The rate-indicative 10-year Treasury yield rose above 4.4% Monday morning following the release of stronger-than-expected manufacturing statistics.The main statistic in the November ISM manufacturing report reached a high not seen since 1983, according to a report by RBS Greenwich Capital Markets. The manufacturing report is "good for stocks, bad for bonds," according to Mortgage Market Guide, an interest rate consulting service for originators. The jump in the 10-year's yield puts it back where it was before its downward shift on Nov. 17, when it fell just below 4.2%.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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