Government

As mortgage rates drive upward for the sixth consecutive week, overall application volume fell after a week of rebounding, falling to levels last seen 28 years ago.

NAR, along with the Independent Community Bankers of America and Community Home Lenders of America, have issued a joint proposal to the FHFA, the White House, the Treasury Department, and the Federal Reserve Board, designed to help ease mortgage affordability. Here’s what they propose.

From 2018-2022, the GSE has invested more than $3 billion to expand affordable housing supply and meet critical housing needs in underserved communities through Low-Income Housing Tax Credit equity investments. Here’s how those investments are paying off.

According to a new report from Fannie Mae, a deceleration in home prices is likely in 2024, with economic growth projected to slow.

The new ADU policy will expand financing options for borrowers to bolster the supply of affordable housing and assist families in creating generational wealth.

The Department issues federal funds to support efforts community-driven efforts nationwide to end youth homelessness, and improve outcomes through secure, stable, and supportive housing.

The MBA reports that lenders nationwide marginally increased their loan offerings to meet the changing needs of borrowers in the face of ongoing mortgage rates above the 7% mark.

“The Biden-Harris Administration and HUD are committed to building and preserving more housing, supporting small businesses, and strengthening communities,” said Secretary Marcia L. Fudge. “This loan guarantee will support projects in Nebraska and California that will transform their economies and communities.”

Businesses are increasingly leveraging digital technologies to reduce errors and costs, speed up transactions, and drive enhanced and better customer service, according to Peter Ghavami, the VP of Modeling and Data Sciences for Fannie Mae.

The Federal Home Loan Bank of San Francisco has released a package of recommendations for updating the housing ecosystem to close the racial homeownership and wealth gaps.