The Latest

Not so long after Treasury bond yields experienced an unprecedented drop, the average 30-year mortgage rate rose, reflecting volatility related to the coronavirus as well as capacity issues on multiple levels.

The central bank has been under increasing pressure to act as investors have been losing faith in the Trump administration's efforts to contain the economic fallout.

Companies in the mortgage business were already focused on processing a lot of loans and generating efficiencies before the latest uptick in business hit.

Houston-area home sales experienced another double-digit gain in February as buyers came out in droves to take advantage of low mortgage rates.

Paradoxically, mortgage rates actually increased this past week, even as the 10-year Treasury yield plumbed new depths, likely because lenders are too busy to handle the influx of applications.

Bank of America cut its ratings and price targets on several homebuilders and building products companies as the firm is bracing for the "inevitable" coronavirus impact on the U.S. housing market.

JPMorgan Chase is planning to implement a staggered work-from-home plan for its New York-area employees to help slow the spread of the coronavirus. The plan applies to most corporate employees, but not to branch workers or traders.

Median prices for Maui homes sold last month moved modestly, but in opposite directions for single-family houses and condominiums, according to the Realtors Association of Maui.

Financial executives who visited the White House pledged to help small businesses and consumers get through any economic damage as the virus continues to spread. They also encouraged the government to support fiscal stimulus policies.

Financial institutions need to alert customers about emails or websites that pretend to offer important COVID-19 information but instead could end up stealing their account numbers or logins.