Mortgage applications slumped last week after the sharpest increase in borrowing costs since mid-2013, signaling tougher sledding for the housing market.
The Mortgage Bankers Association's
The Washington-based group's measure of purchase applications sank 6.2% to 197, while an index of refinancing slumped 10.9% to an almost eight-month low.
Financing costs have surged since the Nov. 8 election on speculation President-elect Donald Trump's pro-growth agenda will spark faster inflation.
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The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
