Found 4 blog entries tagged as Politics.

A ‘Mamdani Migration’ to Westchester County?

There’s been a surge of media hype around the idea that residents of New York City might flee following Zohran Mamdani’s victory. The speculation hasn’t just pointed to far-away destinations like Florida or the Carolinas, but also to nearby suburban hubs such as Westchester County, which could become an appealing landing zone for households looking to exit the city while remaining in the broader metro area. I looked into the polls that the media has been citing, and here’s what I found:

  • Victory Insights Poll (10/22 - 10/23)

    500 very likely NYC voters:

    • 26.5% would consider leaving NYC if Mamdani won.

    • 68.4% would stay.

    • …

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The Mortgage Rate Impact on the Summer Market

Mortgage rates are slowly trending downward at just the right time. As of this week, conforming loans sit at 6.75%, FHA loans at 6.27%, and jumbo loans at 6.85% — the lowest levels we’ve seen since early April. While these aren’t dramatic drops, they’re meaningful. Just a few months ago, rates hovered stubbornly above 7%. Now, as the summer buying season kicks into gear, buyers are starting to reengage. According to the Mortgage Bankers Association, mortgage applications ticked up 1.1% last week, early signs that buyers are taking notice.

  • Purchase Applications Up: Up 10% week-over-week and 16% higher than 2024.

  • Refinances Jump: Up 7% from the prior week…

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Congressional Housing Agendas

On his first day back in office, President Trump signed a memorandum addressing housing affordability as part of efforts to combat inflation and the cost-of-living crisis. Measures include reducing regulatory barriers, expanding housing supply, and streamlining federal housing policies. Here's what to watch:

  • Affordability Focus: Legislative proposals aim to streamline regulations and expand housing supply to address rising living costs.

  • ROAD to Housing Act: Introduced by Senate Banking Committee Chair Tim Scott, the act focuses on mortgage reforms, deregulation, and local incentives, alongside enhanced federal oversight.

  • Criticism: Opponents like Rep. Maxine Waters argue these…

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Trump’s Housing Agenda: Unclear

New Construction in White Plains

Donald Trump’s presidential win is already impacting the mortgage market. Concerns over tax changes and tariffs have fueled inflation fears and pushed up the 10-year Treasury yield, leading to higher mortgage rates. Analysts anticipate that Trump’s administration will encourage freer markets, reduced oversight, with potential plans to privatize Fannie Mae and Freddie Mac. The Mortgage Bankers Association has expressed optimism, expecting reduced regulatory burdens and lower costs for the mortgage industry over the next four years.

Ralph’s Take

There’s much to consider for housing under the new Trump administration, and with policy details still unfolding, mortgage rates are likely to…

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