California is on the verge of passing a bill that would provide state-supported home loans of up to $150,000 to undocumented immigrants. The bill, Assembly Bill 1840, aims to expand the California Dream for All program by removing immigration status as a barrier to homeownership. The bill has sparked intense debate, with supporters arguing for equal opportunities and critics raising concerns about affordability and potential economic repercussions.
Andromeda Sales and Distribution, India’s leading loan distribution network, witnessed remarkable growth in its loan disbursal business during the Financial Year (FY) 2023-24. The loans disbursal soared by over 23% to touch ₹75,397 crore. The home loan business surged to approximately ₹33,918 crore in FY24, up by over 22% from ₹27,798 crore in FY23. The Loan against Property distribution hovered around ₹24,776 crores, an increase of 10.33% from the preceding year’s ₹22,456 crores. Business loans experienced a notable surge of approximately 32%, rising from ₹5,255 crores in FY23 to ₹6,927 crores in FY24. Moreover, there was a substantial increase observed in the personal loan and other loan segments as well.
Despite mortgage rates rising above 7% for the first time this year, demand for home loans is increasing in Greater Boston. This is largely due to the area’s supply-demand dynamic, with limited inventory making it difficult for buyers to find homes they like. The lack of affordable housing combined with rising interest rates is prompting buyers to consider alternative options such as adjustable-rate mortgages and refinancing.
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