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Affordable Housing Initiative; New Home Sales Seen Rising; Rates Easing Toward Lows; Lenders are Happy

Affordable Housing Initiative; New Home Sales Seen Rising; Rates Easing Toward Lows; Lenders are Happy

The Mortgage Bankers Association (MBA) released its regular monthly estimates for new home sales on Thursday and also announced a new initiative to promote affordable housing. The initiative, to be headed by Steven O'Connor, MBA's Senior Vice President for Public Policy and Industry Relations, is intended "to help develop stronger and more effective affordable housing partnerships in both the policy and business arenas." The partnership in turn will hopefully "promote more sustainable, affordable homes for purchase and rental for underserved people and communities, especially minorities and low-to-moderate-income Americans." "Housing affordability is an issue facing millions of Americans, both those who rent and those who want to buy a home," said O'Connor. "There is no easy solution. The only
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