Republican presidential candidate Donald Trump has proposed a ban on undocumented immigrants obtaining home mortgages. This controversial proposal, aimed at addressing housing affordability concerns, has drawn criticism from advocates and experts who argue it will have minimal impact on home prices and unfairly targets immigrants.
The Federal Reserve is poised to reduce interest rates for the first time in over two years, marking a significant shift in monetary policy. This move is expected to affect consumer debt, savings, auto loans, and mortgages, with potential benefits for borrowers but challenges for savers. The rate cuts will also be influenced by economic indicators like inflation and employment, which have shown mixed signals recently.
Older homeowners are facing financial challenges as they grapple with rising costs and a changing housing market. Many have large mortgage balances despite owning their homes for years, and downsizing has become increasingly difficult. The situation is compounded by factors such as rising interest rates, property taxes, and insurance rates.
