As negotiations with a key senator stalled earlier this week, any final action on President Biden’s Build Back Better Act proposal will have to wait until next year. Also this week, MBA submitted comments to the Federal Housing Finance Agency in response to its notice of proposed rulemaking introducing additional public disclosure requirements in the regulatory capital framework applicable to Fannie Mae and Freddie Mac.
HUD and the Census Bureau reported November new single-family home sales jumped by 12.4 percent in October—but only after significantly revising down October numbers.
Good morning! As we prepare to take a break over the holidays, here’s a wrap-up of housing and economic reports that came across the MBA NewsLink desk this week:
According to the MBA Monthly Loan Monitoring Survey, the share of loans in forbearance dropped to 1.67 percent of servicers’ portfolio volume as of November 30, after climbing to a monthly peak of 8.53 percent in May 2020.
Initial claims for unemployment insurance held steady last week as employment—or lack thereof—went into a holding pattern for the holidays, the Labor Department reported Thursday.