Personal income increased 0.3%, or $65.3 billion, in April, the Commerce Department said today. The personal savings rate—a percentage of disposable personal income—was 3.6%. Meanwhile, personal consumption expenditures increased 0.2%, or $39.1 billion.
HUD rescinds several regulatory requirements for FHA-backed mortgages
In a move intended to reduce the cost of homeownership and eliminate unnecessary burden, HUD recently rescinded more than a dozen regulatory requirements in FHA's single-family mortgage insurance program.