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News Clips

Bloomberg, Wednesday, March 25, 2015
(RECAP: Americans in their 20s and early 30s are getting a nudge toward homeownership a decade after sales peaked during the housing bubble. It’s not their nagging parents. It’s rents. They’ve risen so much that buying is making more sense. Purchases by younger buyers are likely to grow gradually as millennials work through hurdles such as student debt, lack of down-payment funds and later family formation than previous generations.)
CNN, Wednesday, March 25, 2015
(RECAP: Do consumers and investors need to be worried about another housing bubble? Hopefully, the answer is no. But the question can't be ignored.)
RealEstateRama, Wednesday, March 25, 2015
(RECAP: The public will have multiple opportunities in the coming months to weigh-in on a draft Affordable Housing Master Plan and Implementation Framework through a series of meetings, events and on-line engagement, the Arlington County Board agreed during a recent work session. The Board reviewed the drafts, which outline affordable housing goals, objectives, policies and tools to meet the community’s shifting needs, in a March 23 work session with the County Manager and the Affordable Housing Study Working Group.)
USA Today , Wednesday, March 25, 2015
(RECAP: When it comes to buying a home, many Millennials are in the dark about closing costs, a key figure when calculating the prices they'll ultimately pay. That's according to a national survey released Wednesday that found roughly 2/3 of potential home buyers between the ages of 18 and 34 don't know they'll have to pay that final bundle of fees before they close the deal. The poll of roughly 1,000 adults, taken between Dec. 11 and 14, also found that it's not just Millennials who lack such knowledge. Among all prospective home buyers, regardless of age, 34% said they are "not very'' or "not at all'' aware of closing costs.)
RealEstateRama, Wednesday, March 25, 2015
(RECAP: In an effort to spur substantive and structural housing finance reform, U.S. Senators Bob Corker (R-Tenn.) and Mark Warner (D-Va.), members of the Senate Banking Committee, today offered a component of the Jumpstart GSE Reform Act as an amendment to S.Con.Res.11, the fiscal year 2016 budget resolution. The amendment would prohibit the sale of Treasury-owned senior preferred shares in government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac without congressional approval.)
Reuters, Tuesday, March 24, 2015
(RECAP: Federal Reserve policymakers should wait no more than a few months before considering raising U.S. interest rates from their current near-zero level, a top Fed official said on Tuesday. San Francisco Fed chief John Williams, a voter on Fed policy this year, made nearly identical remarks on March 5.) , Tuesday, March 24, 2015
(RECAP: In its fifth year, the Expo was hosted by Fairfax-based AHOME Foundation in cooperation with VHDA and representation from the counties of Fairfax, Prince William, Arlington and Loudoun, the cities of Alexandria, Fairfax and Falls Church, and the town of Herndon. “There is still a great need for affordable housing throughout our entire region,” said Laura Nickle, owner of Communi-k, Inc. and the organizer of the Expo, “and this is a great partnership of related services that can bring the information and assistance to the largest audience.”)
NCSHA, Tuesday, March 24, 2015
(RECAP: Last week, HUD Secretary Julián Castro unveiled a new proposed rule to amend the federal "Section 3" program, which requires that HUD-funded jobs and contracts, to the greatest extent possible, be directed to local low-income residents and the businesses that employ them. The program is designed to create incentives and opportunities for individuals and communities that receive HUD funding to become more self-sufficient. Secretary Castro also announced that the Section 3 Business Registry will now become a national initiative.)
Mortgage Professional America , Tuesday, March 24, 2015
(RECAP: A new credit model could potentially add another $272 million in annual revenues for Fannie Mae and Freddie Mac and also increase the amount of mortgages made to Hispanic and African-American households. As part of its 2015 scorecard, the FHFA, which regulates Fannie and Freddie, has directed the government-sponsored enterprises (GSEs) to “Assess the feasibility of alternate credit score models and credit history in loan-decision models, including the operational and system implications.”)
Market Watch , Monday, March 23, 2015
(RECAP: The price of buying and renting a home are rising, squeezing consumers and dampening the housing market. The median sales price of used homes hit $202,600 in February, up 7.5% from the year-earlier period. This is the largest increase in a year and is “unhealthy” said Lawrence Yun, chief economist of the National Association of Realtors. Potential first time buyers on the sidelines, and renters are also being squeezed as rents are rising at a 3.5% rate, Yun noted.)
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