(Washington, D.C.) – The Community Home Lenders of America (CHLA) applauds the Federal Reserve for cutting interest rates by 50 basis points.
“Today’s interest rate cuts are critical in creating a more affordable housing environment, particularly for first-time and low-to moderate-income homebuyers,” said Scott Olson, executive director of CHLA.”
Last October, CHLA and other trade groups sent a letter to the Department of Treasury urging the Fed to reduce interest rates and the historically wide spread between 30-year mortgage rates and 10-year treasuries.