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New single-family home sales decreased 4.7% last month to an annualized rate of 716,000 after rising at the fastest pace since early 2022, government data showed Wednesday.

"A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5% in August," NAR Chief Economist Lawrence Yun said in a prepared statement.

Affordability improved for a fourth straight month, but questions remain about whether recent trends will bring a significant number of buyers into the housing market.

Mortgage bankers feared a proposal related to lenders' access to a major secondary market and related reporting was too harsh. They're eyeing a redraft closely.

Mortgage rates being at a two-year low has not moved potential buyers off the sidelines, Freddie Mac says, but Redfin says demand for home tours is up.

The nation's largest single-family landlord owns over 84,000 homes outright.

Both parties reached an undisclosed agreement to settle all litigation in mid-September.

CV3 Financial Services, started by long-time business purpose lending executive William Tessar, just celebrated one year in business and topping the $1 billion mark.

The program lapsing would've precluded mortgage applicants from closing on home loans without the required coverage in federally designated flood zones.

The changes will help servicers expedite submission of necessary forms needed in credit reporting disputes.