MBA Opposes Proposed Rulemaking Implementing Basel III Endgame and Making Changes to Capital Requirements for Banks
The Mortgage Bankers Association strongly urged federal policymakers to vote against a proposed Notice of Proposed Rulemaking implementing the Basel III “endgame” rule, which is set for consideration on July 27. The rule is expected to impose a 15 to 20 percent increase in capital requirements for larger institutions.
Mortgage Application Payments Flat in June
Homebuyer affordability was essentially flat in June, with the national median payment applied for by purchase applicants decreasing 0.1% to $2,162 from $2,165 in May, the Mortgage Bankers Association reported.
Fed Raises Key Interest Rate by 25 Basis Points
The Federal Reserve’s Federal Open Market Committee increased short-term rates at its July meeting, responding to high but moderating inflation and a job market that remains quite strong.
