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Economists disagree on whether the latest numbers will mean the Fed will increase rates by 50 or 75 basis points.

In response, the company is looking to diversify its revenue stream.

But volumes are still at least 80% lower from a year ago, while mortgage applications overall came in flat.

The nation's capital leads in live-work-play rental construction while interest rates are pricing out young potential buyers from the market.

The new leaders named at the company highlight what appears to be some heavy recruiting from the ranks of executives who previously worked for a government-sponsored enterprise or a GSE joint venture.

A few studies released Tuesday add to expectations that the small number of mortgages remaining in forbearance will contribute to a higher foreclosure rate in the future.

The company is looking at the long-term picture, building business for 2023 and beyond, Chairman and CEO Mat Ishbia said.

Loan availability also took its steepest monthly dive since the first months of the coronavirus pandemic, with jumbo products falling off by more than 13%, according to the Mortgage Bankers Association.

The pandemic-era freeze on student debt payments has "dramatically" improved credit scores for Americans who borrowed money to pay for college, the Federal Reserve Bank of New York said.

It is a reversal of too little inventory that plagued the past two years.