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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.
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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.
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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.