Industry Reacts To FHFA’s DTI Rule Change

Industry Reacts To FHFA’s DTI Rule Change

The Federal Housing Finance Agency has rescinded a rule changing upfront fees based on borrowers’ debt-to-income ratios. If it had gone through, the policy would have created an adjustment for DTIs higher than 40% that Fannie Mae and Freddie Mac would acquire. Back in March, the agency delayed the implementation of these fees to talk…

Leaders React To Mortgage Fee Changes As Debate Continues
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Leaders React To Mortgage Fee Changes As Debate Continues

By CHUCK GREEN Industry leaders and economists are sharing their opinions about changes to fees for loans backed by Fannie Mae and Freddie Mac after reports that homebuyers with good credit scores and substantial down payments will pay more so fees for borrowers limited by income or wealth can be reduced. The changes to the…

Rocket VP Of Public Policy: Goal Is To Reduce Barriers To Homeownership
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Rocket VP Of Public Policy: Goal Is To Reduce Barriers To Homeownership

By KIMBERLEY HAAS The new vice president of public policy at Rocket Central says his goal is to increase opportunities for people who have historically had difficulties achieving home ownership because of a host of barriers. Karan Kaul, a housing finance veteran who worked as a principal research associate in the Housing Finance Policy Center…

30-YR FRM Rose Last Week, 15-YR Declined

30-YR FRM Rose Last Week, 15-YR Declined

The 30-year FRM increased once again last week, blocking even more homebuyers from entering the market. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.43%, up from 6.39% the week prior. A year ago at this time, the 30-year FRM averaged 5.11%. The 15-year fixed-rate mortgage fell, however, down to 5.71%…

Rocket Mortgage EVP: Addressing Affordability Is A Top Priority
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Rocket Mortgage EVP: Addressing Affordability Is A Top Priority

By KIMBERLEY HAAS As the housing market moderates after a whirlwind pandemic ride, affordability continues to be a chief concern for consumers and mortgage providers are responding with a variety of programs to encourage potential buyers to get off the sidelines. Leaders at Rocket Mortgage say that a major hurdle on the path to homeownership…

Mortgage Fee Changes Under Fire As Critics Cite Fairness
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Mortgage Fee Changes Under Fire As Critics Cite Fairness

By KIMBERLEY HAAS Changes to fees for loans backed by Fannie Mae and Freddie Mac are under scrutiny after recent reports that homebuyers with good credit scores and substantial down payments will pay more starting May 1. Last week, The Washington Times published an article with the headline “Biden to hike payments for good-credit homebuyers…

Rates Rise, Breaking Five-Week Downward Streak

Rates Rise, Breaking Five-Week Downward Streak

Mortgage rates jumped last week, breaking a five-week streak of declines. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.39%, up from 6.27% the week prior. A year ago at this time, the 30-year FRM averaged 5.11%. The 15-year fixed-rate mortgage also rose, up to 5.76% from 5.54%. A year ago,…

Rates Fall For A Fifth Week
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Rates Fall For A Fifth Week

Mortgage rates ticked down again, the fifth straight week of declines. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.27%, down from 6.28% the week prior. A year ago at this time, the 30-year FRM averaged 5%. The 15-year fixed-rate mortgage fell from 5.64% to 5.54%. A year ago, it averaged…

Policy Memoir About Averting 2020 Mortgage Meltdown Published
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Policy Memoir About Averting 2020 Mortgage Meltdown Published

By PATRICK LAVERY A new book providing insider insight into how millions of Americans were provided mortgage and rental assistance in response to the COVID-19 pandemic has been released. “Shelter from the Storm: How a COVID Mortgage Meltdown Was Averted” is by Cato Institute Senior Advisor Mark Calabria who was, at the outset of the…

Mortgage Rates Declined Again, But Buyers Are Still Hesitant

Mortgage Rates Declined Again, But Buyers Are Still Hesitant

The average mortgage rate declined for another week, giving buyers planning to finance a home this spring a little more bang for their buck. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.28%, down from 6.32% the week prior. A year ago at this time, the 30-year FRM averaged 4.27%. The 15-year…

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