The Fed chair acknowledged that in principle, elevated term premiums — higher rates of return bond investors are demanding to compensate them for risk — could reduce the need for further rate hikes. Continue reading
In announcing the $9 million settlement with the Florida lender, Attorney General Merrick Garland said DOJ “currently has over two dozen active investigations into redlining, spanning neighborhoods across the country.” Continue reading
Policy change is intended to help more first-time homebuyers, seniors, and inter-generational families tap the wealth building potential of homeownership. Continue reading
Mortgage rates continued their relentless rise this week to levels not seen in two decades, fueled by a bear market for bonds that fund government borrowing and most home loans. Continue reading
In settling with state regulators, the Miami-based electronic payment processor is looking to close the books on a 2021 test that triggered $2.3 billion in erroneous mortgage payments. Continue reading
Fed’s “higher for longer” rate strategy could keep home sales from rebounding in 2024 or limit the strength of a recovery, according to two closely followed forecasts. Continue reading
The plan to move to a bi-merge process allowing lenders to use two, instead of three, credit reports was announced last October by Fannie and Freddie’s federal regulator. Continue reading
NAR united with lending groups on Thursday to urge the Federal Reserve to maintain its current mortgage holdings in order to narrow a wide “spread” between 10-year Treasurys and mortgage rates. Continue reading
Homebuyer demand for mortgages inched up slightly last week, as rates climbed to the highest level in more than two decades, according to the Mortgage Bankers Association’s weekly survey. Continue reading
Following Rocket’s lead, UWM and Guaranteed Rate say they’ll price mortgages of up to $750,000 as if they’re eligible for purchase by Fannie Mae and Freddie Mac in anticipation of expected 2024 increases. Continue reading