Large banks press the most simple mortgage rules with the slowdown of the housing market

Large banks urge the Trump administration to simplify the regulations related Mortgage loan Construction, service and supply in the hope that these reforms may reduce costs and increase the lending activity in the faltering American housing market.

“In terms of mortgages, reducing unnecessary regulations would reduce the costs of home ownership,” Jpmorgan Chase (JpmCEO Jimmy Damon wrote in Annual shareholders ’speech.

“Simplification of the criteria for establishing the loan and service service, reducing capital requirements and simplifying the rules of supply would reduce the cost of real estate loans without making them more dangerous. These simple repairs can reduce the cost of real estate loans by 70-80 basis points.”

This batch for reform comes at a time when Jpmorgan’s mortgage volume decreased to $ 11.2 billion in the first quarter ending on March 31, a decrease from $ 14.2 billion in the fourth quarter of 2024. Meanwhile, home lending fell from the retail channel to 9.4 billion dollars from 12.1 billion dollars in the fourth quarter of 2024.

Other banks also hit a similar tone during recent collective calls after the quarterly profits.

Bank of America (PileCEO Brian Moinhan told investors during the company’s first profit call that he hopes to change with the new policy makers took office.

“It is extremely important to get this balance,” Mounehan said. “Sometimes the regulations object.” In Bank of America, the home lending contract is fixed at $ 254 billion in the first quarter, and it has not changed from the previous quarter.

Wales Vargo (WFCCEO Charles Sharif chanted the feelings of Damon, and analysts told the bank that the bank supports the administration’s boost. Scharf said that the proposed changes will allow “more loans, take more deposits, and provide more liquidity for the markets while maintaining strong regulatory control.”

The volume of mortgage in Wales Vargo decreased to $ 4.4 billion in the first quarter ending on March 31, a decrease of $ 5.9 billion in the previous quarter, confirming more downtime in housing financing activity.

Data of the National Association of Real Estate Bladesters showed homes sales, which is an indication of a forward guidance on home sales based on contract signatures, which grew by 2 % in February. However, suspended transactions decreased by 3.6 % on an annual basis, confirming the ongoing challenges in the housing market.

The average firm mortgage price for 30 years She stood 6.92 % from last weekNot far from the highest levels that have been seen over the past few years.

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