Scott Turner, the secretary of the U.S. Department of Housing and Urban Development (HUD), which oversees the FHA, said in a statement that the rescissions are “bold, necessary and long overdue.”
FHFA Director Bill Pulte said a fired Freddie Mac employee who was arrested in March for threatening to blow up the Freddie Mac building has continued to contact him.
Realtor.com calculated the share of income a typical household spends on housing by dividing its estimated median monthly housing costs by the median household income in each of the 50 largest metros and the U.S. more broadly.