Fed holds interest rates steady: Here's what that means for credit cards, mortgages, car loans and savings rates
Inflation has surged since the war with Iran began, leaving policymakers with limited room to act, according to Sean Snaith, the director of the University of Central Florida's Institute for Economic Forecasting. "We're in a kind of suspended animation - between Iran and the Fed transition," Snaith said.
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Scammers send bogus offers of mortgage relief, Attorney General Todd Rokita warns Hoosiers
If you get offers for mortgage-relief services from solicitors asking for an upfront fee, you're almost certainly dealing with a scammer. "Hoosiers need to be aware that it's illegal for companies to charge you upfront for helping you find ways to pay your mortgage," Attorney General Todd Rokita said. "Don't fall victim to fraudsters trying to take advantage of your concerns about foreclosure or falling behind on payments." Indiana has ranked near the top in the nation for foreclosure rates, making the Hoosier State a prime target for these scammers.
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AI in mortgages: Reshaping the lending lifecycle
AI technology is rapidly and relentlessly injecting itself into every stage of the mortgage lifecycle, from initial loan origination to servicing. This is not incremental change; the technology is advancing by leaps and bounds, driving a profound and immediate need for awareness and adaptation. At minimum, banks are rigorously evaluating AI tools in testing environments to gauge viability.
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Then and Now: Curry making title industry more efficient at Allegiance
Curry and his team have created an automated way to enter real estate records into a database and have digitized millions of documents for their clients, making the title process easier and more efficient. "We've cut the price on that dramatically and done it through the use of technology and AI," Curry said. "I've worked on it since 2019. Some people work on their cars on the weekend; I work on databases."
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Home Prices Have Surged 551% Since 1980, Far Outpacing Income Growth
U.S. home prices have increased significantly faster than household incomes over the past four decades. According to a new analysis from Clever Real Estate and Best Interest Financial, home prices have risen 551% since 1980, compared to income growth of 373% over the same period. That divergence has pushed the national price-to-income ratio to approximately 5.08, nearly double the level of about 2.6 that is widely considered affordable.
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