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Other investors could step into the breach as depositories depart, and the strain on nonconforming borrowers might not be that bad, recent forecasts suggest.

However, trackers from Optimal Blue and Zillow found that rates moved in line with the drop in the 10-year Treasury yield.

Federal Reserve Bank of Kansas City President Esther George said the central bank should raise its benchmark interest rate above 5% and hold it there well into 2024 to bring inflation down.

The change allows for more accessible financing options for a greater number of listings, but not all of those potential buyers qualify for conforming mortgages, Zillow said.

Difficult economic conditions will persist, with inflation and a potential recession weighing on minds, but investment in mortgage technology remains a priority, according to new survey research.

Minneapolis Federal Reserve Bank President Neel Kashkari compared the recent inflation to rideshare surge pricing, and called for a new approach to gauging and modeling price pressures.

Student borrowers in the U.S. are struggling to keep up with other kinds of debt even while college payments are frozen, and a surge in delinquencies is likely if the government's debt-relief plan fails, according to a new study.

Claims from a more recent storm that caused some overlapping property damage are also mounting, according to the Federal Emergency Management Agency.

Higher interest rates helped drive down refinances by 87% and purchases by 42% compared to last year.

The Consumer Financial Protection Bureau said it found deficiencies in how credit-reporting companies handle complaints about consumer data.