Doug Duncan, SVP and Chief Economist at Fannie Mae, comments on the most recent Mortgage Lender Sentiment Survey, which found that major lenders are working on cutting costs amid a tumultuous real estate market.
Read More »House Passes Measure to Modernize Remote Online Notarizations
Bipartisan House legislation seeks to modernize the notarization process, and will allow individuals stationed outside of the U.S. to securely notarize documents.
Read More »Lower-Income Households Forgoing Home Repairs
A study by the Joint Center for Housing Studies of Harvard University revealed that many cities offer repair assistance programs, but may be hampered by insufficient budgets.
Read More »Pending Home Sales Decline Nearly 9% From May
As escalating mortgage rates and housing prices impacted potential buyers, pending sales retreated in all four major regions, with the West experiencing the largest monthly decline.
Read More »Fed Announces 75 Basis Point Interest Rate Hike
On March 14-15, 2020, the Federal Reserve’s Federal Open Market Committee (FOMC) held an emergency meeting in light of the then-blossoming pandemic to cut rates by a 100 ...
Read More »New Treasury Department Measure Seeks to Boost Affordable Housing Supply
The U.S. Department of the Treasury has provided new guidance to increase investments in housing by utilizing American Rescue Plan funds to boost the nation’s supply of affordable options.
Read More »Mortgage App Volume Dips for Fourth Consecutive Week
The MBA reports that overall application volume is down yet again, with lingering economic uncertainty and affordability issues keeping prospective buyers on the sidelines.
Read More »Where Would a Recession Be Felt First?
It’s no secret that the pandemic threw a wrench in the housing market upending traditional moving and migration patterns as those with the means fled crowded urban areas ...
Read More »Fannie Mae Index Examines Refi App Activity
Fannie Mae’s new index provides two measures: volume of unpaid principal balance in dollars and a loan count. The RALI sources data from Fannie Mae’s Desktop Underwriter to show both the past week’s refinance application trends and prepayment projections.
Read More »The Black-White Affordability Gap for Renters Widened in 2020
New experimental data from the American Community Survey revealed that cost burdens rose the fastest among families headed by a Black person, as Black renter household rates increased an overall 3.5 percentage points, reaching 51% in 2020.
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