Despite budget inaction, about 190 new state laws take effect Jan. 1 by Monique Garcia Contact Reporter Chicago Tribune

They couldn’t agree on a full state budget at the Capitol, but Democrats in the legislature and Republican Gov. Bruce Rauner were able to set aside their differences to eliminate taxes on the purchase of tampons and other feminine hygiene products, create more flexible sick leave rules for workers, and add wage protections for domestic workers such … More Despite budget inaction, about 190 new state laws take effect Jan. 1 by Monique Garcia Contact Reporter Chicago Tribune

Industry Insight: Changes in Mortgage Pricing

DS News spoke with John Ardy, CEO of Resitrader, to discuss just that. Ardy divulged insight into what mortgage trends he is currently seeing, the opportunities and challenges that come with these trends, and what industry shifts are anticipated for 2017. What mortgage trends are you currently seeing in the industry? Well, I think the election … More Industry Insight: Changes in Mortgage Pricing

The Week Ahead: Will Home Prices Slow Down? by Mirasha Brown for DS News

As the year comes to a close, industry experts are reflecting on the forces that have impacted the 2016 housing market, including a lack of inventory, rising mortgage rates, a surge in home prices, and disinterested millennials. This week, new reports from CoreLogic and the National Association of Realtors (NAR) will reveal recent market changes … More The Week Ahead: Will Home Prices Slow Down? by Mirasha Brown for DS News

Could a Full Foreclosure Recovery Come Sooner Than Anticipated?

The foreclosure crisis is finally nearing an end, at least according to Bill Emmons, an Economist and Assistant VP with the St. Louis Fed in conjunction with the St. Louis Fed’s quarterly Housing Market Conditions report. Emmons says that while some states are still taking a longer time than others to hit pre-crisis foreclosure and … More Could a Full Foreclosure Recovery Come Sooner Than Anticipated?

Boosting Homeownership Among Minorities by Kendall Baer

Minority home mortgages increased more than white home mortgages between 2013 and 2015 in several metros across the U.S., according to a recent report from Urban Institute. The report is quick to add that this increase was not without a “virtual roller coaster” of sorts starting with a homebuying surge during the housing boom and … More Boosting Homeownership Among Minorities by Kendall Baer

Cash Sales, Distressed Sales, and REO Sales, Oh My…

The shares of cash and distressed sales in the overall U.S. housing market in September continued their slow march back toward pre-recession norms. The most recent look into nontraditional sales by CoreLogic showed that cash sales comprised a little less than 32 percent of home sales in September, while distressed sales made up 7 percent. September’s cash numbers were … More Cash Sales, Distressed Sales, and REO Sales, Oh My…

2016 American Household Credit Card Debt Study The average household has $132,529 in debt. For households that carry credit card debt, it costs them about $1,300 a year in interest. It’s time to take action. by Erin El Issa

Debt is American as apple pie, with overall U.S. household debt growing 11% in the past decade. Today, the average household with credit card debt has balances totaling $16,061, and the average household with any kind of debt owes $132,529, including mortgages. While “don’t spend above your means” will always be sound advice, NerdWallet’s annual … More 2016 American Household Credit Card Debt Study The average household has $132,529 in debt. For households that carry credit card debt, it costs them about $1,300 a year in interest. It’s time to take action. by Erin El Issa

HUD/Census Bureau New Residential Sales for November 2016, Friday, December 23

New residential home sales were up by 18 percent over the year, selling at an annual pace of 563,000—accounting for approximately 11 percent of all residential home sales during the month, according to the joint report from HUD and the Census Bureau. The industry will find out how new home sales performed in November 2016 when HUD … More HUD/Census Bureau New Residential Sales for November 2016, Friday, December 23

The 10 States with the Highest Number of Foreclosure Filings

Source: ATTOM Data Solutions New Jersey: 1 in every 598 housing units Delaware: 1 in every 792 housing units Nevada: 1 in every 793 housing units Connecticut: 1 in every 969 housing units Maryland: 1 in every 981 housing units Florida: 1 in every 991 housing units Illinois: 1 in every 1,038 housing units Ohio: … More The 10 States with the Highest Number of Foreclosure Filings

The Fed Raised the Rates…Now What? by Brian Honea

For the first time in a year and only the second time in a decade, the Federal Open Market Committee (FOMC), the policy making arm of the Federal Reserve, voted on Wednesday in its eighth and final meeting of the year to raise the federal funds target rate by 25 basis points up to the 0.50 to 0.75 … More The Fed Raised the Rates…Now What? by Brian Honea