March 24, 2017
- The United States Department of Housing and Urban Development (HUD) has released its new guidelines for the Section 108 loan of the Community Development Block Grant (CDBG) Program. The CDBG is a grant that provides financial resourcexs for large-scale real estate development projects, housing needs, and “financing for economic development.”
- Freddie Mac mortgage rates decreased despite a vote for a mortgage rate increase by the federal government. This is the greatest fall in mortgage rates within the past 60 days. The Freddie Mac rate is 4.23% which is down from the 4.31% rate of last month. Despite the decrease, the low rate of 3.71% at the end of the Obama administration has not been matched.
- Freddie Mac is helping borrowers without a credit score gain access to home loans. “The mortgage giant” will allow borrowers to use payment references and rent payment records to prove their history of timely payments.