Financial officers from 27 states issued a letter to President Joe Biden protesting a new policy from the Federal Housing Finance Agency (FHFA) that increases mortgage fees for some higher-credit borrowers while lowering them for more risky borrowers. This policy, which critics say will penalize people with good credit and encourage risky borrowing, went into…

Commentary Financial fears have grown as interest rates have risen and the shadow of recession has lengthened. Most worrying are what might be termed undefined risks. Declines in stock and bond market values, though troubling, are nonetheless quantifiable and well-defined. In contrast are the kinds of vague risks introduced by Washington’s mortgage giants, the Federal…

Mortgage rates rose above 7 percent for the first time in more than 20 years, as the American housing market continues to decline. Prior to March of this year, home-borrowing rates were on the way down after a 40-year low, before the Federal Reserve started to increase interest rates to combat out of control inflation….

Mortgage rates hit their highest levels in 20 years this week with the 30-year fixed-rate mortgage averaging near 6.92 percent—up from 6.66 percent the week prior, according to Freddie Mac’s Primary Mortgage Market Survey. It’s the highest average rate since April 2002. The 30-year fixed rate stood at about 3.05 percent one year ago. “We continue to…

U.S. mortgage rates fell for the second consecutive week after a rapid rise in June, the latest data from loan mortgage company Freddie Mac shows. The interest rate on a 30-year fixed-rate mortgage declined to 5.3 percent for the week ending July 6, down from 5.7 percent on June 29, according to Freddie Mac’s data. In the…

The battle waged by the Federal Reserve to curb inflation heightens mortgage costs, making homes less affordable for first-time buyers. The average rate on the popular 30-year fixed mortgage is now close to 6 percent, which is about double what it was at the beginning of the year. Consequently, the monthly mortgage payment for a typical home in the…

The battle waged by the Federal Reserve to curb inflation heightens mortgage costs, making homes less affordable for first-time buyers. The average rate on the popular 30-year fixed mortgage is now close to 6 percent, which is about double what it was at the beginning of the year. Consequently, the monthly mortgage payment for a typical home in the…

The housing and mortgage world witnessed rising rates, an upswing in application levels, and public feud between two major lenders. On The Mortgage Front Freddie Mac reported the 30-year fixed-rate mortgage averaged 5.27 percent, up from last week when it averaged 5.10 percent. The 15-year fixed-rate mortgage averaged 4.52 percent, up from last week when it…

WASHINGTON—The regulator overseeing housing giants Fannie Mae and Freddie Mac proposed on Wednesday changes to recently imposed capital and leverage requirements on the pair. The proposed rule from the Federal Housing Finance Agency would encourage the pair to shift more risk from taxpayers to private investors, while allowing them to support the housing market, the…

WASHINGTON—The U.S. Treasury Department said on Tuesday it had suspended changes to the government’s stake in housing giants Fannie Mae and Freddie Mac imposed in the final days of the Trump administration. Those changes are aimed at lifting curbs on the agencies’ ability to back certain types of mortgages, including on second homes, multifamily homes…