The federal government remains on the brink of a partial shutdown. MBA remains directly engaged with lawmakers in both chambers of Congress--and affected regulators--and has created a member guide that outlines the potential impacts to single-family and multifamily government lending programs.

Homebuyer affordability declined in January, with the national median payment applied for by purchase applicants increasing to $2,134 from $2,055 in December. This is according to the MBA Purchase Applications Payment Index, which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey.

More than half of aspiring homeowners say the current cost of living is too high or their income is not high enough to afford a down payment and closing costs for a home (51% and 54% respectively), reported Bankrate, New York.