Origination

With the 10-year Treasury yield at levels not seen in 52 weeks, the 30-year fixed rate mortgage rose 15 basis points over last Thursday, Freddie Mac said.

Starts of single-family homes declined 9%, the most since August, according to government figures released Thursday. 

Lenders at the MBA conference say non-agency is more than just non-QM — and those still treating it as a niche product are falling behind as it becomes a core part of the business.

The House passed housing legislation that includes a slightly pared-down institutional investor housing ban, as well as a raft of community bank measures.

The share of sellers dropping their asking price fell in April as buyer demand picked up, though Sun Belt markets — especially in Texas — still saw widespread price cuts.

The real estate investment trust, while reporting a first quarter net loss, benefitted from growth and stable margins in its three mortgage production units.

An index of home-purchase applications fell 4.1%, the most since the week ended March 20.

The newest version of the House housing bill would make a ban on institutional investors owning some homes less harsh than the Senate version by removing a seven year mandate on selling build-to-rent homes.

Economic uncertainty and higher rates in April contributed to the first decline in applications for new homes on an annual basis since October.

Inflation and a possible Fed move impacting rates are concerns that product innovation and housing policy can help with, leaders said at an industry meeting.