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A full recap of the Fed’s interest rate decision and Chair Jerome Powell’s press conference
Source: CNBC --- Federal Reserve Chairman Jerome Powell said he does see some froth in “equity markets” and other places, but sought to attribute the conditions to factors beyond the central bank’s accommodative policy.
FHFA releases new refi option for low-income borrowers
Source: Housing Wire --- Following an incredible year for refinances that mostly benefited wealthier borrowers, the Federal House Finance Agency announced it is implementing a new refi product that targets low-income borrowers with single-family mortgages backed by...
CFPB Delays Mandatory Compliance Date for General Qualified Mortgage Final Rule
Source: CFPB --- WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022. The CFPB is taking this action to help...
Time for a Renewed Focus on Planning and Local Municipal Codes.
Land use planning, development, and redevelopment is critical to the economic future of our cities and towns. The process and policies that help administer land use change applications are directly linked to the success and prosperity of our communities. A robust...
U.S. Housing Shortage Increases in March, Driving Prices Up 18 Percent
Source: The World Property Journal --- U.S. property broker Redfin is reporting this week that the median home-sale price increased 18% year over year to $344,625--an all-time high. Mortgage purchase applications increased 6% week over week (seasonally adjusted). For...
Will the Housing Market Maintain Its Momentum?
Source: Keeping Current Matters--- Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as...
