The Federal Reserve announced the decision after a meeting of its board of governors
Market observers are nearly certain the Fed will hike rates this week, and again in December
In the latest CFPB report, the watchdog found that servicers had harassed consumers and tricked them into paying higher fees.
The increase was the lowest since November 2012 and is another indication that lending standards need to be loosened, says Shirmeyer.
Tomorrow the Fed will begin its two-day FOMC meeting that is expected to put an end to its bond-buying program, but America’s weak economy may give officials pause.
NAR reported year-over-year pending home sales were up 1%, the first year-over-year increase in 11 months. Meanwhile, markets are unsure what the Fed will do about ending QE.
Financial markets have stopped their hysterics for now, so let’s get some other things straight, like mortgage and credit.
It may have been a while coming, but the regulator has finally spelled out a number of changes to its rules, including QM loan requirements.