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The Latest Breaking News from First American

Why Jerome Powell’s latest rate cut still won’t help you get a lower mortgage rate

“Since this rate cut was no surprise, the markets have taken it in stride,” 43-year mortgage industry veteran Melissa Cohn told Fortune.

Fortune

The 'best time' to buy a home is right around the corner. Here's what you need to know

Buyers could start coming off of the sidelines in mid-October.

Fortune

The U.S. housing market is ‘finally starting to listen’ to homebuyers plagued by high mortgage rates and home prices, economist says

Mark Fleming’s analysis is based on First American’s Real House Price Index, which, unlike other home-price indexes, accounts for inflation.

Fortune

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First American Financial will shell out millions in severance to its former CEO after a cruise ship vacation brawl

The board of the $6 billion financial firm showed CEO Kenneth D. DeGiorgio the exit after he allegedly strangled a barefoot partygoer in Puerto Rico.

Fortune

Insurance giant First American confirms data breach affected thousands of users

Around 44,000 customers had data stolen in December 2023 ransomware attack.

TechRadar

US insurance giant First American confirms it was hit by a ransomware attack

Data was stolen and encrypted, First American confirms in a filing with the SEC.

TechRadar

The housing market is being haunted like Scrooge this holiday season as Fortune 500 chief economist sees 'housing market of Christmas past' settling in for 2024

Housing market of today mimics that of the 1980s, First American chief economist Mark Fleming says

Fortune

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Cyberattack forces First American to take some IT systems offline

First American announced a breach, but didn't give much else away.

TechRadar

The housing market is headed back to a 1980s-style recession, Wells Fargo says—and it's all because of 'higher for longer' mortgage rates

“The residential sector now appears to be contracting alongside the recent move higher in mortgage rates,” the bank’s economists wrote.

Fortune

The housing winter arrives early as existing-home sales crash to Great Recession levels and the long-feared ‘deep freeze’ sets in

Zillow warned in May that housing would enter a “deep freeze” if mortgage rates hit 8%. They came anyway—and existing home sales hit a 13-year low.

Fortune

It’s official: The housing market is turning millennials into their parents. A Fortune 500 economist says it’s a deja vu market that is replaying the 1980s

When the boomers came of homebuying age, they had to contend with high rates, high inflation, and a crowded market. Sound familiar?

Fortune

Buyers—and sellers—need to prepare for mortgage rates nearing 8% and staying there indefinitely says a prominent chief economist

First American’s Mark Fleming says mortgage rates could get closer to 8%.

Fortune

Fannie Mae's CEO says shopping for a house right now is downright Dickensian: A 'tale of 2 markets'

The “lock-in” effect is making the housing market unappealing for both buyers and sellers.

Fortune

Should you rent or buy? First American crunched the numbers

It’s currently better to rent than to own for potential first-time homebuyers in 47 of the 50 top U.S. markets, according to First American’s analysis.

Fortune

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Benzinga

Elon Musk's New Home Is In The 7th Priciest Housing Market In The Country

This article was originally published on Aug. 23, 2022.

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