- The Wall Street Journal reports that according to a new study from the American Action Forum, the potential impact of three important mortgage regulations set to take effect next year could reduce lending by as much as 20% over the coming three years. It sites the Basel III agreement, the “qualified mortgage” “qualified residential mortgage” rules that are part of Dodd-Frank.
- Ally Financial Inc’s banking subsidiary on Friday is planning to sell much of its remaining mortgage portfolio which had $122 billion of mortgage loans in the third quarter of 2012. Its Residential Capital LLC mortgage unit filed for bankruptcy in May and the assets were bid on this week in a bankruptcy auction.
- Freddie Mac published its Primary Mortgage Market Survey. It shows that fixed mortgage rates are moving higher but remaining near their all-time lows The 30-year fixed-rate mortgage averaged 3.41%. Last year at this time, it averaged 4.10%.
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