Origination

For the 10th consecutive week, the brokerage’s Demand Index declined, this time by the largest share in over two years.

The rise comes as some homebuyers are worried about even higher borrowing costs. Still, homebuilder sentiment sank further to a two-year low.

The company was an aggressive buyer of rentals during the pandemic, but it is reversing course as the housing market cools.

Industry leaders suggested they’ve "never felt so worried at a time when everything feels so good otherwise," said Chris Herbert, managing director of the Joint Center for Housing Studies of Harvard University.

The new product is an extension of its FraudGuard offering for the first lien mortgage market.

This latest campaign comes as application volume is down by 53% from a year ago, while mortgage rates are 2.59 percentage points higher since the start of 2022.

Plummeting returns add to indications that investors may become more selective in home purchases.

Lawmakers on the Senate Banking Committee voiced some scattered support for changes to improve the finances of the National Flood Insurance Program, but comprehensive reform appears out of reach.