Items Tagged with 'Urban Institute'

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  • Buying a home earlier in life can seriously boost your financial picture in retirement

    Urban Institute highlights financial impact of delayed homeownership
    Burdened by student debt and less inclined to marry young, Millennials are putting off homeownership, waiting longer to buy a home than generations past. But a recent study by the Urban Institute reveals the financial impact of delaying homeownership, revealing that those who purchased in their younger years carry more wealth into retirement and suggesting that young adults "take into account the long-term consequences of renting when homeownership is an option."
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  • Urban Institute: Consider this policy data when voting today

    Study shows policy impact on low-income households
    A new study from the Urban Institute shows key policies and their results that Americans should consider before voting on Election Day 2018. The study examines three different programs including the Temporary Assistance for Needy Families, the Supplemental Nutrition Assistance Program and public health insurance, and their impact on low-income families.
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  • Mortgage credit availability reaches post-crisis high among GSEs, government lenders

    Lenders continue to increase risk as mortgage rates rise
    Mortgage lenders are opening access to credit as mortgage interest rates continue to rise. Overall, mortgage credit availability declined in the second quarter of 2018, however, the decrease was due to a market shift of more buyers moving to the portfolio channel in the second quarter, which has much tighter lending standards.
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  • First-time homebuyers dominate mortgage market

    Continue to outnumber repeat buyers
    First-time homebuyers may be facing rising affordability issues, but they are still outpacing the share of repeat buyers in the housing market. This is nothing new, as first-time homebuyers have dominated the mortgage market for the past 10 years, but the latest data from the Urban Institute shows that gap actually continues to grow.
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  • Lenders aren’t very interested in small-dollar mortgages

    Deny smaller mortgage at higher rates
    Applicants looking to get a small-dollar mortgage struggle to get approved, but it has nothing to do with their credit worthiness. The denial rate for mortgages up to $70,000 was 18% in 2017. This is about double the denial rate for loans of more than $150,000 that same year.
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  • Here are 5 reasons the Millennial homeownership rate is low

    Urban Institute breaks down the data
    For years, several factors have been tossed around such as high home prices, fear over the last housing crisis, delays in family formation and even student loans as reasons why the younger generation is holding out. But now, the Urban Institute released a study that shows the actual data behind these factors, revealing what is really holding Millennials back from homeownership.
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  • Genworth cuts its mortgage insurance rates

    Markets compete: FHA vs. PMI
    Genworth Mortgage Insurance announced Wednesday it is reducing its national monthly and single premium borrower-paid mortgage insurance rates. Here are the details on the new rates, and what it means for the mortgage insurance market.
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  • Lenders slowly easing credit standards, hits highest level since 2013

    Credit availability still historically low
    Lenders are slowly easing their credit standards as credit risk hit its highest level since 2013, according to the latest Housing Credit Availability Index from the Urban Institute. The increase in the fourth quarter was driven primarily by credit expansions within both government-sponsored enterprises and government channels thanks to higher interest rates and lower refinance volumes.
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  • Urban Institute calls out shortfalls in federal housing assistance

    Only 20% of those eligible for assistance receive it
    In a time when only one in five eligible renter households actually receive federal assistance, any reduction to federal funding for public housing or vouchers threatens the well-being of millions of low-income households, the Urban Institute claims in its new report. But the Urban Institute claims that despite the strong need, there are still “shortfalls” in federal housing assistance.
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