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- FHFA’s Pulte orders Fannie, Freddie to consider crypto as mortgage asset
FHFA’s Pulte orders Fannie, Freddie to consider crypto as mortgage asset
Plus: How long it takes to save for a home in your state
🌅 Morning folks, happy Friday. Today's newsletter is 497 words, a 2-minute read.
Disclaimer: Average mortgage rates as of June 26, 2025. © MND Daily Rate Index.
1. FHFA’s Pulte orders Fannie, Freddie to consider crypto as mortgage asset
Federal Housing Finance Agency Director William Pulte told Fannie Mae and Freddie Mac to prepare their businesses for counting cryptocurrency as an asset on mortgage applications.
Pulte said in a social media post Wednesday the move was “in keeping with President Trump’s vision to make the United States the crypto capital of the world.” In his order, he said crypto is an emerging asset class that may offer an opportunity to build wealth outside of the stock and bond markets.
The two companies will have to prepare a proposal showing how they would review crypto as an asset without it being converted into U.S. dollars. They must also consider additional risk mitigants, including adjustments for market volatility.
2. How long it takes to save for a home in your state
A new study shows homeownership timelines vary widely by state, with Hawaii topping the list at nearly 29 years to save for a median-priced home. California follows at over 10 years, while Utah, Arizona, Georgia, and Oregon all exceed 7 years.
Source: Realtor.com
3. More Nuggets
🆕 CHLA urges Congress to narrow LO comp rule. (CHLA)
💼 Trump says three or four people on list to replace Fed’s Powell. (Politico)
📊 Mortgage applications increased 1.1 percent from one week earlier. Refinance +3%. Purchase -0.4%. (MBA)
📲 Guild LOs bombarded by recruiters after $1.3B deal news. (NMN)
⛓️ Former Freddie Mac employee arrested for alleged bomb threat. (Breitbart)
4. Top 10 metro areas with highest mortgage fraud risk
Mortgage application fraud risk increased by 7.3% over the last year, but it has remained steady since the end of 2024. The risk of fraud will potentially continue to rise in 2025, according to Cotality.
Above are the metro areas with the highest mortgage fraud risk.
5. Pending home sales rise 1.8% in May
Pending home sales increased 1.8% in May, according to the NAR. All four U.S. regions experienced month-over-month increases in transactions. Year-over-year, contract signings rose in the Midwest and South but dropped in the Northeast and West, with the West suffering the greatest loss.
The Pending Home Sales Index (PHSI) increased to 72.6 in May. Year-over-year, pending transactions rose by 1.1%. An index of 100 is equal to the level of contract activity in 2001.
"Consistent job gains and rising wages are modestly helping the housing market," said NAR chief economist Lawrence Yun. "Hourly wages are increasing faster than home prices. However, mortgage rate fluctuations are the primary driver of homebuying decisions and impact housing affordability more than wage gains."
A MESSAGE FROM MONEY
Only about 4% of U.S. pet owners have pet insurance
Pet care costs are rising, yet not enough people are doing something about it. Pet insurance can significantly offset rising costs – all for as low as $10 a month. Want to join the 4% club?
☀️ You’re all caught up. See you on Monday!
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