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Optimal Blue: Rate-and-term refis soar 70% in August

Borrowers rushed to refinance in August as mortgage rates eased, pushing rate-and-term refi lock volume up 70% from July, according to Optimal Blue’s Mortgage Market Advantage report released Wednesday. “Borrowers are responding quickly to rate improvements, driving the strongest month for rate-and-term refinances we’ve seen this year,” Mike Vough, head of corporate strategy at Optimal

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Bipartisan House bill would strengthen HUD’s grip on manufactured housing standards

U.S. Reps. Mike Flood (R-Neb.) and Emanuel Cleaver (D-Mo.) introduced the Streamlining Manufactured Housing Standards Act on Wednesday, which clarifies that the U.S. Department of Housing and Urban Development (HUD) has the sole authority to establish energy efficiency and safety standards for manufactured housing. “America has been grappling with a housing crisis and cutting red

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