Mortgage brokers, criticized for their role in the subprime-mortgage mess, are fighting new mortgage-lending rules aimed at preventing another debacle. The National Association of Mortgage Brokers, the industry’s main trade group, has sent alerts to its thousands of members urging them to tell their congressional representatives to oppose the financial-overhaul legislation pending in Congress.
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Mark Fleming, First American’s chief economist, said housing market potential climbed to the highest level since January 2018.
The lowest mortgage rates have ever been was around Thanksgiving 2012 when the interest rate for a 30-year fixed-rate mortgage fell to 3.31% (according to Freddie Mac data), but rising panic over the coronavirus could drive rates to lows never seen before. HW+ Premium Content