Government

Sen. Kevin Cramer and Mark Warner have reintroduced a bipartisan bill to authorize remote online notarizations nationwide, allowing notaries and signers to complete the process from different physical locations.

According to Fannie Mae's Economic and Strategic Research Group expectations for Q1, the increase in the sales pace from the end of 2022 to the beginning of 2023 revealed that homebuying demand remains buoyant and was unexpectedly responsive to small declines in mortgage rates.

The MBA has filed an amicus brief arguing against lenders being held liable for the actions of independent appraisers in instances where bias is concerned.

Freddie Mac reports the 30-year fixed-rate mortgage took a turn upward this week, rising 12-basis points week-over-week as investors responded to more healthy economic indicators and an uptick in bond yields.

"As expected, the annual rate of increase in home prices has slowed dramatically in response to the rapid and significant increase in interest rates," said Doug Duncan, SVP and Chief Economist at Fannie Mae.

With more than 19 million voucher-eligible households in 2021 but fewer than two million vouchers available across the country's metro areas, Zillow notes that the program needs to be improved and better funded to help more of those in need.

To further the Biden Administration’s commitment to addressing the nation’s homelessness crisis, HUD has issued $2.8 billion in Continuum of Care Competition Awards for thousands of local homeless service and housing programs across the U.S.

“With the spring buying season underway, lenders are grappling with the threat of a recession and tighter overall financial conditions following the recent bank failures,” said Joel Kan, MBA’s VP and Deputy Chief Economist.

“Unsurprisingly, consumers also expressed apprehension about the direction of home prices,” said Mark Palim, Fannie Mae VP and Deputy Chief Economist.

Even as mortgage rates edge closer to the 6% mark, homebuyers nationwide are faced with the prospect of low inventory, with new listings having fallen 21.8% year-over-year nationwide.