Government

The MBA reports that credit standards are becoming more restrictive, as its Mortgage Credit Availability Index drops to its lowest level since March of 2013.

The House Financial Services Committee will host a hybrid hearing focused on poverty in the nation’s colonias, discussing their housing and community development needs and challenges in these communities.

The Department of Housing & Urban Development encouraged aspiring buyers to “stay ready” during the virtual event and also launched a dedicated webpage to connect people to pathways to homeownership.

HUD funding granted to three awardees will assess the impact of the Emergency Rental Assistance program on people and communities, with a focus on housing stability and eviction outcomes.

New data from HUD revealed an 11% drop in Veteran homelessness from 2020, the largest decline in 5 years, representing an overall 55% reduction in Veterans experiencing homelessness since 2010.

At the end of the Federal Open Market Committee’s November meeting, Federal Reserve Chairman Jerome Powell indicated ongoing rate hikes will be necessary to tamp inflation down to the target rate of 2%.

While Fannie Mae experts predict prices to moderate in 2023, they note that housing supply issues will persist as inventory remains scarce, with effects felt mostly by low- and moderate-income families. Here are the latest findings.

HUD Secretary Marcia L. Fudge will host a virtual event geared toward young adults to help dispel common myths and barriers to buying a home in today’s market and how federal programs can help smooth the path to homeownership.

For the first time since April 2022, mortgage rates have surpassed the 7% mark, with many potential buyers now waiting to see where the market is headed, thus pushing home prices further downward.

“Dominant firms shouldn’t be able to hoard our personal data and appropriate the value to themselves,” said Consumer Financial Protection Bureau Director Rohit Chopra.