Biden Administration pushes for extending eviction ban

Biden Administration pushes for extending eviction ban

Biden Administration pushes for extending eviction ban
At the urging of President Biden, the Federal Housing Finance Agency and the Federal Housing Administration both announced last week that they would be extending bans on evictions for borrowers with foreclosed homes.

“The pandemic continues to have an outsized impact on the ability of Americans to meet their monthly rent or mortgage payments,” said Sandra Thompson, FHFA’s acting director. “The eviction moratorium protects particularly vulnerable Americans who otherwise would be at risk of losing a place to live.”

Also last week, California Congresswoman Maxine Waters introduced a bill that would extend the moratorium through the end of the year. The proposal is expected to face strong opposition in the Senate.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 2.75 percent and 15-year rates are near 2.00 percent.

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