Fannie Mae economists are forecasting two more quarter-point interest rate cuts by the Federal Reserve this year, expecting that the Fed will move to cut rates in September and again in December. That could bode well for lowering mortgage rates for the remainder of the year. Even though the Fed’s short-term interest rate does not have a direct effect on mortgage rates, it does tend to influence them.

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The National Association of REALTORS®, after reviewing the Department of Housing and Urban Development’s new condominium financing rules, says the guidance affords property owners greater flexibility in the qualification process for loans insured by the Federal Housing Administration. Lenders will be able to issue FHA loans for single condo units, and buildings with a greater number of investor-owned units or greater percentage of commercial space can qualify for FHA financing, among other changes HUD released Wednesday. NAR expects the new rules, which will go into effect Oct. 15, to revive a condo market that has been stifled since the Great Recession.

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