A record 93,000 single-family rental homes were constructed in 2023, with rental developers capitalizing on low levels of housing affordability. High home prices are forcing would-be homebuyers to continue renting. 99,000 new rental homes are...
Read MoreA recent Financial Times article highlights a prevalent dynamic in the U.S. mortgage market where borrowers have ‘locked-in’ lower interest rates on mortgages than are currently available within the market, making it unattractive to move. FT highlights a recent FHFA...
Read MoreThe Wall Street Journal writes on Freddie Mac’s recent proposal to purchase closed-end second mortgages noting the problems with allowing taxpayer-backed enterprises to enter this market. According to Bank of America research, if Fannie Mae were to...
Read MoreOn April 16, the FHFA announced a new product proposal for Freddie Mac to purchase closed-end second mortgages, aimed at offering borrowers more affordable options to leverage home equity than obtaining a cash-out refinance. The...
Read MoreThe Wall Street Journal reports that most Americans aged 60 and older are not planning to move from their current homes. Citing data from real estate firm Redfin, homeowners in this demographic own 28% of...
Read MoreFederal Reserve Chair Jerome Powell suggested on Tuesday that strong first-quarter inflation figures have prompted uncertainty regarding potential interest rate cuts beginning this summer. Powell stressed the necessity for additional data to bolster confidence in...
Read MoreIn March Fannie Mae introduced its first mortgage-backed securities (MBS) featuring Mission Index scores. The program, which is a progression from the Agency’s ‘social index’ launched in 2022, weighs certain characteristics of the bonds’ underlying...
Read MoreThe Fannie Mae pilot program from 2023, intended to eliminate title insurance on low-risk refinance transactions, was reintroduced during the State of the Union address on March 7. The initiative, which aims to reduce barriers...
Read MoreHarvard University’s Joint Center for Housing Studies released a report that puts the median single-family home sales price at 5.6 times higher than median household incomes. The price-to-income ratio, an indicator of home affordability, has...
Read MoreFannie Mae, Freddie Mac and the FHFA have finalized updates to their existing social bond frameworks, renaming them the Mission Index to offer investors ‘greater insight into mission-oriented lending activities’ within their mortgage-backed securities. The...
Read MoreIn a move that is intended to lower borrowing costs for homeowners, Fannie Mae plans to expand the acceptance of attorney-opinion letters as an alternative to title insurance. The Biden Administration has directed Fannie Mae...
Read MoreAccording to a recent Fannie Mae Home Price Sentiment Index survey released on January 8, consumer optimism increased 2.9 points in December to 67.2, illustrating consumers’ confidence for homebuying. According to the survey, this sentiment...
Read More
