The Good Brigade | Digitalvision | Getty Images Despite being a hallmark of the American Dream, buying a home is less affordable for many these days. Higher mortgage rates and a shortage of houses on the market relative to demand have kept prices elevated and created a financial crunch for many would-be buyers. The median
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A business group filed a lawsuit Thursday challenging the constitutionality of a 2021 Texas law that punishes banks and other financial firms for “boycotting” the fossil fuel industry. The case, brought by the American Sustainable Business Council against Texas Comptroller Glenn Hegar and Attorney General Ken Paxton in federal court in Austin, claims the law
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The Colorado Legislature wrapped up a special session Thursday with the passage of a bill to circumvent property tax cut initiatives on the Nov. 5 ballot that troubled the state’s municipal bond market. House Bill 1001 incorporates a deal with Initiative 50 and 108 backers, who agreed to remove the measures from the ballot and
Shaunl | E+ | Getty Images Consumers in the market for a home have been patiently waiting for the Federal Reserve to cut interest rates — a move it seems poised to make in September. But without action from Congress, there could be another change at the end of that month that makes it temporarily
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Nebraska Gov. Jim Pillen last week signed into law a package of bills that includes caps on spending authority for local cities and counties. Their signing follows a concerted push by Pillen to pass property tax reform by calling a special session of the legislature on July 25. The governor’s plan originally was to secure
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Supporters of a national infrastructure bank — and a bill by Rep. Danny Davis, D-Ill., that would establish one — pitched the idea to dozens of delegates and other politicos last week at the Democratic National Convention, to build on what they say is growing momentum for the issue. Members of the National Infrastructure Bank
Mortgage rates fell last week for the fourth straight week, but neither current homeowners nor homebuyers seemed particularly impressed. Total mortgage application volume rose just 0.5% last week compared to the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances
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A class-action lawsuit filed Monday by Austin, Texas, property taxpayers against the city seeks the elimination of $187 million in property tax revenue allocated in the 2024 tax year for a light-rail project. The litigation is the latest salvo in a legal battle over the ability of the Austin Transit Partnership, a nonprofit corporation created
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The nation’s largest children’s hospital has hit a rough financial patch, leading to two bond rating downgrades and plans to cut nearly 1,000 jobs, while it eyes a return to the municipal bond market. Ratings for Houston-based Texas Children’s Hospital were cut one notch to AA-minus by Fitch Ratings in July and Aug. 19 by
A recent CreditNews Research study ranked the slowest-selling metro areas in the U.S. The Good Brigade | Digitalvision | Getty Images Even as mortgage interest rates were rising, home prices reached the highest level ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. On a three-month running average ended in June, prices nationally
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Municipals were steady Monday as U.S. Treasuries were slightly weaker and equities ended mixed. The two-year muni-to-Treasury ratio Monday was at 62%, the three-year at 65%, the five-year at 66%, the 10-year at 71% and the 30-year at 87%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read. ICE Data Services had the two-year
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Groundbreakings on public infrastructure projects jumped in July and are expected to accelerate later this year if the Federal Reserve begins to trim interest rates. That’s the latest update from Dodge Construction Network, which tracks construction projects across the nation from planning through groundbreaking. Its latest report highlighted a 19% increase in July from June
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