billion by next year, putting its growth at 8% and numbers not seen since before the crash.  A new report was released by the government recently that outlined what the Treasury, HUD, and FHFA have achieved as well as

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HUD Secretary Julián Castro Discusses Important Part Millennials Play in Housing Market

October 27th, 2015

  Today’s News Synopsis:   Census Bureau and Department of Commerce reported an increase in homeownership rates for the first time since 2013.  HUD Secretary Julián Castro met with Chief Economist Jonathan Smoke of to discuss the important part millennials play in the housing market.  Over $735,000 was donated to needy

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Consumer Confidence Increased as Housing and Labor Market Show Signs of Growth

October 1st, 2015

  Today’s News Synopsis:   As the housing and labor market continue to show signs of growth, consumer confidence also took a turn for a better in also showing signs of increase.  Spending on residential construction also increased in August and stood at $1,086.2 billion.  Freddie Mac reported mortgage rates continue to

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Mid-Tier Homes are Housing Recovery’s Achilles Heal

August 3rd, 2015

  Today’s News Synopsis:   According to both the U.S. Census Bureau and the Department of Commerce, spending on construction increased 0.1% in June.  At the same time, the number of borrowers considered underwater is showing signs of decrease at at faster rate than usual.  The latest report from Clear Capital showed

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Areas Hit Hardest By Crisis Were Positively Effected By Freddie Mac’s Take Root Program

July 28th, 2015

  Today’s News Synopsis:   The homeonwership rate decreased in the second quarter to its lowest in almost 50 years at 63.4%.  The program established by Freddie Mac after the housing crisis called the Take Root Program has proven very useful in areas hit hardest by the crisis.  The House Committee is

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Regulator Test Failed by Several Big Banks

July 1st, 2015

  Today’s News Synopsis:   According to Fannie Mae’s latest Housing Insight Report, the homes more millennials prefer are single-family.  Spending on construction increased 0.8% in May, although spending on residential properties was below expectations.  Several big banks, including Wells Fargo, JPMorgan Chase U.S. Bancorp, failed on their regulator satisfactory tests.   In The

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Household debt continues to increases despite delinquency rates showing signs of improvement

June 1st, 2015

    Today’s News Synopsis:   Household debt continues to increases despite delinquency rates showing signs of improvement.  Spending on construction increased 2.2% in April according to the U.S. Census Bureau of the Department of Commerce.  Richard Green is the new senior advisor for HUD’s housing finance.   In The News: Bloomberg – “Fed’s Fischer Says Real

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Mortgage Debt Being Handled More Efficiently Due to Decrease in Delinquencies and Write-Offs

May 20th, 2015

    Today’s News Synopsis:   The Mortgage Bankers Association reported a 1.5% decrease in mortgage applications from last week.  Mortgage debt is being handled better due to the decrease in delinquencies and write-offs.  Changes to the TILA-RESPA rule could lead to increased risk for mortgage-backed securities according to Moody’s Investors Service.  The

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Mortgage Servicing Rules for the GSEs Undergoing Revisions by the FHFA

March 2nd, 2015

  Today’s News Synopsis: Sales of pending homes increased 1.7% in January to 104.2, putting them at their highest in a year and a half.  Spending on construction was slower at $971.4 billion, down 1.1% from $982 billion.  Rules and regulations regarding mortgage servicing for Fannie Mae and Freddie Mac are

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Over 5 Million Potential Households Lost as More Millennials are Living at Home

November 3rd, 2014

Copyright: Image from   Today’s News Synopsis: Spending on construction is down for the second month in a row, having decreased by 0.4% in September.  First-time home purchases also decreased to 33% from 38%, its lowest level in almost 30 years.  In a case of “doubling up,” over 5 million households have been

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