Housing Costs Are Running Hot

Core inflation has declined, but housing costs remain high. Unless those costs cool, some experts doubt core inflation will return to the Fed’s 2% target.

Does Reverse Mortgage Have a Non-Recourse Clause?

Check the paperwork and read for context. “Non-recourse” is more of a description of how a loan works than a direct term, so it could be described differently.

Average 30-Year Mortgage Rate Rises to 6.94%

That’s up from 6.90% last week, marking the 4th straight weekly increase. Rates have been creeping higher as reports show stronger-than-expected inflation.

Pending Home Sales Receded 4.9% in January

NAR: Pending sales were down 8.8% year-over-year. Chief Economist Yun noted that “consumers are showing extra sensitivity to changes in mortgage rates.”