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Federal Reserve Gov. Adriana Kugler said tighter monetary policy has proved to be less impactful on nonbank lenders during the post-pandemic era.

Long-maturity Treasury yields tumbled Wednesday as part of a broader rally in dollar-denominated risk assets, after US President Donald Trump said he wasn't inclined to fire the head of the Federal Reserve and suggested tariffs on Chinese imports could drop.

Purchases of new single-family homes increased 7.4% in March to an annualized rate of 724,000, mostly driven by a surge in the South, according to government data released Wednesday.

The industry's largest servicer, which agreed at the end of the quarter to be acquired by Rocket, had a $82 million write-down due to shifting interest rates.

The US bond market is starting to get some relief, with long-maturity yields falling on Wednesday after Trump indicated a willingness to strike a trade deal with China.

US mortgage rates rose again last week, reaching the highest level since mid-February and further depressing the appetite to buy homes or refinance loans.

A federal judge has ordered a staff member of the Department of Government Efficiency and the Consumer Financial Protection Bureau's top lawyer to appear at an evidentiary hearing next week.

Chairman and CEO David Spector, in weighing Rocket Cos.' purchase of Mr. Cooper, suggested Pennymac's balanced business model couldn't be duplicated.

Don Layton, former Freddie Mac CEO, and self-proclaimed "GSEologist" predicts that a release of the two entities will occur within four to six years.