Fannie Mae chief executive Michael Williams suggested that the company’s new, tougher lending standards are here to stay. In a speech in Washington Wednesday, Williams trumpeted Fannie’s stronger book of business and described a “new realism” in the US housing market in which it takes longer to get a mortgage loan and a smaller share of people are able to become homeowners.
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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
In this week’s column, HousingWire Columnist Logan Mohtashami responds to presidential candidate Mike Bloomberg’s comments on the financial crisis, providing his own view on how the market crashed and how to keep it from ever happening again.