Fannie Mae Adds Multifamily Tenant Protections
Fannie Mae and Freddie Mac have jointly announced plans to add tenant protections for multifamily properties they finance beginning in 2025.
Rate Locks Ticking Up As Mortgage Rates Fall
As mortgage rates fall, prospective homebuyers have been locking in rates when looking for a home while current homeowners have been scouting out refinances at the highest rate in nearly two years.
Average Mortgage Rate Falls to Lowest Level in Over a Year
The average rate on a 30-year mortgage fell this week to its lowest level in more than a year, a welcome affordability boost for prospective home shoppers and homeowners looking to refinance their home loan to a lower rate.
Mortgage Rates Dip Below 7 Percent
The average rate on a 30-year mortgage dipped this week to just below 7 percent for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties.
Fannie, Freddie Economists Predict Only Small Uptick in Home Sales
The big mortgage rate drops that are helping the real estate industry ring in the new year shouldn’t be taken as a sign that home sellers will come out of the woodwork in 2024, the top economists at two mortgage market heavyweights say.
FHFA’s Federal Rent Control Proposal Would Be a Disaster
In its attempt to address the dire housing crisis, the Federal Housing Finance Agency is considering a policy that would surely make it worse and reduce the use of federal housing dollars.
Freddie Mac Launches Down Payment Aid Navigator for Lenders
Just as the salary needed to afford the median-priced home in Greater Boston jumped nearly 23 percent, the new tool is intended to match borrowers to down payment assistance programs.
Mortgage Rates Hit New 22-Year High
The average long-term mortgage rate climbed further above 7 percent this week to its highest level since 2001, another blow to would-be homebuyers.
Experts Believe Mortgage Rates Are Heading Modestly Lower
Rates are far from all-time highs, but it’s important to remember that as inflation cools, so might mortgage rates despite the Federal Reserve’s most recent interest rate decision.
Mortgage Rates Surged to Nearly 7 Percent This Week
Nonetheless, mortgage applications actually increased slightly from the prior week, driven by a rise in FHA and VA purchase applications.
Personnel File – No. 324
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s the latest edition of Banker & Tradesman’s Personnel File.
Fannie Mae ‘Moving Away’ from Appraisal Requirements
Saying it needs to modernize the way it values properties, Fannie Mae announced significant changes yesterday to the appraisal process for single-family mortgages it buys on the secondary market.
Average Mortgage Rates Inch Down Further
The average long-term U.S. mortgage rate declined for the fifth straight week, even as the Federal Reserve just raised its key borrowing rate for the seventh time this year and signaled there were more to come in 2023.
Mortgage Rates Dip for Third Week in a Row
The average long-term U.S. mortgage rate ticked down for the third week in a row and have fallen more than a half-point since hitting a 20-year high less than a month ago.
Freddie Mac Lets Borrowers Use Bank Account Data for Loan Underwriting
In a move it said would boost lower-income Americans’ ability to buy homes, Freddie Mac said it would start including a review of a prospective homebuyer’s bank account as part of its review of whether or not to purchase a loan from a lender.
Will FHFA Let Lenders Take Bite Out of Jumbo Market?
The mortgage market is in for another big shift in a few months. That’s when a sizable increase – roughly 12 percent or 13 percent – in the conforming loan limit appears likely to be announced.
Mortgage Rates Continue Their Upward Climb
Average long-term U.S. mortgage rates jumped again this week, hitting the highest levels in almost 14 years and pushing even more would-be buyers out of the market.
Mortgage Rates Bounce Up to Highest Level in Weeks
The average rate on a 30-year, fixed-rate mortgage has increased to the highest level since late June, according to Freddie Mac.
Mortgage Rates Under 5 Percent for First Time Since April
The average long-term U.S. mortgage rate fell below 5 percent for the first time in four months, days after the Federal Reserve jacked up its main borrowing rate in an aggressive effort to get inflation under control.
Personnel File – No. 296
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
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