Realtors Urge Regulators to Reconsider Narrow QRM Definition!
June 23, 2011 by Greg Saunders
Washington, DC, June 22, 2011
The National Association of Realtors® is urging regulators to go back to the drawing board on the proposed Qualified Residential Mortgage rule.
At a news conference on Capitol Hill today, the original sponsors of the QRM provision in the Dodd-Frank Act – Sens. Johnny Isakson (R-Ga.) and Kay Hagan (D-N.C.) – joined Reps. John Campbell (R-Calif.) and Brad Sherman (D-Calif.) to urge regulators to reconsider unnecessarily high down payment requirements under the proposed QRM rule.
Buyers Better Hurry…..Rates Reach New Lows!!!
June 2, 2011 by admin
For the sixth straight week, fixed mortgage rates inched down, reaching new lows for 2011. The 30-year fixed-rate mortgage averaged 4.60 percent this week while the 15-year mortgage averaged 3.78 percent, Freddie Mac reports in its weekly mortgage market survey.Meanwhile, the National Association of Home Builders reported this week that home affordability reached its highest level in 20 years, making the purchasing power for home buyers even better during this traditionally prime buying season.
Here’s a closer look at mortgage rates:
Greg Saunders
