The Bureau of Labor Statistics released its latest Consumer Price Index reading Friday morning, showing inflation rose by 0.3% in September, slightly below August's pace. The report also found core inflation steady at 3.0%, even as shelter costs eased and gasoline prices spiked.
An index of applications for home purchases jumped 11.1%, the most since January, while a gauge of refinancing increased at a similar rate, according to Mortgage Bankers Association data released Wednesday.
The increase in refinance volume in July took place before the mortgage rate collapse in early August that brought the share to over 25%, Optimal Blue data showed.
A North Carolina homeowner says the large servicer's $6.75 fee for borrowers to make mortgage payments with a debit card violates a state debt collection law.
Treasury Secretary Scott Bessent said the Federal Reserve Board should reject the renomination of any regional Federal Reserve Bank presidents who have not lived in their districts for three years, signaling a potential confrontation when reappointments come before the board in February.
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Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
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The 30-year fixed-rate mortgage rose five basis points from last week to 6.22%, while the 15-year rate increased nine basis points to 5.50%
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UWM Holdings set a single-day record for rate locks in September at $4.8 billion, taking advantage of the window of opportunity leading up to the FOMC meeting.
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The Federal Reserve Board finalized changes to its supervisory rating framework, allowing large bank holding companies to be considered "well managed," even with one deficient rating.
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The company posted its best quarter for funded loan volume and shared other green shoots including greater margins on less reverse mortgage business.
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In markets across the US, homebuilders sitting on unsold inventory are subsidizing mortgage rates so heavily they sometimes match the record lows last seen during the Covid-19 pandemic.
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Homeowners are still paying very high insurance premiums for the life of their Federal Housing Administration loans to subsidize the operations of the HECM program.
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Mortgage servicers should be especially concerned by the rise in Telephone Consumer Protection Act lawsuits, which often hinge on whether consent to call borrowers exists or has been revoked.
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Potential first-time home buyers can save money for a down payment if they are able to use a special account just for that purpose.
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ON-DEMAND VIDEOMonetary policy remains the key to the markets. The Federal Open Market Committee predicts one rate cut in 2026, but the panel will get a lot of data before
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ON-DEMAND VIDEOWith the government reopened and data flowing, the FOMC may cut rates again in Dec. Steve Skancke, Chief Economic Advisor at Keel Point, will break down the mee
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ON-DEMAND VIDEOWill the Federal Reserve cut rates in October? BNP Paribas Chief U.S. Economist James Egelhof discusses the meeting and Chair Jerome Powell's press conference.
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