Housing: Lenders recoil from jumbo mortgages that back pricier homes

aol.com Lenders are losing their appetite for originating mortgages on pricier homes. The spread between rates for jumbo mortgages, which are too big for government backing, and…

U.S. Housing Is A Dead Man Walking (Update 2023)

seekingalpha.com If you appreciate this article please like, comment, and share. Thank you. Last year we wrote an article on housing titled U.S. Housing Is A Dead Man Walking. In it, our…

What Are the Biggest Bank Failures in U.S. History?

thestreet.com Two out of the three biggest bank failures in U.S. history happened in 2023. FDIC Bank failures aren’t as uncommon as you might think. 564 banks have collapsed since 2001,…

How can community banks compete with industry giants for deposits? Here’s what to know

marketwatch.com If you want to understand how community banking works in the U.S., it is important to know something about the Federal Home Loan Bank system. The FHLBs have gotten more…

Hagerty retires from WSJ after 45 years

talkingbiznews.com Hagerty, who joined The Wall Street Journal in 1978, has retired from the newspaper. He most recently was based in Pittsburgh and wrote obituaries and other feature stories.…

The Money Doctor who has slayed inflation for 50 years says the Fed has overcorrected so badly it’s hastening the long-feared recession

fortune.com Economist Steve Hanke has forged a 50-year career as a global “money doctor,” advising heads of state and finance ministers from Indonesia to Kazakhstan. He’s currently…

The financial system is slipping into state control

economist.com T a centuries-old and fathoms-deep relationship between finance and the state. The great banking houses, such as the Medicis of Florence, were lenders of last resort to…

Commercial and multifamily mortgage delinquencies rose in the first part of 2023

edition.cnn.com Commercial and multifamily mortgage delinquencies increased in the first quarter of 2023, according to a new report from the Mortgage Bankers Association. “Ongoing stress…

Fannie Mae’s Mission Creep

forbes.com Just fifteen years after the bailout of Fannie Mae and Freddie Mac cost American taxpayers $187 billion, the government-sponsored enterprises (GSEs) are intent upon…

Elon Musk says home prices will tumble ‘next’

fortune.com There’s no doubt about it: Things aren’t looking so great for commercial real estate, especially for office space. Look no further than a revised forecast issued earlier…

Elon Musk's Prediction on Home Prices Prompts Rebuttal From Redfin CEO

businessinsider.com Elon Musk said this week that home prices will tumble soon, following those of commercial real estate. • Redfin's CEO responded, saying the loss of demand for commercial…

Federal Government Seeks Input Into Tenant Protections

forbes.com The Biden administration announced its interest in creating a renter bill of rights. The Federal Housing Finance Agency (FHFA) just announced a request for input on tenant…

Wells Fargo is undergoing a major transformation under CEO Charlie Scharf. Here are the business lines that are most affected

businessinsider.com Charlie Scharf, CEO of Wells Fargo Wells Fargo; Tom Williams/CQ-Roll Call, Inc via Getty Images; Samantha Lee/Insider Wells has been revamping its wealth business and…

House prices are declining in these 7 Western states while continuing to hit new heights across the rest of the country

yahoo.com None US house prices rose modestly in the first quarter, said the FHFA on Tuesday. • None But some Western states are seeing the first year-over-year price declines in…

House prices are declining in these 7 states but hitting highs elsewhere

businessinsider.com US house prices rose modestly in the first quarter, said the FHFA on Tuesday. • But some Western states are seeing the first year-over-year price declines in years. • The…

The Money Doctor who has slayed inflation for 50 years says the Fed has overcorrected so badly they’re hastening the long-feared recession

yahoo.com Economist Steve Hanke has forged a 50-year career as a global “Money Doctor” advising heads of state and finance ministers from Indonesia to Kazakhstan. He's currently…

What Is a Bank Failure? What Causes It?

thestreet.com Even if your bank becomes insolvent, your deposits may be safe. Funtap from Getty Images; Canva You hear your bank is in trouble, and you immediately start to panic. “Will I…

What will an ADU do to your property taxes and resale value?

latimes.com A house in South Pasadena stands next to its garage, which has been converted into a 500-square-foot ADU for the homeowner’s mother. A common pitch for accessory dwelling…

Mortgage rates rise as debt limit impasse lingers: Freddie Mac

foxbusiness.com Mortgage rates trended higher for the second week in a row as the market reacted to new economic growth estimates and the debt ceiling impasse, according to Freddie Mac. The…

US mortgage giants were placed on credit watch. Here’s what that means for home buyers

cnn.com The credit ratings of US mortgage giants Freddie Mac and Fannie Mae were put on watch for possible downgrade by Fitch Ratings late Thursday. A downgrade is not expected to…

What Is the U.S. Debt Ceiling? Deadline, Limit, Default Explained

entrepreneur.com The U.S. hit its debt ceiling limit of $31.4 trillion in January. Here's everything to know about the ongoing debt ceiling debate. It's crunch time. President Joe Biden and…

Another US downgrade might not be as bad as it sounds

aol.com On August 8, 2011, the first trading day after Standard & Poor’s downgraded the US credit rating for the first time ever, the S&P 500 stock index plunged by 6.5%. There was…

‘A modest recession will begin in the second half of 2023’: Fannie Mae

marketwatch.com The U.S. economy will enter into a “modest recession” in the back half of 2023, Fannie Mae FNMA forecasts. “We maintain our view that a modest recession will begin in the…

Joe Biden's plan to raise costs for homebuyers receives surprising support

newsweek.com The Biden administration's idea to increase mortgage fees for people with good credit scores in order to help those with poorer credit scores can count on a surprising level…