Mortgage rates largely unchanged from last week despite pressure on Fed independence
The 30-year fixed mortgage rate averaged 6.56% for the week ending August 28, just slightly lower than last week's 10-month low of 6.58%, according to data released Thursday by Freddie Mac. The relatively muted move in rates comes against the backdrop of a legal clash between President Donald Trump and Fed Governor Lisa Cook. Some worry the fight could not only jeopardize the Fed's political independence but may also lead to higher mortgage rates in the future.
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TX Lawmakers target 'deed fraud' with new legislation to fight home title theft
Home title theft is a growing crime where crooks file real documents with fake information to get your home signed over to them. It is a crime that some law enforcement won't investigate, calling it a civil matter. But three new pieces of legislation were carried out by State Senator Royce West and State Rep. Rafael Anchia strengthens protections around deed fraud and makes it clear it is a criminal offense. Anchia touted a series of bills called deep fraud protection, designed to try and stop theft of homes and property through the filing of fraudulent deeds.
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Today's podcast episode: A Deep Dive into the Fight for the CFPB's Survival
We recently wrote about the August 15th D.C. Circuit Court of Appeals decision in the lawsuit brought by the labor unions representing CFPB employees against Acting Director Russell Vought. The unions sought injunctive relief in response to what they described as an attempted "shutdown" of the Bureau.
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CA Court: Failure to Investigate Potential Bases for Coverage Outside the Pleadings Can Constitute Bad Faith
In the recently published case Bartel v. Chicago Title Insurance Company, a California appellate court reaffirmed longstanding California law on insurers' broad duty to defend even in the face of complicated underlying facts, finding that failure to investigate all potential avenues for coverage amounted to bad faith as a matter of law.
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Powell hints at potential interest rate cuts. What that means for homeowners hoping to refinance
Federal Reserve Chair Jerome Powell hinted at possible interest rate cuts in the near future during a speech on Friday at the central bank's annual event in Jackson Hole, Wyoming. "The shifting balance of risks may warrant adjusting our policy stance," Powell said. That may bode well for homeowners who have been hoping to refinance mortgages with high rates, experts say.
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