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POAH begins construction on Bourne affordable housing family development
Preservation of Affordable Housing (POAH) has begun construction on 42 units of affordable housing on a parcel owned by the Bourne Housing Authority near Sagamore Beach. The 3-story Cape View Way development is a partnership between POAH and Housing Assistance Corporation.
HUD and DOE Announce New Partnership to Decarbonize U.S. Building Sector at COP28
At the 28th U.N. Climate Conference (COP28), the U.S. Department of Housing and Urban Development (HUD) announced new initiatives to address the challenges posed by the
New Appraisal Institute Explores Appraisal of Senior Housing, Nursing Home and Hospital Properties
The healthcare industry is one of the most competitive sectors of the U.S. Economy, and the real estate associated with it is one of
VA Foreclosure Pause Will Prevent Thousands of Veteran Foreclosures
Late Friday, the U.S. Department of Veterans Affairs called on mortgage servicers to pause foreclosures until May 31, 2024. This pause will give VA borrowers a much-needed opportunity to access the upcoming VA Servicing Purchase (VASP) program.
Commercial Mortgage Delinquency Rates Increased in Third-Quarter 2023
Commercial mortgage delinquencies increased in the third quarter of 2023, according to the Mortgage Bankers Association’s (MBA) latest Commercial Delinquency Report. “Not unexpectedly
Pending Home Sales Fell 1.5% in October
Pending home sales dropped 1.5% in October, according to the National Association of REALTORS®. The Northeast posted a monthly gain in transactions while the Midwest, South and West all recorded losses. All four U.S. regions noted year-over-year
Crowdfunding Initiative Provides Housing Essentials to Veterans Experiencing Homelessness
The Welcome Home Kit initiative aims to raise funds to support veterans experiencing homelessness across the nation on Veterans Day as part of the #DayForTheBrave campaign.
New Home Sales Weaken in October
Elevated mortgage rates that averaged 7.62% in October per Freddie Mac, the highest rate since 2000, depressed buyer demand and pushed down new home sales in October. Sales of newly built, single-family homes in October fell 5.6% to a
FHFA Announces Conforming Loan Limit Values for 2024
The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages Fannie Mae and Freddie Mac (the Enterprises) will acquire in 2024. In most of the
October New Home Purchase Mortgage Applications Increased 39.7 Percent
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for October 2023 shows mortgage applications for new home purchases increased 39.7 percent compared from a
Existing-Home Sales Receded 4.1% in October
Existing-home sales dropped in October, according to the National Association of REALTORS®. Among the four major U.S. regions, sales slid in the Northeast, South and West but were unchanged in the Midwest. All four regions experienced year-over-year sales
Single-Family Starts Flat in October
Single-family construction held steady in October as high mortgage rates depressed demand but more buyers turned to new homes because of a lack of existing inventory. Overall housing starts increased 1.9% in October to a seasonally adjusted
CONSTRUCTION EMPLOYMENT RISES IN 40 STATES & D.C. FROM OCTOBER 2022 TO OCTOBER 2023,...
Construction employment increased in 40 states and the District of Columbia in October from a year earlier, while 22 states added construction jobs from September to October
Innovative Cooperatives Receive $170,000 in Grants From Capital Impact Partners and National Cooperative Bank
The ninth annual Co-op Innovation Awards supported four organizations’ work in Louisiana, Massachusetts, New York
Mortgage Delinquencies Increase in the Third Quarter of 2023
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62 percent of all loans outstanding at the end of the third
NAR Finds Typical Home Buyer’s Annual Household Income Climbed to Record High of $107,000...
Buyer income annual increase of 22% is largest on record (from $88,000 in 2022 report); down payments jumped to highest percentages in two decades
NAREB’S 2023 STATE OF HOUSING IN BLACK AMERICA REPORT FINDS SHORTAGE OF HOUSING INVENTORY...
Among Factors Restricting Black Homeownership are Lower Wealth and Median Incomes, Unfavorable Housing Market Conditions, Shortage of Housing Stock, and Institutional Bias. Major barriers impede homeownership among African Americans, despite record-low Black unemployment and a higher labor force participation rate than Whites
Rising Mortgage Rates Push Housing Affordability to Lowest Level in Index History
Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade.
VA reduces premium rates for Veterans’ Mortgage Life Insurance
This month, the Department of Veterans Affairs reduced premiums for most Veterans and Service members insured under the Veterans’ Mortgage Life Insurance program.
Mortgage Application Payments Decreased to $2,155 in September
Homebuyer affordability improved slightly in September, with the national median payment applied for by purchase applicants decreasing to $2,155 from $2,170 in August. This is according to
