The National Association of Home Builders (NAHB) and its chairman Ed Brady have just issued the following statement on Tuesday's national election results:
"The National Association of Home Builders congratulates Donald Trump on his election as the 45th President of the United States of America and all the lawmakers who were elected to the 115th Congress.
"When President-elect Trump takes the oath of office in January and the 115th Congress convenes, NAHB looks forward to working in a bipartisan manner with the incoming administration and Republican and Democratic congressional leaders to tackle critical issues facing the housing industry.
"Specifically, policymakers need to reform the regulatory process, ensure creditworthy home buyers and small businesses can get mortgages and loans, protect the mortgage interest deduction and expand the Low Income Housing Tax Credit. It is also essential to enact comprehensive housing finance reform that safeguards the 30-year mortgage. This pro-housing legislative and regulatory agenda will spur job growth and keep the housing and economic recovery moving forward."
The Federal Reserve cut its federal funds rate today by 25 basis points (bps) to a range of 2.0% to 2.25%. This cut represents a marked change in the direction of monetary policy in the first half of 2019.
Marking the one-year anniversary of the White House executive order on workforce development this week, Greg Ugalde, chairman of the National Association of Home Builders issued the following statement
Existing-home sales in the U.S. weakened in June 2019, as total sales saw a small decline after a previous month of gains. While two of the four major U.S. regions recorded minor sales jumps, the other two - the South and the West - experienced greater declines last month.
According to Freddie Mac's latest Primary Mortgage Market Survey, after declining for most of 2019, U.S. mortgage rates remained mostly unchanged this first week of July. The recent stabilization in mortgage rates reflects modestly improving U.S. economic data.
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