The Federal Housing Finance Agency announced today that Fannie Mae and Freddie Mac’s caps for multifamily lending will shrink to $35 billion each for 2018. The determination was based on the agency’s projection that the overall size of the multifamily finance market will be slightly smaller than in 2017. Multifamily loans in designated affordable and underserved segments will remain excluded from the caps, and FHFA will review the caps on a quarterly basis.
Survey requires private employers with 100 or more employees and federal contractors with 50 or more employees to submit data on employees’ gender, race and ethnicity annually to the EEOC.
The rate for a 30-year fixed-rate mortgage was 6.86% this week. The rate for a 15-year fixed-rate mortgage was 6.01%.
Existing home sales slid 0.5% in April to a seasonally adjusted annual rate of 4 million, the National Association of Realtors reported. Sales dropped 2% from a year ago.
The House narrowly passed a reconciliation budget package with several tax provisions supported by ABA. The legislation next heads to the Senate.
The House Financial Services Committee advanced nine bills supported by ABA, covering issues ranging from bank merger applications to regulatory tailoring.
A proposed amendment to add a credit card rate cap to an unrelated bill on stablecoin regulation would devastate credit access for millions of consumers and small businesses, the ABA and 52 state bankers associations said.
