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Washington, D.C. moves to bolster reverse mortgage foreclosure protections

The governing council of the nation’s capital, Washington, D.C. is taking steps to establish a permanent program seeking to protect its older residents with reverse mortgages from foreclosure. In mid-January, the D.C. council enacted the “Fairness and Stability in Housing Amendment Act of 2024,” which amends specific housing agency laws to allow for protections for…

Mortgage rates remain high due to labor market resilience

The labor market is showing signs of softness but is not breaking down yet, which has kept mortgage rates higher for longer. Since 2022, my guiding principle has been that the labor market is more important than inflation in determining mortgage rates. For those seeking lower mortgage rates, it’s more essential to see the labor…