Morning Minute: Looking for ways to open up mortgage lending

Two federal agencies, the Federal Housing Finance Agency and the Federal Housing Administration, are looking at possible reforms to encourage lenders to ease up on overly stringent mortgage underwriting requirements so more qualified consumers can get into homes. (The Daily Herald)

In other news:

Slower job growth in June; U.S. adds 80,000 jobs. (Chicago Sun-Times)

Mortgage rates hit new record lows. The average rate for a 30-year loan was 3.62 percent while a 15-year fell to 2.89 percent.  (USA Today)

 

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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