(RECAP: Federal Reserve Chair Janet Yellen said on Tuesday the U.S. central bank should proceed “cautiously” as it looks to raise interest rates, because inflation has not yet proven durable against the backdrop of looming global risks to the U.S economy. In her first comments since the Fed chose to hold rates steady two weeks ago, Yellen again pointed to threats to the world’s largest economy including low oil prices and concerns over China’s economy. “Developments abroad imply that meeting our objectives for employment and inflation will likely require a somewhat lower path for the federal funds rate than was anticipated in December,” when the Fed raised rates for the first time in a decade, Yellen said.)

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(RECAP: Earlier today, the USDA released a final rule establishing the underwriting standards that loans originated through the Single Family Housing Guaranteed Loan Program (SFHGLP) must meet to be considered “qualified mortgages.” Loans that do not meet these standards will no longer be eligible for insurance under SFHGLP as of April 28.
The definition of “qualified mortgage” set in the final rule is largely similar to the definition USDA initially proposed last year. The final rule includes an exemption from the rule’s requirements for loans originated through HFA programs. This means that all HFA loans will automatically be qualified mortgages under SFHGLP even if they do not meet the underwriting standards that would otherwise apply.)

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(RECAP: Even motorists cruising by on the Beltway cannot miss the eruption of glass and concrete taking place in Tysons. Aging edifices have been scrapped away and gleaming new buildings continue to sprout up all over – resulting in a radically altered skyline. About 7 million square feet of construction, including parks and playgrounds, will be delivered in the next six to 30 months. The appraised value of all property in Tysons went up by $1 billion, or 8.7 percent, in the last 12 months, giving a lift to Fairfax County’s coffers, said Michael Caplin, president of the Tysons Partnership. In 2014 and 2015, developers delivered six projects with 2.33 million square feet of space, including 1.44 million of residential, 848,000 of commercial and 45,000 of retail.)

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