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Mortgage

Real Estate
Home Sales Tumble As Prices Set Records: Here's Why Home Sales Tumble As Prices Set Records: Here's Why
Home Sales Tumble As Prices Set Records: Here's Why US home sales dropped more than expected in June as buyers pulled back amid record-high prices and mortgage rates that have stayed high. Sales of previously owned homes fell 2.7% in June to a seasonally adjusted annual rate of 3.93 million, according to the National Association of REALTORS. Analysts had predicted just a 0.7% drop, CNBC reported. The median sales price nationwide rose 2% from June 2024 to $435,300, setting a new record. The report reflects contracts likely signed in April and May, when the average 30-year mortgage rate hovered above 6.8% and briefly topped 7%, according to M…

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by Chris Spiker
Police & Fire
Maryland Firefighter Dies A Hero — Now His Family’s Mortgage Is Paid For Life Maryland Firefighter Dies A Hero — Now His Family’s Mortgage Is Paid For Life
Maryland Firefighter Dies A Hero — Now His Family’s Mortgage Is Paid For Life The family of fallen Baltimore firefighter Rodney Pitts III is receiving a powerful act of support following his line-of-duty death: their mortgage is being paid in full. The Tunnel to Towers Foundation announced it has paid off the mortgage on the Baltimore home where Pitts lived with his fiancée, Natasha, and their three children: Harper, Arianna, and Hendrix. Pitts, 31, was killed in the line of duty while battling a rowhouse fire on Oct. 19, 2023, in Baltimore City.  He was one of two firefighters who lost their lives that day.  The original incident drew citywide mourning a…

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by Zak Failla
News
Feds Finalize Rule Erasing $49 Billion In Medical Debt From Credit Scores, CFPB Says Feds Finalize Rule Erasing $49 Billion In Medical Debt From Credit Scores, CFPB Says
Feds Finalize Rule Erasing $49 Billion In Medical Debt From Credit Scores, Cfpb Says About 15 million Americans will see their credit reports cleared of medical debt under a new rule approved by the Consumer Financial Protection Bureau. The CFPB has finalized a landmark rule that removes $49 billion in medical debt from credit reports, the bureau said in a news release on Tuesday, Jan. 7. The regulation also prohibits lenders from using medical information in lending decisions when evaluating loan applications. The rule is expected to raise credit scores by an average of 20 points and enable the approval of 22,000 additional mortgages annually. "People …

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by Chris Spiker