HUD Wants to Get Rid of Rental ‘Junk Fees’

FHA Approves 40-Year Loan Modifications By Kerry Smith If homeowners with an FHA loan default, they may still be able to keep the house through a mortgage modification, which now includes a 40-year option. WASHINGTON – The Federal Housing Administration (FHA) published a final rule in the Federal Register, Increased Forty-Year Term for Loan Modifications,

Mortgage Rates Drop Below 5%

AUGUST 4, 2022 At 4.99% it’s not far below, but it’s the first time in four months the 30-year, fixed-rate mortgage averaged below the psychologically significant 5% mark. WASHINGTON (AP) – The average long-term U.S. mortgage rate fell below 5% for the first time in four months, days after the Federal Reserve jacked up its

Pending Home Sales Edge 0.7% Higher in May

By Kerry Smith NAR says May’s increase in pending home sales ended a six-month skid of declines, but despite the gain, “the housing market is clearly undergoing a transition.” WASHINGTON – Pending home sales crept higher in May, ending a six-month streak of declines, according to the National Association of Realtors® (NAR). Regionally, month-over-month results