The Federal Reserve lowered its benchmark interest rate on Wednesday by 50 basis points (bps) to a range of 4.75% to 5%, turning an important corner in the central bank’s fight against inflation. The cut is the first since March 2020 after the Fed raised interest rates to a 23-year high point to coo

Democratic lawmakers in both the U.S. House of Representatives and the Senate have introduced a new bill into both chambers with a stated goal of constructing and preserving affordable housing. They also seek to create a new national housing development authority to provide an “alternative to a mark

After Hanna Holdings, the parent company of Howard Hanna Real Estate Services, filed a motion to dismiss, the Davis commission lawsuit plaintiff could have either filed a reply brief or an amended complaint. On Monday, the court got its answer, with the plaintiff’s counsel filing its first amended c

Dawn Pfaff is a free-market evangelist, and that informs how she runs MyState MLS. The privately owned multiple listing service has taken a laissez faire approach since its launch in 2009, as it promises no fines and fewer rules than MLSs owned by Realtor associations.This manifesto has helped MySta

For agents in New Hampshire, this week marks two months since PrimeMLS, the state’s multiple listing service, implemented the business practice changes outlined in the National Association of Realtors’ nationwide commission lawsuit settlement agreement.In these two months, one overwhelming trend has

Federal Reserve policymakers are expected to lower the benchmark interest rate on Wednesday for the first time in more than four years. But it appears to be anyone’s guess as to how large the cut will be.Interest rate traders were giving shorter odds on Tuesday afternoon to a cut of 50 basis points

Curbio, a home renovation startup that specializes in pre-sale work, has agreed to settle fraud allegations made by the Office of the Attorney General for the District of Columbia. As part of the settlement, Curbio agreed to pay $7.5 million. The company denied wrongdoing and said in a statement tha

Global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from home equity solutions provider Unison. Carlyle also made a strategic investment into the San Francisco-based Unison, enabling it to launch its Equity Sharing Home Loan product. “We are excited

Industry-leading reverse mortgage lender Finance of America (FOA) on Tuesday announced updates and new details for a previously announced exchange offer, which would swap current investor bonds due in 2025 with new bonds due one to four years later.The current unsecured notes, due in 2025 with an in

The government of Canada is moving to federally fund research from Ontario-based Brock University, which will seek to better understand how smart-home technology impacts the prospects for older people wanting to age in place in their homes.Technology companies, entrepreneurs and governments alike ha

The role of the buyer’s agent has been turned on its head and Lone Wolf Technologies wants to help. The real estate software company is launching a “Buyer’s Agent Club” that is designed to assist agents in navigating an uncertain time in the industry through resources, tools and training.“For decade

A historic rise in home prices and nearly three years of high mortgage rates have put housing issues front and center in the 2024 presidential campaign. Kamala Harris has outlined an ambitious vision for housing that would involve the construction of 3 million new homes in four years. At a policy di

If Donald Trump wins a second term in the White House, he’s going to attempt to return Fannie Mae and Freddie Mac to private status after more than 16 years under federal conservatorship. That’s according to Mark Calabria, the former head of the Federal Housing Finance Agency (FHFA) under Trump. As

The federal government is launching a campaign on Zillow to help provide housing counseling services to more Americans.The U.S. Department of Housing and Urban Development (HUD) on Tuesday also will publish a new final rule in the Federal Register to expand accepted communication methods for counsel

Keller Williams‘ legal worries just got a little lighter. On Friday, the real estate franchisee and the plaintiffs’ counsel in the Mcfarlane suit reached a settlement agreement for the lawsuit related to the firm’s recently abandoned changes to its profit-sharing program.In an email, Keller Williams

The James Dwiggins-helmed firm NextHome is the newest real estate brokerage to settle the commission lawsuits. The firm notified the court of its settlement agreement on Tuesday in the consolidated Gibson and Umpa suits suits via a brief filed last week.The filing does not note how much NextHome has

At the end of August, Guild Mortgage announced a suite of products under the name “Flex Payment Mortgage,” which includes Home Equity Conversion Mortgage (HECM) reverse mortgage products alongside refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.Jim Cory, managing director of

Like all of the other settlements so far, plaintiffs’ attorneys in the ongoing real estate agent commission lawsuits have asked a court for one-third of the settlement amounts agreed to by the National Association of Realtors (NAR) and HomeServices of America.In a filing in the Sitzer/Burnett suit o

The country’s largest wholesale lender, United Wholesale Mortgage (UWM), has launched a broker training program that will teach individuals to become licensed mortgage originators. Dubbed “BrokerX,” the five-week program will provide existing brokers with a “streamlined solution” for training and li

Recipients of the federal Social Security benefits program are on track to receive a 2.5% cost-of-living adjustment (COLA) in 2025, a smaller increase than in recent years as the bite of inflation loosens its grip.A forecast released last week by The Senior Citizens League (TSCL) arrived just ahead