Government

Mortgage rates rose 18 basis points week-over-week according to Freddie Mac, forced upward by the trajectory of the 10-year Treasury yield, shifts in inflation, and the labor market.

The U.S. Department of Housing and Urban Development has announced a new slew of grants totaling $160.1 million to non-profit organizations across the country, supporting the development of new or the redevelopment of affordable multifamily rental housing. The grants can also be used to fund ongoing project-based rental assistance for low-income senior citizens.

A recent upward trend in Treasury yields has pushed mortgage rates above the 7.5% mark, further complicating the road to affordability for many as mortgage apps have dropped 6% week-over-week.

The Department has announced more than $30 million in grants that will support fair housing education, outreach, testing, and enforcement activities.

New Departmental grants will support crime prevention, the installation of carbon monoxide and smoke detectors, and fire alarms in 56 communities, enhancing safety and security for public housing residents.

As part of the Biden Administration’s strategy to counter antisemitism, HUD’s Office of Fair Housing and Equal Opportunity has joined seven other federal agencies to issue fact sheets on Title VI protections.

In its annual report on residential mortgage lending activity and trends, the Bureau found that mortgage lending fell in 2022 amid a significant rise in interest rates and discount points.

According to NRMLA, senior home equity rebounded in the second quarter of 2023, as housing wealth for U.S. homeowners aged 62 years and older rose by $820 billion in Q2.

Fannie Mae announced the unveiling of HomeView en Español, a new resource available to help Latino communities and further address the homeownership gap in America.

In a new report, the National Association of Realtors revealed what a government shutdown would mean for the real estate industry, including the closing of some federal housing, mortgage, and other programs nationwide.