Government

An upcoming Senate Banking Committee hearing will examine the nation’s housing space, as rates continue to drop and buyers are re-entering the fray.

“Mortgage rates inched down again, with the 30-year fixed-rate down nearly a full point from November, when it peaked at just over 7%,” said Sam Khater, Freddie Mac’s Chief Economist.

U.S. Department of Housing and Urban Development has announced nearly $315 million in grants to 46 communities across the nation to address unsheltered and rural homelessness.

The Federal Open Market Committee moved to raise the nominal interest rate by 25 points to a range of 4.50-4.75% at the end of its February meeting.

Pandemic-era loss mitigation plans have been expanded and extended by the FHA going forward. Click through to find out what that means for borrowers and servicers alike.

A new Veterans United Home Loans survey revealed that high home prices are among the top reasons that impact the decision to buy a new home among service members and Veterans. However, many remain optimistic about homebuying in 2023 despite ongoing affordability challenges.

Through this latest agreement, the Justice Department’s Combating Redlining Initiative has secured more than $75 million dollars in relief for communities that have suffered from lending discrimination.

“This proposed rule is a major step towards fulfilling the law's full promise and advancing our legal, ethical, and moral charge to provide equitable access to opportunity for all,” said Marcia L. Fudge, Secretary of Housing and Urban Development.

The National Reverse Mortgage Lenders Association and RiskSpan Reverse Mortgage Market Index hit a record high of 413.22, while senior housing wealth grew by nearly $226 billion in Q3 of 2022.

Fannie Mae has selected five proposals to help advance racial equity in housing through the $5 Million Innovation Challenge, designed to assist in finding solutions to remove barriers in the home renting and homebuying experience.