The midterm U.S. elections are coming. And elections have consequences for the housing market, according to a new report from investment bank Cowen.
The tax credit was, through a revision of the Internal Revenue Service tax code, to give first-time home buyers up to $15,000 in refundable federal tax credits. Democrats tried to pass the tax credit last year through a so-called reconciliation bill, Seiberg noted. But a new reconciliation bill is unlikely, he added.
Fannie and Freddie are federally backed home mortgage companies created by Congress. They buy and guarantee mortgages issued through lenders, like banks KBE and fintech firms. They then hold the mortgages or sell them as securities on the secondary market. Expect FHFA premiums to be cut Regardless of who wins, expect lower premiums for prospective mortgage borrowers, Seiberg said.
Chaos at the Consumer Financial Protection Bureau In mid-October, a federal appeals court said that the Consumer Financial Protection Bureau, a financial watchdog agency, was unconstitutional due to its funding.
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