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HUD Increases Flood Insurance Options for FHA Mortgages

HUD Increases Flood Insurance Options for FHA Mortgages The U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA) recently announced that effective December 21, 2022, it will allow homeowners with FHA-insured mortgage financing to obtain flood insurance policies that conform to FHA requirements from private insurance providers. The change was

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Mortgage Originations Experience Biggest Annual Drop in 21 years

Mortgage Originations Experience Biggest Annual Drop in 21 years ATTOM Data says mortgage originations are experiencing their biggest annual drop in 21 years.  The data comes from their third-quarter 2022 U.S. Residential Property Mortgage Origination Report, which shows that 1.97 million mortgages secured by residential property (1 to 4 units) were originated in Q3 2022

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Housing Starts & Permits Continue to Fall

Housing Starts & Permits Continue to Fall The U.S. government is reporting that privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1425,000, which is 2.4% lower than September’s revised number and 8.8% lower than one year ago.  October’s rate for units in buildings with five units or more was 556k. 

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Local Market Monitor’s National Economic Outlook for November ’22

Local Market Monitor’s National Economic Outlook for November ’22 Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook By Ingo Winzer November, 2022 Recent data about more jobs and an improving Gross Domestic

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