Aaron Kofsky, the acting deputy director of FHFA’s division of housing mission and goals, represented FHFA at a meeting of the Financial Stability Oversight Council Wednesday.
Brokers are increasing their production of non-qualified mortgages to keep up with rising demand, particularly from self-employed borrowers and real estate investors.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.58% in the week ending July 3, according to the MBA.
Some usually active issuers had no issuance in the second quarter, including Citigroup, Bayview Asset Management, Radian Mortgage Securities and Nomura Securities.