In November 2017, President Trump nominated Jerome Powell to serve as the Chair of the Federal Reserve (Fed), replacing then Fed Chair Janet Yellen. Learn how this political move can potentially impact you and your mortgage loan.
On December 22, 2017, President Trump signed the "Tax Cuts and Jobs Act." Changes will affect households differently, based on local home values and tax rates. But here is a generic breakdown of what current homeowners -- and those who are looking to buy or sell a home -- can expect.
The interest rates paid on borrowed money (and earned on certain bank accounts) are often tied to decisions made at Fed meetings. It’s been strongly suggested that one is coming in mid-December of this year. How will you be affected? Here's what you need to know.
Unveiled in 1944 as part of what became the G.I. Bill, VA loans make it easier for veterans and active duty service members to buy and stay in a home. Qualifying service members can choose to put no money down and pay no mortgage insurance, while rates tend to be at least a quarter-point lower than what's available in a conventional mortgage. Despite this, the majority of post-9/11 vets have yet to use the VA home loan.
In his first few hours on the job, President Donald J. Trump reversed a planned cut in the cost of government-backed Federal Housing Administration mortgages. Lobbying groups responded predictably, blasting the move. The outcry, however, obscures a crucial truth: the fundamental economics of FHA mortgages haven’t changed.