Mortgage applications

The lawmaker said leadership on the House Financial Services Committee is supportive of the legislation, which would limit the ability of credit-reporting agencies to sell homebuyer information to financial service providers.

U.S. mortgage applications for both home purchases and refinancing dropped last week to the lowest levels since August, hobbled by a recent surge in mortgage rates.

Rising rates have apparently erased the optimism stemming from last month's Federal Reserve interest rate cut.

The Consumer Financial Protection Bureau and Department of Justice issued a consent order against Wisconsin-based nonbank mortgage originator Fairway Independent Mortgage over redlining allegations. Fairway is the country's fifth-largest mortgage originator by volume.

The 30-year fixed mortgage rate rose over 20 basis points last week, putting downward pressure on home loan activity.

Last week's lukewarm results come after a two-year high in application activity.

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.

Purchase activity trudged along during what lenders describe as a traditional end-of-summer slump.

While the lock-in effect on existing supply has helped drive consumer interest in new construction, first-time buyers have been taking a greater share of that inventory.

While still historically low, some of the changes in the first quarter appeared "troubling" and warranted extra scrutiny, according to Aces Quality Management.