Why fewer people are looking for a new home

The new tax law caps the mortgage interest deduction at home values up to $750,000, down from $1 million, for homes bought after Dec. 15. It also limits the deduction for property and state and local income taxes at $10,000. The modified mortgage interest deduction may have pulled forward some
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One question concerned mortgage repayments, and whether you should shorten your term or simply overpay your mortgage. Martin explained that both have a similar benefit: “Overpaying and shortening your term do the same thing. “The shorter your mortgage time, the less interest accrues the cheaper
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Roger Knight, lending manager at Newbury Building Society, said: “We are delighted to join Legal & General Mortgage Club as we continue to develop our relationship with our already blossoming intermediary network. “We believe our flexibility and wealth of experience will help both members and
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It's another week and it's going to be a busy one. We've got numerous economic reports scheduled for release and a key testimony from the new chair of the Federal Reserve. The good news is that current mortgage rates are improving today. With so much happening over the next few days, it's hard to
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Michael R. Bloomberg, founder of Bloomberg LP, which operates Bloomberg News, serves as a member of Everytown for Gun Safety's advisory board and is a donor to the group. Everytown for Gun Safety advocates for universal background checks and other gun control measures. — With assistance by
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Domino's Pizza claimed the title of largest pizza company in the world last week, passing Pizza Hut. The company, in its fourth-quarter earnings report, said its self-proclaimed No. 1 ranking is based on global retail sales. Ann Arbor, Mich.-based Domino's edged out Pizza Hut of Plano, Texas, which had
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Warren Buffett published his annual letter to Berkshire Hathaway Inc. shareholders on Saturday, and I guess we have to talk about it, even though it was kind of boring. “It was his shortest missive in more than two decades,” points out my Bloomberg Gadfly colleague Tara Lachapelle, and it contained
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“In addition, data compiled by Canada Mortgage and Housing Corp. (CMHC) estimated the broker share of first-time-buyer home purchases involving RM financing at 55 per cent in 2017, up from 48 per cent in 2012, and the broker share of repeat-buyer purchases involving RM financing at 44 per cent
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The Midwest experienced severe rains, rising rivers, and extreme flooding over the past weekend. The heavy rains led to flooding from Louisiana to Michigan, forcing many counties to issue flood warnings, flood watches, and state of emergencies. The Grand River in Grand Rapids, Mich. reached above
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WASHINGTON—Two months of steep declines in sales of new homes across the U.S. haven't persuaded many economists that the housing market is turning lower. Purchases of newly built single-family homes—a relatively narrow slice of all U.S. home sales—fell 7.8% in January after dropping 7.6% in
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New Jersey's Democratic-controlled Assembly is moving forward with plans to toughen the state's gun-safety laws in the wake of the Feb. 14 shooting at a Florida high school that killed 17 people. The Assembly Judiciary Committee will consider seven bills on Feb. 28 that would approve personalized
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Phase 3 includes 30 new data points and updates to existing data points, primarily to incorporate new Home Mortgage Disclosure Act reporting requirements and changes related to condominium loan reporting. Fannie Mae began allowing optional delivery of its Phase 3 ULDD files late last year.
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The Mortgage Bankers Association (MBA) has appointed Deborah Dubois as President of the MBA Opens Doors Foundation, the trade group's philanthropic subsidiary that … Dubois was previously Chief Development Officer for the Center for Public Integrity, a non-profit investigative news organization.
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Further, the developer elected to obtain a permanent loan forward commitment, which was provided by The Federal Home Loan Mortgage Corp. via Prudential Affordable Mortgage Company LLC. The developer's joint-venture partner was a division of Prudential Financial Inc. It was a 15-month process
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Because Fannie and Freddie play such an outsized role in mortgage finance in this country, one of the longstanding legacies of the recession is that taxpayers today back a large majority of the nation's mortgage market. Fears around the degree to which taxpayers would be on the hook if the market
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50 Cent just joined the rest of the world obsessively scratching their heads over cryptocurrency, because his alleged Bitcoin fortune just dwindled from an unrealistic amount of millions of dollars, to a very realistic amount of ZERO, after he admitted that he has never once in his life owned a bitcoin.
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New home sales started 2018 with something of a whimper, according to new data from the U.S. Census Bureau and the Department of Housing and Urban Development. Sales of new single-family houses in January were at a seasonally adjusted annual rate of 593,000, which is 7.8 percent below the
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The Commerce Department said new home sales dropped 7.8 per cent to a seasonally adjusted annual rate of 593,000 units last month, the lowest level since August 2017. Economists polled by Reuters had forecast new home sales, which account for nearly 10 per cent of the housing market, rising to
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