Trump's Latest Housing Move Promises Major Relief, but Which Buyers Will Actually Save Thousands?
Last month, President Trump signed an executive order aimed at housing affordability. The multipart order runs the gamut, touching on everything from manufactured housing to permitting to direct the Departments of Agriculture and Veterans Affairs to reduce interest rates on their direct single-family loan programs to adjusting closing cost fees paid by certain homeowners. But while the math works out for some, it's important to recognize some of the serious caveats as well.
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Carrollton Man Pleads Guilty In $1.5M Deed Fraud Scheme As Property Scam Attempts Rise
According to court filings summarized by prosecutors, Levi and alleged accomplices identified vacant properties without liens whose owners lived out of state. They obtained fake driver's licenses and passports and created email and internet-based telephone accounts under the owners' names. Those identities helped them persuade real estate professionals to list properties, negotiate sales, and transfer deeds to unsuspecting buyers, prosecutors said.
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Nearly Half Of Foreclosures Involve Newer Loans As FHA Auctions Surge
Mortgages originated since 2022 now account for nearly half of completed foreclosure sales, while foreclosure auction activity involving those newer loans has surged 73% over the past year, according to separate reports from Intercontinental Exchange (ICE) and Auction.com. The findings point to a significant shift in the foreclosure pipeline, with loans originated during the higher-rate, higher-home-price environment increasingly appearing among distressed properties.
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New Trump housing order targets mortgage and title insurers
A White House plan to pull private mortgage insurance off loans sooner, and to let refinancing borrowers skip the lender's title policy, affects two insurance lines that say they already help keep costs down.
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Fed holds interest rates steady even as inflation remains stubborn
The Federal Reserve opted not to raise interest rates Wednesday, but signaled that it's not retreating from the fight against stubborn inflation. The central bank renewed its pledge to deliver price stability, a goal that's been made more difficult by a spike in energy prices tied to the U.S. war with Iran. "Inflation remains elevated," the Fed's rate-setting committee acknowledged in a statement.
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