Freddie Mac

The steady pace of refinance activity has also continued, as borrowers seek to take advantage of sub-3% rates.

DeVito takes over on June 1, replacing interim CEO Mark Grier, who returns to his seat on the government-sponsored agency's board.

A week of light data could possibly lead to further mortgage-rate volatility ahead depending on what monetary officials say in the coming days.

Inflation concerns may reverse the trend that has seen the 30-year rate decline six out of the last seven weeks.

Promising jobs numbers and favorable economic data are an encouraging sign for the post-pandemic future, but rising interest rates are sure to follow.

Only $89 billion of the $362 billion in new single-family volume came from purchase mortgages.

After two straight months on an upward trajectory, rising interest rates pushed homebuyer demand down to a third of where it stood at the start of 2021, according to Freddie Mac.

But the 10-year Treasury yield began backing down after the weekend as investors reacted to turmoil in Europe.

Also: How 9.3 million renters could enter the purchase market, lessons from Flagstar’s data breach and a possible 15-year plan for Fannie and Freddie.

The government-sponsored enterprise greenlit the use of CoreLogic and LoanCraft’s tools that validate self-employed borrowers’ incomes, and it certified Finicity, a firm that facilitates the equivalent for W-2 employees’ payroll data.