How long does it take to save up for a starter home? Twice as long as it did in 2019
Mortgage rates topping 7% is the latest sign of how hard it has gotten to buy a first house, with aspiring owners already facing sky-high prices. A new analysis out Thursday shines a light on yet another growing obstacle: the amount needed to close a home loan. "Over the last seven years, the time to save up that down payment and closing costs has doubled," said Mike Calhoun, president of the Center for Responsible Lending, a research nonprofit that promotes economic opportunity. The report was released by the center's Julian Bond Institute.
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Fewer Buyers Go Under Contract as Mortgage Rates Remain High
Housing market conditions weakened in September as fast-rising mortgage rates prompted many buyers to pause their search. Just as the housing market begins to offer buyers more opportunities-with growing inventory and more sellers cutting prices-rising mortgage rates are making some buyers nervous to move forward. Economists point to elevated borrowing costs as a key factor behind what is shaping up to be a sluggish fall homebuying season.
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Trump signs order aimed at reducing single-family housing costs
Trump's order directs the Federal Housing Finance Agency ?to launch a pilot program to cancel borrowers' mortgage insurance premiums ?once they meet equity requirements based on current market values. It also ?makes permanent an FHFA pilot program waiving title insurance requirements for mortgage refinancings.
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Paying the Limits May Satisfy the Policy. A Split Ninth Circuit Says It May Not Satisfy the Duty of Good Faith.
An insurer exercises an option expressly afforded by its policy, pays the policy limits, and thereby satisfies its contractual obligations. One might reasonably expect that to end the dispute. In Quilbillies, LLC v. First American Title Insurance Co., 2026 WL 2731415, Case No. No. 25-501 (9th Cir. Sept. 16, 2026), a split Ninth Circuit panel held otherwise, at least as to bad faith.
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A dream home with an attached legal nightmare
"The sellers of the home moved out of state and had the house for sale. They signed the agreement from our offer and then just went radio silent and were unwilling to move forward with the process after they accepted the offer," Noah Arens said. "So we went through the process of trying to serve in person, and that seemed like it was not going to happen. It took a long time, the days and weeks kept adding up."
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