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FHFA releases fair lending final rule

Housing Wire

The Federal Housing Finance Agency (FHFA) this week released its fair lending final rule, following up on a proposal made last year in alignment with plans first laid out in 2022 by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

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Mortgage industry excitement is subsiding about expected Fed rate cuts in 2024

Housing Wire

The so-called dot-plot estimates show the Fed might make one fewer rate cut in 2025 compared to its forecast in December 2023. As a result, the country is facing “a more anemic than normal spring homebuying season” in most major housing markets, Hepp noted. this year before declining to a range of 6% to 7% in 2025.

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6% mortgage rates are back (for select borrowers)

Housing Wire

After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. The mortgage rate dip is welcome news for the housing market, but loan originators and industry executives emphasized that rates need to decline further and remain stable to reinvigorate buyers’ demand.

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What would it take to crash the housing market?

Housing Wire

One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy. However, a cool-down in prices is not the same thing as a housing crash.

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Mortgage rates trend down amid lower monetary, fiscal pressures 

Housing Wire

Mortgage rates jumped last week amid a debt ceiling impasse and expectations of another federal funds rate hike. On the fiscal side, President Joe Biden and House Speaker Kevin McCarthy struck a deal on Saturday to suspend the $31.4 debt limit until January 2025 and cap government spending. trillion U.S. trillion U.S.

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Housing coalition publishes recommendations for GSEs’ ‘Duty to Serve’ plans

Housing Wire

The Underserved Mortgage Markets Coalition (UMMC), a coalition of 32 housing groups initially convened by the Lincoln Institute of Land Policy , published a report on Wednesday that recommended actions for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. mortgage finance system.

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How LOs, mortgage execs are preparing for 2024

Housing Wire

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

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