The Latest

Bond market investors continue to drive down the benchmark 10-year Treasury yield, even after short-term rates were boosted 25 basis points on Wednesday.

Purchases of new single-family homes increased 1.1% to an annualized 640,000 pace after a 633,000 rate in January, government data showed Thursday.

Homebot acquired Quo Finance, a first-time home buying app.

The San Francisco bank said the move is designed to "foster closer alignment with the shareholder experience and signal commitment to the bank and all of its stakeholders." The company's stock price has fallen 89% this year, and government officials have reportedly been working with industry leaders on a rescue deal.

More banks were on the list and although United Wholesale led by dollar volume in fourth quarter earnings, its loan count for the full year remained lower than Rocket's, an analysis shows.

More hikes are likely as the Board is confident its bid to quell inflation won't deepen a nascent banking crisis.

Financial tightening stemming from two recent bank collapses has served as its own check on inflation, according to Federal Reserve Chair Jerome Powell. He said the relatively small rate hike announced Wednesday was not the result of financial stability concerns.

Excess returns on the bonds, which compares mortgage backed security performance to Treasuries, are -0.94% for March, on track for the worst relative performance since September.

And in January, all-cash buyers reached their highest share in nine years, at 32.1%, Redfin said.

As application volumes increased, loan sizes also surged, with average purchase amounts now at a 2023 high, according to the Mortgage Bankers Association.