article thumbnail

CFPB contracting officer details ‘wholesale termination’ of key contracts

Housing Wire

A person who describes himself as a contracting officer with the Consumer Financial Protection Bureau (CFPB) filed an affidavit in the U.S. District Court for the District of Columbia , saying that widespread cuts to contracts amount to an event that is likely to disrupt the functioning of the bureau. Doe claims that on Feb.

Contracts 356
article thumbnail

Alabama law: Buyers don’t have to sign contract before home tours

Housing Wire

Formerly known as House Bill 230 , the law reaffirms Alabamas existing Real Estate Consumers Agency and Disclosure Act (RECAD) framework, with emphasis on early discussions of brokerage services and compensation, but it prevents consumers from signing a contract with an agent early on in their relationship.

Law 277
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The two big housing market trends to watch in 2025

Housing Wire

Inventory continues to contract There are now 651,000 single-family homes unsold on the market across the U.S. Well see another week of inventory contraction this week with New Years mid-week. Total pendings increase When we look at sales volumes, there are 269,000 single-family homes under contract. fewer than a week prior.

article thumbnail

Mortgage applications rebounded 20% last week as rates dipped

Housing Wire

All average contract interest rates saw decreases across the board. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances decreased to 6.65% from 6.76%, while the average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.33% from 6.37%. from 14.4%

Mortgage 458
article thumbnail

Mortgage applications climb as rates continue to decline

Housing Wire

While the average contract interest rate for 30-year fixed-rate mortgages decreased to 6.67%, every other loan type saw rates decrease. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances also saw a decrease to 6.68% from 6.83%. The USDA share of total applications decreased to 0.4%

Mortgage 407
article thumbnail

HUD cancels HECM-related tech contract under direction of DOGE

Housing Wire

Department of Housing and Urban Development (HUD) has moved to cancel a contract that involves a technology service for Home Equity Conversion Mortgage ( HECM ) counselors , according to a review of the contract details on government websites and an announcement from the National Reverse Mortgage Lenders Association (NRMLA).

Contracts 248
article thumbnail

Pending Home Sales Climb to Highest Level Since March

Appraisal Buzz

increase in the Pending Home Sales Index (PHSI), a measure of future home sales based on contract signings, to 75.8, The amount of contract activity in 2001 is represented by an index of 100. Year-over-year, contract signings grew in the Northeast and West and were unchanged in the Midwest and South. September saw a 7.4%

Contracts 418