Origination

The surge in mortgage rates since the November election is expected to offset the increase to lenders' short-term funding costs following the Federal Open Markets Committee's 25-basis-point increase to the federal funds rate.

The Federal Open Market Committee agreed unanimously Wednesday to raise the federal funds rate by 25 basis points, a move that was widely anticipated by markets. The committee's expectations for interest rates in 2017, however, were more varied.

Higher rates and lower consumer confidence are expected to put a damper on existing home sales in 2017, according to the National Association of Realtors.

The mortgage interest deduction has been a pillar of U.S. housing policy for more than a century, but Congress appears ready to consider significant changes to it that some industry players worry could effectively render it moot.

The inventory of starter homes is shrinking at an increasingly faster pace, leaving first-time homebuyers with fewer and more expensive options, according to Trulia.

Credit Suisse Group must face New York Attorney General Eric Schneiderman's $10 billion lawsuit accusing the bank of fraud in the sale of mortgage-backed securities prior to the 2008 financial crisis, a state appeals court ruled Tuesday in a split decision.

Mortgage application volume decreased 4% from one week earlier as interest rates on 30-year loans continued to rise, according to the Mortgage Bankers Association.

Interest rates may climb to 3% on 10-year Treasuries by next year as deficits and inflation rise under a Donald Trump presidency and that would hurt the housing market, said Jeffrey Gundlach, chief investment officer of DoubleLine Capital.

Southern National Bancorp of Virginia in McLean has agreed to buy Eastern Virginia Bankshares in Glen Allen.

It is going take some time before it comes to fruition, but the Federal Housing Finance Agency got the ball rolling Tuesday on pushing Fannie Mae and Freddie Mac to begin purchasing manufactured housing loans.