Freddie Mac chairman and chief executive Richard Syron has told the nation's homebuilders that their industry should experience a "material" slowdown this year.However, the chief of the government-sponsored enterprise, speaking recently at the annual convention of the National Association of Home Builders, predicted that starts and home sales will remain strong by historical standards. "Simply put, we're coming down from Mount Everest levels of activity," he told builders. "But 2006 still should be a good year at the base camp -- hopefully leveling out at a high plateau." Final numbers are not in yet, but housing starts -- including single-family and multifamily -- likely set a record last year, weighing in at about 2 million newly constructed units.
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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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