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Many Homeowners Don’t Understand How Their Escrow Account Works

Among homeowners who have a mortgage escrow account, only 52% fully understand how the account works, according to survey results released Thursday by property tax services provider LERETA. More than 80% of survey respondents said they know what an escrow account is and its primary purpose — to pay property

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Fannie Mae 2023 Financials Cap Off ‘successful’ Year, CEO Says

Government-sponsored enterprise Fannie Mae reported $77.4 billion in net worth at the end of 2023, including $17.4 billion in additional net income for the full year, according to its financial results report released on Thursday. The $77.4 billion figure marks a sharp increase from prior years — $60.3 billion in

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Kevin Sears, NAR Won’t Take On Any Presidential Initiatives

In an email to the board of directors on Wednesday, National Association of Realtors (NAR) President Kevin Sears announced that he and the trade organization would not be taking on any presidential initiatives throughout the duration of his term, as first reported by Inman News.  Sears stepped into the role

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mortgage-rates-edge-up-after-latest -inflation-reading

Mortgage Rates Edge Up After Latest  Inflation Reading

Mortgage rates climbed 13 basis points this week on the back of Tuesday’s strong inflation reading. The 30-year fixed-rate mortgage averaged 6.77% as of Feb. 15, an increase from last week’s figure of 6.64%, according to Freddie Mac’s Primary Mortgage Market Survey released on Thursday.  Meanwhile, the 15-year fixed rate

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