Burry shared an email from 2005 in which he listed multiple red flags in the US housing market, and also looked back at why he invested in GameStop.
Burry shared an email from 2005 that outlined his plan to short mortgage-backed securities, and called out two subprime lenders.
Rate hikes could force thousands of Australians out of their homes.
A ban on foreclosures is ending at the same time as that on evictions, but the White House rolled out new refinancing measures and other initiatives.
The Consumer Financial Protection Bureau released new rules to safeguard people from foreclosures as pandemic protections begin to expire.
Bank of America has lost dozens of salespeople from its mortgage unit after changes to job responsibilities, pay structure, and lending standards.
The Australian economy appears to have undergone an “impressive recovery” after hundreds of thousands of loan deferrals were finalised. New figures released by the Australian Banking Association (ABA) shows less than 5,000 loan deferrals remain outstanding across Australian businesses and households. With the figures timestamped to before the end of […]
A DC home received 88 offers in just four days, 15 offers were made sight unseen, and the home sold for $460,000. It highlights a wild housing market.
The average 30-year fixed mortgage rate fell to 2.67% from 2.71% this week, marking the fifteenth record low of 2020, according to Freddie Mac. The historically low borrowing costs continue to fuel a housing-market surge and establish the sector as one of the few bright spots in the ailing US […]
The average US 30-year fixed mortgage rate fell to 2.78% from 2.8%, marking the 12th record low this year. Rates are no is the lowest in Freddie Mac data going back nearly 50 years. Inexpensive loans have fuelled a powerful housing rally during the coronavirus pandemic. “Despite the uncertainty that […]
The coronavirus pandemic is not impacting Americans equally. Hispanic/Latino and Black Americans are feeling the economic consequences significantly more than white Americans, per a new survey conducted by the Harris Poll on behalf of the American Staffing Association. For example, 65% of Hispanic/Latino respondents are worried about making their mortgage/rent […]
The Reserve Bank of Australia (RBA) expects a wave of business failures is on the way for Australia. In its Financial Stability Report, the central bank said 10% to 15% of small businesses in hard-hit sectors will likely fail in the coming months. It also warned of rising mortgage and […]
Australia’s largest banks have put aside more than $7 billion in bad loan provisions related to COVID-19. With Australia holding some of the highest household debt in the world, a sudden and sharp recession is expected to diminish borrowers’ ability to repay their debts. So far, banks have frozen more […]
Consumer advocates have sounded the alarm over the Morrison government’s planned changes to wind back responsible lending laws. Some slammed it as “a short-sighted fix”, putting individuals at risk of becoming over-leveraged in a “flailing economy”. Others questioned whether the government had not learnt the lessons of the Hayne Royal […]
The federal government is loosening credit restrictions in an attempt to encourage lending. On Friday Treasurer Josh Frydenberg announced the responsible lending laws would be would back, having become “an overly prescriptive, complex, costly, one-size-fits-all regime”. There is some anxiety over the consequences of encouraging greater lending during a recession. […]
Australian banks will call around 450,000 customers in the coming weeks to reassess hundreds of billions of dollars worth of loan deferrals. With the initial deferral period to conclude at the end of September, customers will need to either start repayments again in full or in part, move to interest-only […]
Shares of recently IPO’d Rocket Companies surged as much as 9% on Friday after the company reported strong preliminary second quarter earnings results. The mortgage loan company likely benefited from low interest rates, which have led to a boom in refinances, and a rise in demand for homes amid the […]