FHFA issues annual report on activities supporting low-income housing

The Federal Housing Finance Agency is currently reviewing a possible deal with FICO to implement the FICO 10T credit scoring model for mortgages, according to a post on X by FHFA Director Bill Pulte.

Homebuilders continue to face weak demand despite offering attractive mortgage rates, indicating that lower interest rates alone won’t revive the housing market.

The rate for a 30-year fixed-rate mortgage was 6.22% this week, up from 6.17% last week. The rate for a 15-year fixed-rate mortgage was 5.50%, up from 5.41% last week.

ABA submitted a list of banker recommendations for the FHFA to include in its proposed strategic plan, including suggestions concerning supervision of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

During the third quarter, banks reported tighter lending standards for commercial and industrial loans to firms of all sizes and stronger demand for C&I loans from large and middle-market firms.

The rate for a 30-year fixed-rate mortgage was 6.17% this week. The rate for a 15-year fixed-rate mortgage was 5.41%.