Government

"This decline in repeat borrowers is strongest along the U.S. coasts, where the housing crisis diminished borrowers’ abilities to retain or gain equity in their current homes, reducing their likelihood of selling their existing homes and purchasing new ones," the report stated.

"This should put to bed any doubts about whether the Fed will announce a rate increase later this month. Barring something completely out of left field between now and then, liftoff will commence with a quarter-point rate increase to the target federal funds rate." - Curt Long, Chief Economist for the National Association of Federal Credit Unions

Freddie Mac’s total mortgage portfolio expanded for the ninth straight month and for the 14th time in the last 16 months in October 2015, according to the Enterprise’s October 2015 Monthly Volume Summary released on Thursday.

The bill "suspends compensation packages approved for 2015 for the chief executive officers of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and any of their affiliates, and reinstates the compensation and benefits previously in effect," the statement said.

Rising home sales in seven of the Fed’s 12 districts—Boston, New York, Philadelphia, Cleveland, Richmond, Chicago, and Kansas City—were largely responsible for the Fed’s reports of moderate growth in housing markets.

Earlier this year, the nation's third-largest mortgage lender and the Department of Justice went back and forth in a legal battle accusing the lender of improperly originating and underwriting Federal Housing Administration-insured mortgages. This battle could very well be the lender's motivation to leave the government program alone for good.

The future of housing in America can seem so close, yet so far away, but government officials and housing experts are already hot on the case making their evaluations of the present state of the market and prediction on the future.

As 2016 lies just under one month away, the mortgage industry is already on top of what to expect in the coming year with predictions on what the housing sector may or may not bring.

Fannie Mae’s gross mortgage portfolio continued its rapid contraction in October by expanding for the seventh consecutive month in October and the eighth time in 10 months year-to-date in 2015, according to Fannie Mae's October 2015 Monthly Volume Summary.

The Justice Department recently announced a settlement agreement to resolve allegations that a Lowell, Massachusetts-based bank practiced discriminatory lending based on race and national origin.