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Home purchase power increased by almost 7% annually in July as mortgage rates were at or near record lows.

Home and sales in metro Denver dropped by nearly a fifth in August from a record-setting July, but not because buyers pulled back. They had half as many homes to choose from this year than a year ago.

Mortgage rates remained relatively flat this week, as yields for the benchmark 10-year Treasury spiked at the start of the period before dropping, according to Freddie Mac.

Nearly half of the second-quarter volume came from its existing customers.

Northeastern Minnesota home sales have been on a tear this summer despite a relative scarcity of listings.

The agency’s plan to extend the "qualified mortgage" stamp of approval to more loans could help lenders that rely on alternative data and cushion the blow of other QM changes for Fannie Mae and Freddie Mac.

Mr. Cooper plans to hire an additional 2,000 employees by the end of this year as record low interest rates spur home purchases and mortgage refinancings.

But federal elections and the pandemic make projections on the sustainability of industry profitability especially tricky.

The pandemic drives home the point that without those funds being siphoned off, the recent fee hikes would not be necessary.

Inconsistent loan processing was a pain point for Remax's Motto Mortgage franchisees and the acquisition should solve that, executives said.