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While expectations that another federal rate cut is on the way next week, other economic trends may be having a larger influence on mortgage lending.

A cohort of more than 100 Republican members of Congress sent a letter to Treasury Secretary Scott Bessent urging the administration to protect and fund a community lending program that has been gutted despite its legal mandate and Bessent's backing.

Contract closings increased 1.5% to an annual rate of 4.06 million in September, the highest in seven months, according to National Association of Realtors figures released Thursday.

Home loan players are diverting technology budgets to cover back-office operations, after big spending in a downcycle, counter to historical patterns.

Decreased homeowner equity corresponds to recent declining prices reported by leading housing researchers, but tappable amounts still sit near record highs.

In addition, John Roscoe and Brandon Hamara have been appointed co-presidents at the government-sponsored enterprise, effective immediately.

Forbearance or refinancing may help some, workarounds can keep many mainstream loans moving and one type of uncertainty does have an upside for rates.

While the Federal Open Market Committee has yet to meet this month, investor pricing of longer-term bonds helped mortgages by 11 basis points, Wallethub said.

While purchase volume is up 20% from last year, it was 5% lower than one week ago, although a 4% increase in refinance activity helped pick up the slack.

The Department of Justice has filed a motion opposing the Consumer Financial Protection Bureau employee union's appeal of an August D.C. Circuit ruling allowing the administration to fire up to 90% of the agency's workforce.