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FHFA Sets Transition To New Credit Models For Late 2025

The Federal Housing Finance Agency (FHFA) announced on Thursday that the transition to new credit score requirements is expected to occur in the fourth quarter of 2025, a decision commended by the mortgage industry.  That’s when the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac will acquire single-family loans based on the FICO 10T and VantageScore 4.0 credit

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New School Economist Calls For A ‘Gray New Deal’ For Retirees

Economics professor Teresa Ghilarducci of The New School in New York recently painted a dire picture of the retirement situation in the U.S., calling on policymakers to enact what she calls a “Gray New Deal,” recalling the economic relief and stimulus efforts of President Franklin D. Roosevelt implemented during the

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Mortgage Rates Flirt With 7% Mark Again

Mortgage rates continued to trend up this week and dampen homebuyer momentum. The 30-year fixed-rate mortgage averaged 6.94% as of Feb. 29, an increase from last week’s figure of 6.90%, according to Freddie Mac’s Primary Mortgage Market Survey released on Thursday.  Meanwhile, the 15-year fixed rate averaged 6.26% this week,

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Pending Home Sales Recede In January: NAR

January pending home sales leveled off after December’s surge but remained steady. The softening in sales was primarily a factor of wintry weather rather than declining demand, according to Bright MLS chief economist Lisa Sturtevant. Pending home sales dropped 4.9% month over month in January, according to the newest data

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