Government

Another Federal Open Market Committee Meeting, another rate hike. At the conclusion of the FOMC’s November Meeting, the Committee raised rates by 75 basis points, the fourth consecutive such hike and the sixth of 2022.

Owners of properties participating in multifamily-assisted housing programs can now apply for reimbursement of costs for property improvements and other measures taken to protect residents from pandemic-related issues.

The latest market report from Fannie Mae revealed a possible economic slowdown in coming months, which would reduce housing demand even further. Meanwhile experts predict prices and rents may stabilize or even fall in some markets within the new year.

“As home valuations are a vital component of the mortgage process, publishing transparent, aggregate data on appraisals provides useful information to the public while protecting borrowers’ personally identifiable information,” said FHFA Director Sandra L. Thompson.

In response to the additional stress on their balance sheets, some mortgage industry firms have announced layoffs, ceased specific products, or shuttered all together.

Technologies, including self-service capabilities via a user-friendly portal or a mobile app, are a modern expectation, as is digital paperwork with e-signatures.