The midterm U.S. elections take place on Tuesday. Elections have consequences for the housing market, according to a new report from investment bank Cowen.
The package had earmarked billions in funds to construct, renovate, or purchase affordable public housing, Seiberg noted, which would help with rental housing. “It is hard to see how this gets past a GOP House,” he noted. The Trump administration had wanted to take Fannie and Freddie out of government conservatorship. But don’t expect that to happen anytime soon, Seiberg wrote, and regardless of who wins.
If the mortgage insurance premium rate is cut, that could save a homeowner thousands of dollars in one year if they’re purchasing a new home or refinancing.“President Biden already has his [Federal Housing Administration] commissioner and [Housing and Urban Development] secretary in place. It is why even a GOP sweep should not prevent Team Biden from cutting FHA premiums,” Seiberg said.
According to the Urban Institute, the QM rule was created by the CFPB that sets standards for lenders and investors, so that they can protect themselves from being sued by borrowers who claim that they were provided a loan that they couldn’t repay.
Nothing but ups and downs of emotion here.
Stop with the misinformation already!
Buying votes by printing money is how we got to 8% inflation. At 8.5% inflation, you work 12 months and only get paid for 11. The money printing politicians are impoverishing everyone who works for a living.
Lmao con artists know that mortgage purchases are at an all time low
Agent here. Buyers don’t need this!! They need rates to relax. In order for rates to relax they need inflation to relax. In order for inflation to relax. They need a common sense energy policy. They need to government to stop meddling with everything to “fix it”
This only makes housing more expensive…
Buying votes is cool again
Such a small price to pay to stop this administration!