Mortgage rates

While newly constructed home mortgage applications rose both on a monthly and annual basis, the gains were slower than typical.

A pair of metrics that examine competition in the marketplace went in different directions in March, Zillow found.

The National Association of Home Builders/Wells Fargo index of housing market conditions held at 51 in April, still the highest since July but breaking a string of four straight monthly gains, according to data released Monday.

Those who raced ahead of the pack of loan originators last year went the distance by offering exceptional customer service, catering to niche pockets of demand in the market.

Mortgage rates rose this week as investors priced stronger than expected inflation and jobs affecting Fed moves into the 10-year Treasury.

Mortgage lenders offered more cash-out refinance programs at a time when consumers might be coming to terms with the rate environment.

The surprisingly strong U.S. economy has driven Treasury yields to the highest since late November as investors dial back bets on interest-rate cuts, wagering that policymakers will be wary of easing policy prematurely.

Logan, whose remarks are closely watched by investors given her prior role managing the central bank's asset portfolio at the New York Fed, said she's increasingly concerned that inflation progress could stall out. 

In a study posted weeks after it raised concerns about "junk fees," the Consumer Financial Protection Bureau noted that the amount of borrowers paying discount points doubled from 2021 to 2023, with the increase larger among consumers with lower credit scores.

Rates for the 30-year fixed mortgage rose just 3 basis points this week, even as the 10-year Treasury yield hit its highest point since November.

Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.

But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.

Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.

The Midwest was the main driver of the increase in pending sales, with a 10.6% jump, while contract signings in the South edged up 1.1%.

State and local governments borrowed nearly $9 billion for affordable housing so far this year — the most for the period in at least a decade.

Potential home buyers may be holding back in anticipation of lower rates to come in the second half of the year, the Mortgage Bankers Association said.