FHFA Rescinding DTI-Based LLPAs

Ok, so finally some good news! The proposed LLPAs were nothing short of a “transfer of wealth” and would have made purchasing a home much more expensive for a large segment of home buyers and home owners here in the Phoenix Metro area.   Not sure what is coming next or what FHFA is going to do in the future, but stay tuned, they are on a specific course and I don’t think that this is the absolute end of it. But, we will applaud this, breathe a sigh of relief and help more people become home owners.

The current CPI numbers that came out this morning showed M/M readings on PAR with expectations and the previous month, Y/Y readings also met forecasts but showed a small drop in inflation which may help keep the Fed from continuing their path on rate increases. If you have buyers sitting on the sidelines waiting for a good time….. now might be it. With rates possibly cooling down, we could see the market start to get hot again.