{"id":59053,"date":"2024-10-02T03:03:10","date_gmt":"2024-10-02T01:03:10","guid":{"rendered":"https:\/\/housesmarketplace.com\/imb-summit-bob-broeksmit-mulls-election-impacts-on-mortgage-rates-regulations\/"},"modified":"2024-10-02T03:03:10","modified_gmt":"2024-10-02T01:03:10","slug":"imb-summit-bob-broeksmit-mulls-election-impacts-on-mortgage-rates-regulations","status":"publish","type":"post","link":"https:\/\/housesmarketplace.trio-tv.com\/ru\/imb-summit-bob-broeksmit-mulls-election-impacts-on-mortgage-rates-regulations\/","title":{"rendered":"\u0421\u0430\u043c\u043c\u0438\u0442 \u041c\u041c\u0411: \u0411\u043e\u0431 \u0411\u0440\u043e\u043a\u0441\u043c\u0438\u0442 \u043e\u0431\u0434\u0443\u043c\u044b\u0432\u0430\u0435\u0442 \u0432\u043b\u0438\u044f\u043d\u0438\u0435 \u0432\u044b\u0431\u043e\u0440\u043e\u0432 \u043d\u0430 \u0441\u0442\u0430\u0432\u043a\u0438 \u043f\u043e \u0438\u043f\u043e\u0442\u0435\u043a\u0435 \u0438 \u043f\u0440\u0430\u0432\u0438\u043b\u0430\u00a0"},"content":{"rendered":"
\n

Whichever candidate \u2014 Kamala Harris<\/a> or Donald Trump<\/a> \u2014 wins the 2024 presidential election will not have a significant impact on the path of interest rates, but they will bring changes to the mortgage industry from a regulatory standpoint, according to Mortgage Bankers Association<\/a><\/strong> (MBA) president and CEO Bob Broeksmit.<\/a>\u00a0<\/p>\n

\u201cNeither candidate is serious about fiscal discipline,\u201c Broeksmit said on Tuesday during HousingWire<\/strong>\u2019s IMB Summit in Dallas. \u201cWhy does that matter? Funding the deficit crowds out mortgage debt, because if we\u2019re going to run $1 trillion to $2 trillion of annual deficits, adding to the debt every year, that\u2019s a whole lot of debt buyers can\u2019t (use to) buy MBS [mortgage-backed securities] because they\u2019re going to buy Treasurys,\u201d Broeksmit said.\u00a0<\/p>\n

This trend, which Broeksmit does not see changing, will contribute to maintaining the spread between the 10-year Treasury and the 30-year mortgage rate. The spread is historically elevated, placing pressure on rates for home loans. The result? \u201cWe are not coming back to 4% mortgage rates\u201d anytime soon, he said.<\/p>\n

According to Broeksmit, the Federal Reserve<\/a><\/strong> will continue cutting rates, with the executive expecting a decrease of 100 basis points this year and roughly 100 bps more in 2025.\u00a0<\/p>\n

From a regulatory perspective, Broeksmit said that the 2024 \u201celections matter a lot\u201d and divide independent mortgage banks<\/a> into two groups. <\/p>\n

For \u201cIMBs that hate all the regulatory nonsense but have invested in a good compliance program,\u201d a Harris presidency \u201cis not the end of the world because the Democrats very much favor<\/a> the government-sponsored enterprises having a large percentage of volume.\u201d\u00a0<\/p>\n

Meanwhile, IMBs that worry about enforcement actions and can\u2019t stand all the regulations may believe the Trump administration<\/a> is better. But in this case, GSE reform would \u201cvery much be on the table,\u201d meaning that Fannie Mae<\/strong> and Freddie Mac<\/strong> could shrink or at least be returned to the private sector<\/a>.<\/p>\n

\u201cI\u2019m not telling anybody how to vote,\u201c Broeksmit said. \u201cI\u2019m just saying that there are different outcomes from different electoral outcomes, and it does very much matter to our industry in a way that perhaps when things were a little less polarized, it wouldn\u2019t matter.\u201d<\/p>\n

Political musings<\/h2>\n

Regarding the 2024 presidential race, Broeksmit said, \u201cDon\u2019t pay any attention to the national polls \u2014 they don\u2019t matter at all. If there were a huge difference, then you could sort of easily translate the difference into electoral college votes.\u201d<\/p>\n

According to him, due to the tremendous momentum after the Democratic National Convention, \u201cit\u2019s entirely likely that Vice President Harris will win the popular vote. The question simply becomes, how is it distributed and who wins the electoral vote?\u201d<\/p>\n

For an audience of mortgage professionals, Broeksmit said that the good news is \u201cpeople care about housing and housing finance, and it\u2019s a bipartisan issue.\u201d<\/p>\n

Another piece of positivity? \u201cAt least we\u2019re not in the news because everybody\u2019s going into foreclosure, right? I mean, when we made all those loans that didn\u2019t pay out, it was considered our fault, and of course, we deserve our share of the blame,\u201c he said. <\/p>\n

\u201cThis time, it\u2019s macroeconomic factors that we\u2019re all working creatively with all our borrowers to try to solve one by one, but we need some help from the government.\u201d<\/p>\n

Broeksmit said the main issue for the housing sector is on the supply side, so proposals to increase demand, such as providing down payment assistance<\/a>, will not help.\u00a0<\/p>\n

\u201cWe\u2019re not going to have $25,000 down payment assistance. I don\u2019t care who wins these elections; it\u2019s never going to get 60 votes in the Senate. \u2026 I also think it\u2019s a dumb idea,\u201d he said, adding that down payment programs already exist for homebuyers.\u00a0<\/p>\n

Regarding the supply side, he said, \u201cI don\u2019t want the government to subsidize builders for stuff they\u2019re going to build anyway\u201d But he also believes it\u2019s a good idea to support more affordable homes by eliminating red tape and costs through state and local government initiatives and federal tax benefits.\u00a0\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Whichever candidate \u2014 Kamala Harris or Donald Trump \u2014 wins the 2024 presidential election will not have a significant impact on the path of interest rates, but they will bring changes to the mortgage industry from a regulatory standpoint, according to Mortgage Bankers Association (MBA) president and CEO Bob Broeksmit.\u00a0 \u201cNeither candidate is serious about […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-59053","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nIMB Summit: Bob Broeksmit mulls election impacts on mortgage rates, regulations\u00a0 - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.trio-tv.com\/ru\/imb-summit-bob-broeksmit-mulls-election-impacts-on-mortgage-rates-regulations\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMB Summit: Bob Broeksmit mulls election impacts on mortgage rates, regulations\u00a0 - 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