June 30, 2017
- The Senate’s Committee on Banking, Housing and Urban Development held a hearing with mortgage, housing, and finance leaders to learn their perspectives on housing finance reform. The committee is specifically looking to reform Fannie Mae and Freddie Mac. Furthermore the committee seeks to ensure the viability of “bond markets and 30-year fixed rate mortgage.“
- Surprisingly, Republicans are upset about the cost of housing due to the burden it causes amongst American families. Republican Jason Chaffetz, suggested his fellow Senators live using a $2500 per month housing stipend. He also added, “I flat-out cannot afford a mortgage in Utah…” Furthermore, in D.C. a family must earn 70,000 in order to afford a HUD Fair Market two-bedroom rental in Washington D.C. Hopefully, the Senate will find a solution to the nationwide burdened hiring costs.