Buying a Home? Without the CFPB, You Need to Be Your Own Watchdog.
Published On Mar 7, 2025, 9:00 AM
The article discusses the current state of the home buying market as the spring season approaches. It highlights that, with home prices still high (averaging around $397,000) and mortgage rates above pre-pandemic levels, prospective buyers face challenges. Furthermore, the article notes the diminished oversight from the Consumer Financial Protection Bureau (CFPB), which used to protect consumers in the mortgage process. Without this federal oversight, consumers are advised to take caution when shopping for mortgages, as they may now be more susceptible to misleading practices by lenders. Home buyers are encouraged to actively compare mortgage rates and be wary of misinformation.
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The real estate market, particularly in terms of mortgage lending, may face a downturn due to the lack of regulatory oversight from the CFPB, which previously helped to protect buyers. With high prices and elevated rates, fewer people might enter the market, leading to potential declines in home sales and mortgage companies' valuations.
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