Morning Roundup (6/24/2024) — New Affordable Housing Efforts

Good Morning! Today is Monday, June 24. Gunmen attacked synagogues and churches in two cities in southern Russia. Israel bombed a U.N. compound near Gaza City. Explosions set a lithium battery factory on fire in South Korea, killing at least 16.

The Mortgage Note Reports

Yellen Speaks Today: Treasury Secretary Janet Yellen announces new efforts by the Treasury Department to increase the supply of affordable housing.

New Brokerage: A former Rocket Mortgage senior VP is launching his own brokerage, Zoom Home Lending, and plans to work with Rocket rival UWM.

In other mortgage and housing news…

GSE Update: The FHFA announced its conditional approval of a limited pilot for Freddie Mac to purchase single-family closed-end second mortgages.

Financial Strain: Though many Americans are betting on rate cuts from the Fed to afford a home, record-high federal debt may impact mortgage rates in the long term.

Facing Tough Challenges: LGBTQ+ people are less likely to own a home due to housing and employment discrimination. Here’s how real estate pros can help.

Move Over, Millennials: Gen Z is spending more on housing and car insurance than millennials did, and they’re more likely to be in debt, despite higher wages and more jobs.

True Or False: The New York Times fact-checked claims from both presidential candidates, including statements about interest rates, inflation, and jobs.