While bankruptcy filings overall have been trending upwards during the first six months of the year, an uptick in individual Chapter 7 bankruptcy filings “underscores the growing financial pressure facing American households,” according to Michael Hunter, VP of Epiq AACER.
Fannie Mae’s latest Home Purchase Sentiment Index finds a growing number of respondents concerned about losing their jobs, with growing concerns about a possible tariff-induced recession impacting the housing market outlook.
“In some areas, affordability concerns have also slowed buyer demand, giving the market room to breathe and contributing to gains in homes for sale,” said Danielle Hale, Chief Economist at Realtor.com.
President Trump’s sweeping tax measure reinstates and make permanent the deductibility of mortgage insurance premiums, which, on average, saved qualified homeowners an average of $2,364 in tax year 2021, the last year it was previously available.
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