Household income climbs in some big cities, outweighed by inflation in others

Household income in the U.S. rose slightly in 2024, but the picture looks very different depending on where you live. The national median income reached $83,730 last year, up 1.3% from 2023, according to a new report from online fintech company SmartAsset. That modest increase failed to keep pace with the roughly 3% inflation rate, meaning that many households effectively lost homebuying power. But...

Century-old Los Angeles homes that outshine any new build

Los Angeles is full of gleaming new mansions with walls of glass, infinity pools, and every gadget you can imagine. But while the latest builds might dazzle with square footage and tech, they often lack the kind of personality you’ll find in a home that’s been standing for nearly a century. For architecture lovers and history buffs alike, L.A.’s older estates offer something more enduring: a...

Federal Reserve Delivers First Rate Cut of 2025 as Mortgage Relief Proves Limited

The Federal Reserve lowered interest rates for the first time in nine months this week, trimming its benchmark federal funds rate by a quarter percentage point to a range of 4% to 4.25%. The widely expected move comes as policymakers seek to ease borrowing costs that have strained households and businesses across the economy. The decision, backed by Fed Chair Jerome Powell and 11 members of the Federal...

How will lenders recalibrate as Fed signals path to lower rates?

Mortgage lenders are recalibrating ahead of the Federal Reserve’s anticipated monetary easing cycle by rolling out rate promotions, streamlining operations and broadening product menus. They aim to capture demand while navigating affordability and margin pressures.  Executives told HousingWire they’re preparing for renewed borrower activity as rates edge lower — but with caution, given political...

GoodLife’s Chase Kinder on growing his company’s reverse mortgage presence

Last week, Traditional Mortgage Acceptance Corp. (TMAC), dba GoodLife Home Loans, announced a leadership change when it promoted Chase Kinder to lead its wholesale division. GoodLife is the country’s fourth-largest originator of Home Equity Conversion Mortgages (HECMs), according to the most recent industry data from Reverse Market Insight. The company endorsed 1,344 HECM loans during the year ending...

Compare listings

Compare
en_USEnglish