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Memphis median listing prices fell 4.1% year-over-year in August, placing the city among the top three metro areas with the largest price declines nationally, according to Realtor.com data released this month.
The Federal Housing Administration set a January 1 implementation date for two new credit scoring models, ending decades of exclusive reliance on Classic FICO for government-insured mortgages.
The Federal Housing Administration will begin accepting two modern credit scoring models alongside Classic FICO for loans with case numbers dated on or after January 1, 2027, ending decades of reliance on a single scoring system.
Los Angeles County officials warn homeowners about a fraudulent scheme promoting a nonexistent IRS form that falsely claims to freeze or reduce property taxes, spreading through social media and phone calls.
Honolulu and Kauai County homeowners have until September 30 to file for property tax exemptions worth up to $260,000, while Hawaii and Maui counties offer more time.
The average 30-year fixed mortgage rate hit 7.07% yesterday, the highest since May 2025, driven by rising oil prices and inflation fears linked to the ongoing Iran conflict.
The 30-year fixed mortgage rate reached 7.07% this week, the highest level in 16 months, as rising Treasury yields and inflation concerns push borrowing costs above the critical 7% threshold for the first time since May 2025.
Core inflation came in hotter than expected at 0.3% for the month, driven by persistent services and shelter costs, raising the odds of a Fed rate hike next week and pushing mortgage rates above 6.9%.
Sales dropped to 3.98 million in August, the slowest pace since June 2025, while housing supply climbed to 4.9 months—the highest level in more than a decade—giving buyers new leverage to negotiate.
Core inflation came in hotter than expected ahead of next week’s Federal Reserve meeting, with shelter costs accelerating and pushing odds of a rate hike above 50%.