In the News

January 23:  Community Reinvestment Act, Bank Performance in Housing Lending & Investment in Broward County -Next Steps Workshop

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The Broward Housing Council will host the “Community Reinvestment Act, Bank Performance in Housing Lending and Investment in Broward County” Next Steps Workshop. The half day workshop will focus on the key recommendations identified in the report “Community Reinvestment Act, Bank Performance in Housing Lending & Investment in Broward County” prepared by Carras Community Investment Inc. and discuss processes and approaches for implementation. Register for the free workshop tinyurl.com/CRA-Workshop   

 


The Community Reinvestment Act (CRA), Bank Performance Evaluations

The 14 largest financial institutions (operating in Broward County) were eval​uated for their CRA performance nationally and in Broward County and were given ratings from Low Satisfactory to Outstanding. The CRA ratings are gathered from CRA Performance Evaluation Reports published as of September 2013 (at which time the study's research was completed) and the ratings and reports are listed on our website​ for easy reference.​

 


"Owning a Home" a Tool for Prospective Homebuyers

CFPB 

The Consumer Financial Protection Bureau (CFPB) created the online educational portal "Owning a Home" to provide information about the many facets of the home buying process.  Topics include the preliminary stages of buying a home, understanding loan options, comparing interest rates, and closing information, including explainations of all closing documents. 

 


Renting Versus Buying

map created by RealtyTrac 

RealtyTrac released a study analizing 2015 U.S. fair market rents and median home prices and concluded that on average, buying a home is more affordable than renting. Broward County ranks number six of the nation’s least affordable rental markets; the standard cost to purchase a home is 24 percent of median household income and 43 percent to rent. Other findings show that in 25 counties which have experienced the highest increase of millennial population (those born between 1977 and 1992) purchasing a home on average is 36 percent of household income and renting is 30 percent. Millennial-popular cities include San Francisco, CA, Okaloosa County, FL and District of Columbia, DC. More…

 


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