Bill to limit trigger leads passes in House; Fannie economists see higher interest rates; home prices decline in April; HUD on the move; FHFA directs GSEs to propose using cryptocurrency in calculations for mortgage applicant’s reserves.

Chase issued a similar deal in December.

Sales of new single-family homes declined by 13.7% on a monthly basis in May.

Rising home prices and property insurance premiums, elevated interest rates and other factors are placing financial burdens on homeowners and limiting homeownership opportunities.

The firms have issued three similar deals, beginning in early 2024.

At a hearing in the House, Powell reiterated that the Fed is waiting to see developments in tariff policies and the employment market before deciding whether to cut rates.

Economists at Fannie Mae project that the interest rate for a 30-year fixed-rate mortgage will average 6.5% during the fourth quarter of 2025.

Repurchases and indemnifications by banks and thrifts for residential mortgages declined by 16.3% on a quarterly basis in the first quarter of 2025.

The homebuyer must have a purchase mortgage from Rocket to be eligible.

Legislation to limit trigger leads passed the House and Senate with minor differences.