PIMCO’s Gross Sees Government Backing of Mortgages Undesirable but Necessary

Monthly mortgage payments can not exceed 25-30% of the borrower’s monthly gross (before tax) income and the borrower’s total monthly installment loan payments (including the mortgage payments) cannot exceed 33-38% of monthly gross income. maximum amount you can borrow. standard in the industry

Fannie Mae and Freddie Mac began reducing the qualification requirements for government-backed “conforming” mortgages, starting with reducing the down payment requirement from 5% to 3%. For the next three years, the government continued to lower this bar to expand the pool of potential homebuyers and reduce the monthly payment burden.

 · The bond market is bracing for change in 2018. With a backdrop of a handful of expected interest-rate hikes from the Federal Reserve Board of Governors, this.

Fixed mortgage rates hold steady as political, economic concerns fester Fixed mortgage rates hold steady as political, economic concerns fester stacy magee contents fixed-rate mortgage rate Increase federal funds rate 3-day trading range surrounding Trading range surrounding Concerns fester; realtytrac: foreclosure Qm;.FHA clarifies certification requirements to streamline HECM lending But while easier fha condo. act that would streamline FHA condo certification requirements to make mortgage financing less burdensome, and in turn, would increase FHA financing access for more.

Restoring the Boundaries. Congress has mandated the goals of monetary policy to promote price stability, maximum employment, and moderate long-term interest rates. Asking monetary policy to take on ever more fiscal responsibilities undermines the discipline of the fiscal authorities and the independence of the central bank.

Generally speaking, when we consider the ‘weak dollar’ we must remember, it used to be made ‘weak’ by the US government holding secret meetings with our trade partners, usually Germany and Japan, and begging them to raise the value of the dollar. We didn’t do this just once, we had to do it several times during the Cold War.

Most states stand to see increased revenue due to federal tax reform. State and local individual income taxes account for 23.5 percent of state and local government tax collections nationwide,