The Pulse

U.S. Commerce Department: Housing starts and permits up strongly in June
Nationwide housing starts and permits posted substantial gains in June as home builders responded to improved market conditions and the impending expiration of the first-time buyer tax credit, according to data released by the U.S.... Read more
HUD grants $360 million in Recovery Act funds to support community and economic development
In the Obama Administration's continued effort to stimulate community development and job growth, U.S. Housing and Urban Development Secretary Shaun Donovan has announced nearly 700 grants totaling $360 million in funding through the... Read more
Home builder survey finds apartment and condo construction brings jobs and economic benefits
A new report from the National Association of Home Builders (NAHB) will enable city and county leaders to paint a clearer picture of the positive impact of building new multifamily communities. Using a proprietary modeling method, the... Read more
Freddie Mac survey: Mortgage rates drop for third consecutive week
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.14 percent with an average 0.7 point for the week ending July 16, 2009, down from last week when it... Read more
NAHB study: Builder confidence rises two points in July
Builder confidence in the market for newly built, single-family homes notched up two points in July to its highest level since September 2008, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).... Read more
Consumer Mortgage Audit Center study reveals the five most common mortgage violations
Ninety-eight percent of all mortgages are potentially eligible to be renegotiated due to Truth-in-Lending Act violations according to a review of thousands of mortgage documents undertaken by the Consumer Mortgage Audit Center (CMAC). The... Read more
Rep. Bachus comments on SAFE Act progress
Rep. Spencer Bachus (R-AL), the top Republican on the Financial Services Committee, made the following statement regarding the implementation of the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), which he authored. Rep... Read more
Rep. Velázquez comments on small business tax provisions in the American Recovery and Reinvestment Act
Rep. Nydia M. Velázquez (D-NY), Chairwoman of the House Small Business Committee, delivered the following opening statement today before the House Committee on Small Business hearing Economic Recovery: Tax Stimulus Items that Benefitted... Read more
New York metro area construction starts expected to decline 34 percent in 2009
McGraw-Hill Construction, part of The McGraw-Hill Companies, has released the 2009 New York Metro Construction Outlook: Mid-Summer Update. “The recession has combined with the credit freeze to create an unusually difficult environment for... Read more
Stevens sworn in as assistant HUD secretary and FHA commissioner
David Stevens has been sworn in as Assistant Secretary for Housing and Federal Housing Administration (FHA) Commissioner at the U.S. Department of Housing and Urban Development (HUD). Stevens was confirmed by the U.S. Senate on July 10,... Read more