Heading into the 2025 housing market, we haven’t had this many homeowners with mortgage rates over 6% since 2016. According to the latest FHFA data, as of Q3 2024, 17.2% of outstanding mortgages, around 8.7 million borrowers, carry a mortgage with an interest rate over 6%. In the last decade, as more and more homebuyers…
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As wildfires tear through Southern California and firefighters battle winds up to 100 mph, tens of thousands of residents have evacuated. The looming impacts on real estate and insurance are also at the forefront of Californians’ minds. According to Anthony Marrone, the fire chief for Los Angeles County, the wildfires have torched more than 1,000…
Higher-for-longer mortgage rates have claimed their first victim of 2025. Ally Financial announced Wednesday that it would exit the mortgage origination business as part of a broader strategy to pursue higher returns on investments. The company also plans to explore strategic alternatives for its credit card business in the first quarter of 2025. These changes…
A coalition of attorneys general from 15 states and the National Association of Home Builders (NAHB) have filed a lawsuit against the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA) over energy-efficiency standards for newly constructed homes that were finalized in April 2024. The standards were said to…