FHFA: Index Shows Mortgage Rates Decreased in April 2017
Washington, DC – Nationally, interest rates on conventional purchase-money mortgages decreased from March to April, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.97 percent for loans closed in late April, down 15 basis points from 4.12…
CFPB: Take the Quiz to See How Prepared You Are to Make Financial Decisions
When it comes to making financial decisions, do you feel prepared? For example, if you need to buy a new car, are you prepared to make the financial decisions that come with taking out an auto loan? What if you are ready to get a new credit card? How will you decide which one offers…
Census Bureau: The South is Home to 10 of the 15 Fastest-Growing Large Cities
Texas Cities Continue to Top the Charts MAY 25, 2017 — Ten of the 15 fastest-growing large cities were located across the South in 2016, with four of the top five in Texas, according to new population estimates released today by the U.S. Census Bureau. Conroe, Texas (near Houston), was the fastest-growing large city (population…
SBA: SBA Partners with Synergy Solutions to Launch Cybersecurity Online Training Initiative
WASHINGTON – Today, the U.S. Small Business Administration announced its partnership with Synergy Solutions to launch a free, new comprehensive series of web-based cybersecurity training containing up to 10 modules to educate 7(j) eligible small businesses about cybersecurity and steps they can take to protect their company’s assets and intellectual property. While the classes are…
FHFA: Request for Input to Improve Access to Credit for Qualified Mortgage Borrowers with Limited English Proficiency
Washington, DC – The Federal Housing Finance Agency (FHFA) today issued a Request for Input on issues facing qualified mortgage borrowers with Limited English Proficiency (LEP) throughout the mortgage life cycle process, including lending and servicing. FHFA’s 2017 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions, requires Fannie Mae and Freddie Mac (the…
CFPB: Seeking Comment on Plan for Assessing the ATR/QM Rule
Today, we released our plan to assess the effectiveness of the Ability-to-Repay/Qualified Mortgage rule (ATR/QM rule). We are asking the public to comment on our plan, to suggest sources of data, and generally to provide information that would help with the assessment. We see conducting the assessment as an opportunity. Conducting the assessment will advance…
FHFA: U.S. House Prices Rise 1.4 Percent in First Quarter
Washington, D.C. – U.S. house prices rose 1.4 percent in the first quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.0 percent from the first quarter of 2016 to the first quarter of 2017. FHFA’s seasonally adjusted monthly index for March was up 0.6 percent…
CFPB: New Information Will Help U.S. Improve Financial Literacy
New information released today shows how well American teens understand financial concepts and can apply them to their own situations. The Organisation for Economic Co-operation and Development (OECD) published results of the 2015 Programme for International Student Assessment (PISA) financial literacy assessment. This new information will help us develop targeted programs and initiatives to ensure…
CDFI Fund: 2017 NMTC Program Electronic Application Now Available
The electronic application for the 2017 round of the New Markets Tax Credit Program (NMTC Program) is available for applicants through their Awards Management Information System (AMIS) accounts. The Community Development Financial Institutions Fund (CDFI Fund) published the Notice of Allocation Availability for the 2017 round in the Federal Register on May 4, 2017. Community…
HUD: Trump Administration Proposes 2018 HUD Budget
WASHINGTON – The Trump Administration today announced the proposed 2018 Budget for the U.S. Department of Housing and Urban Development (HUD). The Budget reflects the President’s commitment to support HUD’s critical functions that provide rental assistance to low-income and vulnerable households and to help work-eligible families achieve self-sufficiency. The President’s 2018 Budget continues to provide…