Mortgage rates

There is an opportunity for home sales to break out of the doldrums if price appreciation slows, mortgage rates remain flat and supply increases, Freddie Mac said.

Mortgage rates took a small step down, decreasing for the sixth time in the eight weeks since Memorial Day, according to Freddie Mac.

As purchase mortgages continue to dominate overall industry volume, lenders aren't letting the extra work required to close these loans affect their productivity.

Mortgage banking revenue stemming from a year-to-year increase in rates weighed down noninterest income at U.S. Bancorp, but increased interest income from higher rates helped improve earnings overall.

Rising median home prices and tight housing inventory led purchase and overall mortgage application volume to fall although refinances rose.

New-home groundbreaking and permits fell in June to the slowest pace in nine months, as higher mortgage rates and elevated costs for labor and materials pinch the housing market.

Fewer sales of existing homes and uncertainty around future fiscal policies will result in fewer mortgage originations than previously expected, according to Fannie Mae.

Confidence among homebuilders held steady in July, matching the lowest level of the year, as solid job gains support demand while elevated material costs pressure developers.

Mortgage rates broke from their recent respite, increasing for only the second time in the past seven weeks, according to Freddie Mac.

Greater consumer access to credit could help mortgage bankers replenish originations eroded by higher rates, but they are reluctant to depart from the status quo to provide it.