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Administration Unveils Plan to Cut Payments on Government-Backed Loans Up to 25%

Administration Unveils Plan to Cut Payments on Government-Backed Loans Up to 25%

The Biden administration has announced new loan modification options for borrowers who have government-backed home loans in order to help home owners who are still struggling to make their mortgage payments due to the COVID-19 pandemic.

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Top Canadian Official Tells NAHB Canada Seeks New Lumber Trade Deal

Filed in Advocacy, Housing Affordability, Material Costs by on July 22, 2021 1 Comment
Top Canadian Official Tells NAHB Canada Seeks New Lumber Trade Deal

Mary Ng, Canada’s top trade official, expressed a strong willingness and desire to engage in negotiations with the United States on a new softwood lumber trade agreement during a video conference meeting yesterday with NAHB CEO Jerry Howard and senior staff.

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Federal Reserve, FDIC and OCC to Develop Joint Community Reinvestment Act Rule

Filed in Advocacy, Housing Finance by on July 21, 2021 3 Comments
Federal Reserve, FDIC and OCC to Develop Joint Community Reinvestment Act Rule

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly announced that they will work together to modernize the regulations that implement the Community Reinvestment Act (CRA).

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Department of Energy: New Model Residential Energy Code Includes Increases in Efficiency Requirements

Filed in Codes and Standards by on July 21, 2021 1 Comment
Department of Energy: New Model Residential Energy Code Includes Increases in Efficiency Requirements

The Department of Energy today issued a positive determination that the 2021 International Energy Conservation Code contains new requirements that result in an incremental increase in energy efficiency in residential buildings.

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Led by OSB, Lumber Products Now Add Nearly $30K to the Price of a New Home, $92 to Rent

Led by OSB, Lumber Products Now Add Nearly $30K to the Price of a New Home, $92 to Rent

Changes in prices for softwood lumber products that occurred between April 17, 2020 and July 8, 2021 have added $29,833 to the price of an average new single-family home, and $9,990 to the market value of an average new multifamily home, according to NAHB’s latest estimates. The increase in multifamily value, in turn, translates to households paying $92 a month more to rent a new apartment.

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House Panel Votes to Increase HUD Funding by $6.8 Billion

Filed in Multifamily by on July 16, 2021 0 Comments
House Panel Votes to Increase HUD Funding by $6.8 Billion

The House Appropriations Committee today voted to approve $56.5 billion for the U.S. Department of Housing and Urban Development for fiscal year 2022, an increase of $6.8 billion above the fiscal year 2021 level.

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To Help Borrowers, FHFA Eliminates Adverse Market Refinance Fee

To Help Borrowers, FHFA Eliminates Adverse Market Refinance Fee

In a move to ease costs for borrowers who refinance, the Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries effective Aug. 1, 2021.

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OSB Prices Have Skyrocketed More than 500% Since January 2020

Filed in Advocacy, Housing Affordability, Material Costs by on July 15, 2021 0 Comments
OSB Prices Have Skyrocketed More than 500% Since January 2020

Framing lumber prices garnered more attention than any other building material over the past year as prices quadrupled between April 2020 and May 2021. But even as lumber prices decline, the spotlight on lumber continues to crowd out the story of meteoric price increases of another wood product integral to the integrity of a building’s structure — oriented strand board (OSB).

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Fed Chairman Expresses Hope Building Material Bottlenecks will be Alleviated

Filed in Advocacy, Housing Affordability, Material Costs by on July 14, 2021 0 Comments
Fed Chairman Expresses Hope Building Material Bottlenecks will be Alleviated

Federal Reserve Chairman Jerome Powell expressed hope that building material bottlenecks that have raised housing costs will begin to ease during a hearing today before the House Financial Services Committee on monetary policy and the state of the economy.

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NAHB Urges Congress to Enact Policies to Help Builders Boost Housing Production

Filed in Advocacy, Housing Affordability, Material Costs by on July 14, 2021 3 Comments
NAHB Urges Congress to Enact Policies to Help Builders Boost Housing Production

NAHB CEO Jerry Howard testified before Congress today and called on lawmakers to enact key policy proposals that will help home builders to expand the housing supply, reduce the housing deficit and improve housing affordability for all Americans. During a hearing before the House Ways and Means Subcommittee on Oversight on the topic of expanding housing access to all Americans, Howard noted that rising home prices, apartment rents and construction costs represent additional risks to housing affordability for prospective home buyers and renters.

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