Mortgage rates have been so low for so long that it's created a lock-in effect where people don't want to sell their homes to buy new ones for fear of losing their attractive rates. That's made it "almost impossible" for first-time homebuyers to enter the housing market, U.S. Treasury Secretary Janet Yellen said during her testimony before the House Ways and Means Committee. "With house prices having gone up and now with much higher interest and mortgage rates, it's almost impossible for first-t
An influx of Wall Street firms have spent recent years padding out their real estate portfolios with single-family homes to rent out but lawmakers want to put an end to the practice.
Wall Street went on a home-buying spree. Now, more lawmakers want to stop it from ever happening again by regulating investors' appetite for single-family homes.