CFPB: New Report Finds More Americans Are Paying Upfront Fees Seeking to Lower Interest Rates on Mortgages
“Discount points” have uncertain value for borrowers The Consumer Financial Protection Bureau (CFPB) issued a new report today finding that more borrowers paid “discount points” upfront as overall interest rates rose. The percentage of homebuyers paying discount points roughly doubled from 2021 to 2023. The increase was even greater among borrowers with lower credit scores. While…
CFPB: Report Identifies Financial and Privacy Risks to Consumers in Video Gaming Marketplaces
Growth in banking options and payments in gaming leaves consumers’ assets and personal data at risk Today, the Consumer Financial Protection Bureau (CFPB) issued a report examining the growth of financial transactions in online video games and virtual worlds. These platforms increasingly resemble traditional banking and payment systems that facilitate the storage and exchange of…
ABA: Bank Economists Forecast Recession Risks Decline as Inflation Continues to Moderate
The U.S. economy is progressing along a soft-landing path, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. Recession risks have diminished, inflation continues to moderate, and employment gains remain robust. A gentle easing cycle by the Federal Reserve will start around mid-year, facilitating trend-like GDP growth, according to the group….
Census Bureau: Business Ecosystem Technology Modernization Effort Announced
At the U.S. Census Bureau, we understand the critical role that technology talent plays in addressing our greatest mission challenges and advancing our capabilities to serve the evolving needs of today’s data users. Our commitment to excellence in data collection, analysis and dissemination requires us to continuously grow and develop our current technology teams, while…
FHFA: House Price Index Down 0.1 Percent in January 2024; Up 6.3 Percent from Last Year
U.S. house prices fell in January, down 0.1 percent from December, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 6.3 percent from January 2023 to January 2024. The previously reported 0.1 percent price increase in December remained unchanged. For the nine census divisions, seasonally adjusted monthly price changes from…
CFPB: 2023 HMDA Loan-Level Data on Mortgage Lending Now Available
The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2023 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for approximately 5,089 HMDA filers. The published data contain loan-level information filed by financial institutions and modified to protect consumer privacy. To increase public accessibility, the annual loan-level…
HUD and Census Bureau: New Residential Sales Report Released for February 2024
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for February 2024: New Home SalesSales of new single‐family houses in February 2024 were at a seasonally adjusted annual rate of 662,000, according to estimates released jointly today by the U.S. Census Bureau…
FHFA: Fourth Quarter 2023 Foreclosure Prevention and Refinance Report Released
More than 6.9 million troubled homeowners assisted during conservatorships The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2023 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 43,903 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped…
FHFA: Q4 2023 Uniform Appraisal Dataset Aggregate Statistics with New Variables Released
The Federal Housing Finance Agency (FHFA) today published its 2023 fourth-quarter data for the Uniform Appraisal Dataset (UAD) Aggregate Statistics. The Data File and Dashboards also include new property characteristics and a new statistic. “As FHFA works to deter appraisal bias, responsibly modernize the appraisal process, and address valuation challenges in rural areas, today’s dataset…
Census Bureau: Household Pulse Survey Phase 4.0 Monthly Data Released
The U.S. Census Bureau today released new data from phase 4.0 of the experimental Household Pulse Survey (HPS). The HPS is an effort by the Census Bureau and other federal statistical agencies to measure how emergent issues are impacting U.S. households from a social and economic perspective. Topics for phase 4.0 include employment status, spending, food security, housing,…