23 Jul 2019
By RESCO Realty

The Community Reinvestment Act Explained In Simple Terms

Real Estate, ,
The federal government adopted the Housing and Community Development Act in 1977, and the Community Reinvestment Act (CRA) portion was designed to prompt lending institutions to provide mortgages for low- and moderate-income Americans. The underlying reasoning for the CRA was to discourage discriminatory lending practices that inhibited low-income communities and neighborhoods. Over the years, its regulations have been revised to improve effectiveness. During the early 1990s, upwards of five changes were made and more following the 2007 financial crisis. With the country currently in the midst of an economic comeback, the Office of the Comptroller of the Currency announced that…
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22 Jul 2019
By RESCO Realty

What’s Ahead For Mortgage Rates This Week – July 22nd, 2019

Financial Reports, ,
Last week's economic reporting included readings from the National Association of Home Builders Housing Market Index, Commerce Department reports on housing starts and building permits issued. The University of Michigan consumer sentiment index was also released. Weekly readings on mortgage rates and new jobless claims were also reported. NAHB: Builder Confidence Rises as Housing Starts Slip Home builder confidence in current market conditions rose one point to an index reading of 65 in June. Any reading over 50 means that most builders view housing markets conditions as positive, but July's reading was lower year-over-year. Builders have long cited a shortage…
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19 Jul 2019
By RESCO Realty

Pros And Cons Of Installing A Pet Door

Real Estate, ,
If you've just moved into your new home and you have a pet, you may be thinking of installing a pet door. A pet door is a permanent door feature that is cut into the bottom third of an entry door. Before making a permanent alteration to your door, consider the pros and cons of installing a pet door.  Pro: Your Pet Can Come And Go As Needed A pet door could cut down on indoor pet accidents if that's a problem you've had to deal with in the past. This is especially convenient if you get home late to…
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