Personal Credit Coach


Stephen Leifer - Monday, August 19, 2019
By Prashant Gopal (https://www.bloomberg.com/authors/APy9hargB6M/prashant-gopal) , Reade Pickert (https://www.bloomberg.com/authors/ATR8A0XQZX8/reade-pickert) , and Noah Buhayar (https://www.bloomberg.com/authors/AP-42TeKCWg/noah-buhayar) Low mortgage rates and thriving employment should be the recipe for a strong housing market. Instead, they’re deepening America’s affordability crisis. What began on the coasts, in areas like New York ..

More people were buying new homes in July

Stephen Leifer - Monday, August 19, 2019
by Steve Randall There was an increase in mortgage applications for new home purchases in July. Applications jumped 11% month-over-month and 31.2% year-over-year (not seasonally adjusted) according to the Mortgage Bankers Association’s Builder Application Survey. The survey is based on data from mortgage subsidiaries of home builders across the country. "July's strong new home sales increase on a monthly and annual basis was driven by the ongoing decline in mort ..


Stephen Leifer - Friday, August 16, 2019
by Mike Albanese The acceleration of the decline of cash buyers continued in June, as a new report in USA Today reveals that just 16% of home buyers paid in cash. The report, which sources information from the National Association of Realtors (NAR) (https://www.nar.realtor/about-nar), states that the shifts can be traced to less competitive and buyers-friendly markets, and falling mortgage rates. The NAR states that existing home sales fell 4.2% in the first half of the  ..


Stephen Leifer - Friday, August 16, 2019
by Mike Albanese A new report issued by WalletHub (https://wallethub.com/edu/fed-rate-cut-survey/63826/)found that there is a 78% chance the Fed drop interest rates on July 31, and that mortgage rates will fall if they do. According to WalletHub, there is a 78% chance interest rates could drop 25 basis points, and a 21.4% chance they would drop 50 basis points, and 72% of those surveyed would be in favor of cut to interest rates. Also, 48% of respondents sai ..


Stephen Leifer - Thursday, August 15, 2019
by Mike Albanese (https://themreport.com/author/5starhhd) A survey by Freedom Debt Relief (https://www.freedomdebtrelief.com/newsroom/survey-americans-regrets-about-home-ownership/) found that more than a quarter of homeowners surveyed feel the cost of owning a home is a burden, with many saying they should have saved more money. Freedom Debt Relief surveyed 1,028 homeowners that have at least $10,000 in unsecured debt. Of those surveyed, 26% said the cost of owning a home ..


Stephen Leifer - Thursday, August 15, 2019
by Seth Welborn In an effort to combat foreclosures for borrowers with Federal Housing Administration (FHA) mortgages, Congresswoman Maxine Waters recently introduced the The FHA Foreclosure Prevention Act of 2019. The Act intends to strengthen requirements for and increase oversight of FHA mortgage servicers “so that every homebuyer with an FHA mortgage is given a fair chance at avoiding foreclosure.” “The Federal Housing Administration is critical to our h ..


Stephen Leifer - Wednesday, August 14, 2019
by Seth Welborn Senator Cindy Hyde-Smith is proposing an update to the National Flood Insurance Program (NFIP). Hyde-Smith’s proposal aims to address the multiple extensions the NFIP has undergone with a long-term extension plan. Hyde-Smith is a lead cosponsor of the National Flood Insurance Program Reauthorization and Reform Act or NFIP-RE Act “We’re trying to flip the script on mitigation projects, from being reactionary to being proactive. This is the fi ..


Stephen Leifer - Wednesday, August 14, 2019
By Jacob Passy (https://www.realtor.com/author/jpassy) The Consumer Financial Protection Bureau is set to eliminate a regulatory loophole that made getting a mortgage more feasible for thousands of Americans. The consumer watchdog agency announced this month that it will allow a temporary provision commonly known as the “qualified mortgage patch” to expire in January 2021 as originally planned or shortly thereafter. The CFPB has also started fielding comments f ..

The Widening Racial Homeownership Gap

Stephen Leifer - Monday, August 12, 2019
by Seth Welborn (https://themreport.com/author/seth-welborn) Data from the U.S. Census Bureau indicates that black homeownership has fallen to 40.6% as of Q2 2019. Bloomberg (https://www.bloomberg.com/news/articles/2019-07-25/black-homeownership-falls-to-record-low-as-affordability-worsens)reports that this is the lowest rate since around 1970, and rates for all other minority groups were down as well. According to Bloomberg, the gap between white and black and white homeown ..

Is a Recession on the Way?

Stephen Leifer - Monday, August 12, 2019
by Seth Welborn (https://dsnews.com/author/seth-welborn) According to experts, the next recession is on its way, and could begin next year. According to the Zillow Home Price Expectations Survey (https://c212.net/c/link/?t=0&l=en&o=2534373-1&h=3960358043&u=https%3A%2F%2Fwww.zillow.com%2Fresearch%2Fwhen-is-the-next-recession-2020-24389%2F&a=Zillow%C2%AE+Home+Price+Expectations+Survey), conducted quarterly by Pulsenomics, a panel of more than 100 real estate eco ..