Marcia Fudge, secretary of the U.S. Department of Housing and Urban Development, announced today that she will resign from her position effective March 22. Deputy Secretary Adrianne Todman will serve as acting secretary following Fudge’s departure.
During a confirmation hearing, Bessent called for less regulation on banks and criticized credit card companies, although he stopped short of endorsing a campaign pledge by President-elect Trump to cap credit card interest rates at 10%.
A planned implementation of new credit score requirements for single-family loans acquired by Fannie Mae and Freddie has been paused in response to industry feedback, FHFA announced.
The rate for a 30-year fixed-rate mortgage was 7.04% this week. The rate for a 15-year fixed-rate mortgage was 6.27%.
President-election Trump nominated Bill Pulte as director of the Federal Housing Finance Agency. Pulte is CEO of private equity firm Pulte Capital Partners.
Builder confidence in the market for single-family homes in January was 47, up from 46 the previous month, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
Business inventories in November 2024 came in at $2.59 trillion, up 0.1% from the month prior and up 2.6% from a year ago, the Commerce Department said.
