A controversial bill that would extend an increase on guarantee fees (g-fees) on mortgages backed by the GSEs or the Federal Housing Administration (FHA) has passed in the House of Representatives. The bill, H.R. 6429 (STEM Jobs Act of 2012), proposes reforms for immigrant visas offered to immigrants who possess advanced training in science, technology, engineering, or mathematics. A section added to the bill calls for a one-year extension of g-fee hikes to help pay for the program, changing the end date on the fee increases from October 2021 to October 2022.
Read More »Texas’ Hensarling Elected Chair of House Financial Services Committee
Rep. Jeb Hensarling (R-Texas) has been elected chairman of the House Financial Services Committee. Hensarling replaces Rep. Spencer Bachus (R-Alabama) who headed the committee for the past six years.
Read More »Capital Economics: Recovery is ‘The Real Deal’
The ongoing housing recovery will remain sustainable for the foreseeable future, analysts for Capital Economics say.
Read More »As Fiscal Cliff Negotiations Drag On, Mortgage Rates Settle In
Fixed mortgage rates showed little signs of life in the last full week of November, hovering near record lows as markets show increased worry about the fiscal cliff.
Read More »Consumer Confidence Hits Snag Amid Budget Concerns
Consumer confidence hit the wall in November as Americans sweat the rapidly approaching fiscal cliff, according to a survey.
Read More »NAR Releases Projections on Housing, Economy
The National Association of Realtors (NAR) offered market projections into 2014 during a forum at the 2012 Realtors Conference and Expo.
Read More »Economists Discuss Electoral Impact of October Jobs Report
Last week's jobs report contained some good news with the bad, but analysts doubt there's enough to influence the presidential election.
Read More »Unemployment Rate Inches Up Even as Jobs Numbers Increase
The nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós unemployment rate inched up to 7.9 percent in October, even as the economy added 171,000 jobs, the Bureau of Labor Statistics reported Friday. The labor force--the sum of employed and unemployed--improved in October, causing the bump in the unemployment rate and signaling renewed confidence among those on the sidelines that jobs are available. With its mixed results, the report provides fodder for both President Barack Obama and Governor Mitt Romney four days before Election Day.
Read More »Mortgage Rates Hover as Uncertainty Reigns
Fixed mortgage rates fell back slightly to start November as investors anxiously wait for signs of which direction the economy is headed.
Read More »NAHB: Housing Construction on Track for Growth in Coming Years
In a webinar hosted by the NAHB, economists discussed the housing recovery, what's keeping it going, and what may throw it off course.
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