October 12, 2023

Joint Letter on Mortgage Rates

We write to propose a solution that will reduce the historically high long-term mortgage rates relative to long-term Treasury bonds.

Housing accounts for nearly 20 percent of GDP and affects all homeowners, and renters, especially those in underserved and rural communities.

Action is critical to address homeownership affordability and lending challenges and reduce impediments for servicers to loss mitigation efforts to keep defaulted borrowers in their home.