Mortgage apps rise on expectations of Fed pause in rate hikes
It is hoped that federal Reserve This could be done with the increased rates in the mortgage market last week. “Mortgage applications responded positively to a drop in rates last week as the Fed raised a possible pause for the federal funds rate at the current level in anticipation of slowing inflation and tightening financial […]
Experts say upcoming data will guide future mortgage rate changes
federal Reserve confirmed on Wednesday that its next key federal funds rate hike would depend on incoming data. In turn, economists and housing industry experts have now turned their attention to the June meeting, as the decision will dictate the future movement of mortgage rates. Experts said the Fed’s move on Wednesday was expected and […]
PennyMac posts $30 million in Q1 profit
based in california Pennymac Financial Services Reported gains in its servicing portfolio that offset losses with its origination activity in the first quarter of 2023, allowing the company to deliver overall profitability over the period. However, PennyMac’s profitability dipped compared to the previous quarter amid a still challenging mortgage market. The company reported Thursday that […]
UWM moves to dismiss AML’s antitrust claim
composite wholesale mortgage (UWM) has proceeded to dismiss an amended counterclaim filed by BrokerShop America’s Moneyline (AML) who accuses the lender of antitrust practices Regarding the “ultimatum” put forward two years ago. UWM’s motion to dismiss, filed April 19 in Michigan federal court, states that the dispute is not an antitrust case, as AML claims. […]
WA zoning law changes will exempt some wealthier areas
A Washington state bill recently passed by both houses of the legislature would remove zoning restrictions on certain types of multifamily properties, called “moderate housing,” in areas zoned for single-family housing. The changes to the restrictions come amid a statewide housing supply shortfall. However, neighborhoods with associations or other “common interest communities” with legally binding […]
Annual home-price growth cooled further in February
Home price growth cooled further in February, falling to an annual rate of growth of 2.0% S&P CoreLogic Case-Shiller National Home Price Index, released on Tuesday. The annual growth rate in January was 3.7%. The national index came in at a reading of 293.17 in February. On a month-to-month basis, the index was up 0.2% […]
Karan Kaul plans to prioritize affordability for low-income buyers
rocket central New Vice President of Public Policy, Karan Kaul, plans to prioritize home ownership opportunities for first-time home buyers, families of color, and low- and middle-income families who have historically found it difficult to obtain mortgage loans Has gone. Thus, Rocket will continue to offer its special purpose credit programs that help first-time home […]
CFPB, DOJ warn AI advances are not an excuse to break the law
representatives of federal enforcement and regulatory agencies, including consumer financial protection bureau (CFPB), Department of Justice (DOJ), federal trade commission (FTC) and equal employment opportunity commission (EEOC) are warning that the emergence of artificial intelligence (AI) technology does not give license to break existing laws related to civil rights, fair competition, consumer protection and equal […]
New home sales rose 9.6% in March
New home sales registered another surge in March, rising 9.6% from February to a seasonally adjusted annual pace of 683,000 homes, according to data published Tuesday US Census Bureau And this Department of Housing and Urban Development (HUD). This is the fourth consecutive month of decline in new home sales. However, on a year-over-year basis, […]
What do economic trends mean for housing in 2023?
This article is part of our ongoing 2023 Housing Market Forecast Series. After this series ends, join us on May 30 for the next Housing Market Update event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, as well […]
