The rate-indicative 10-year Treasury yield was just above 4.2% Monday morning as it continued a more or less upward trend that started on Friday, according to Yahoo! Finance.Recently the 10-year has been trading at levels closer to 4.0% or 4.1%. The benchmark yield began rising on Friday after the release of statistics that showed that, on a net basis, hiring surged overall in October even though jobs in the mortgage industry declined slightly.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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