Tag: Mortgages

It Will Take More Than Lower Mortgage Rates for a Housing Rally

The Federal Reserve is hoping that its latest interest-rate cut will help keep the economy safely at cruising altitude. But don’t expect it to provide much of a lift to the housing market. Housing is one of the pathways by which Fed policy produces results. When the central bank cuts interest rates, it encourages people […]

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When the Dream of Owning a Home Became a Nightmare

When tens of thousands of African-Americans held the keys to their first homes in the early 1970s as part of a new federal program that encouraged black homeownership, they thought they were about to fulfill the American dream. Instead they got an American nightmare. The story begins with the urban uprisings of the late 1960s, […]

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Bank Regulators Present a Dire Warning of Financial Risks From Climate Change

WASHINGTON — Home values could fall significantly. Banks could stop lending to flood-prone communities. Towns could lose the tax money they need to build sea walls and other protections. These are a few of the warnings published on Thursday by the Federal Reserve Bank of San Francisco regarding the financial risks of climate change. The […]

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When a Mortgage Is Part of Your Retirement Plan

There is no mistaking how Eric Markowitz feels about borrowing money: “I hate debt,” he said. Dr. Markowitz, a dentist in Washington, D.C., took out a mortgage to buy a home for his family, but that’s the extent of his borrowing. And he fully intends to have it paid off by the time he retires […]

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Climate Risk in the Housing Market Has Echoes of Subprime Crisis, Study Finds

Want climate news in your inbox? Sign up here for Climate Fwd:, our email newsletter. WASHINGTON — Banks are shielding themselves from climate change at taxpayers’ expense by shifting riskier mortgages — such as those in coastal areas — off their books and over to the federal government, new research suggests. The findings echo the […]

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Trump Moves to Send Mortgage Giants Back to Private Sector

WASHINGTON — The Trump administration on Thursday unveiled a long-awaited plan to end federal control of two mortgage giants that were bailed out by taxpayers during the 2008 financial crisis and return them to the private sector. The administration’s 49 recommendations to overhaul America’s housing finance system are unlikely to find an eager audience in […]

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As Mortgage-Interest Deduction Vanishes, Housing Market Offers a Shrug

PLAINFIELD, Ill. — The mortgage-interest deduction, a beloved tax break bound tightly to the American dream of homeownership, once seemed politically invincible. Then it nearly vanished in middle-class neighborhoods across the country, and it appears that hardly anyone noticed. In places like Plainfield, a southwestern outpost in the area known locally as Chicagoland, the housing […]

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Lower Rates Already Hit Housing. They’re Not Helping Much.

Cheaper mortgages are usually a boon to the housing market. But this year, a sharp drop in mortgage rates hasn’t provided much of a lift, and that could bode poorly for the Federal Reserve’s efforts to shore up economic growth. To see why, take a look at what has happened in housing since mortgage rates […]

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Why Rate Cuts Don’t Help Much Anymore

Now that it has finally happened, don’t expect the Federal Reserve’s long-awaited rate cut to make all that much of a difference for the economy. In the weeks leading up to Wednesday’s decision to cut the benchmark Fed funds rate by 0.25 points to 2.25 percent, the stock market seemed to leap whenever Jerome H. […]

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The Fed Just Cut Interest Rates. Here’s What That Means for You.

Americans juggle a lot of interest rates in their daily lives. They pay interest on car loans, credit card balances and mortgages. They earn interest, at least a little, on the money they save with banks. Technically speaking, Federal Reserve officials did not touch any of those rates when they announced a quarter-point interest-rate cut […]

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Dozens of Nursing Homes With HUD-Backed Mortgages Have ‘Serious Deficiencies’

Dozens of the worst-run nursing homes in the United States have mortgages guaranteed by a federal agency that mostly stopped inspecting such homes several years ago. Seventy-four nursing homes with mortgages insured against default by the agency, the Department of Housing and Urban Development, are among 478 homes identified this month by two United States […]

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Risky Borrowing Is Making a Comeback, but Banks Are on the Sideline

A decade after reckless home lending nearly destroyed the financial system, the business of making risky loans is back. This time the money is bypassing the traditional, and heavily regulated, banking system and flowing through a growing network of businesses that stepped in to provide loans to parts of the economy that banks abandoned after […]

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A Nursing Home Chain’s Collapse Leaves the Government on the Hook

The cracks in the foundation of a Chicago nursing-home business began to appear almost immediately. The owners stopped making mortgage payments on their crown jewel, the Rosewood Care Centers, barely a year after buying it in 2013. Paperwork about the chain’s finances was never filed with the government. Some money meant for the 13 nursing […]

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