Newsbytes

Existing-Home Sales Fell in April

Existing-home sales decreased 2.3% to a seasonally adjusted annual rate of 5.57 million in April, according to the National Association of Realtors (NAR). Despite the decline, sales are still at the fourth highest pace over the last year. “Last month’s dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, ...

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ABA Submits Recommendations for Housing Finance Reform

As part of the banking industry’s continuing response to President Trump’s executive order outlining “core principles” for financial regulation, ABA submitted two white papers to the Treasury Department today with recommendations for reforming current mortgage lending rules and regulations and the government-sponsored enterprises Fannie Mae and Freddie Mac.

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New Home Sales Decreased in April

New single-family home sales rose to a seasonally adjusted annual rate of 569,000 in April, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The April level was 11.4% below the revised March rate of 642,000 but 0.5% above the April 2016 level. Sales fell in each region, 7.5% in the Northeast, 26.3% in the ...

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Acosta: No Additional Delay for Fiduciary Rule

Labor Secretary Alexander Acosta today announced that the Department of Labor will not delay the June 9 effective date for the fiduciary rule, which greatly expanded the definition of who counts as a “fiduciary” under the Employee Retirement Income Security Act and the Internal Revenue Code.

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