The three-day winning streak for the Dow Jones Industrial Average came to an end on Wednesday in part because of the release of the
Of the 17 members of the Mortgage Industry Equity Composite, 10 closed lower, two broke even and just five finished higher than their
MGIC Investment Corp. lost 4.68%, followed by KB Home, down 2.81%, and Fidelity National Financial, down 2.38%.
PHH was the biggest gainer on a percentage basis, up 1.48%, followed by Ellie Mae, up 1.17%.
Conforming loan limits are determined using a home price index. A congressman is proposing a switch to an income-based metric, creating more jumbo mortgages.
The effective tax rate, measuring taxes relative to home prices, also increased to its highest mark in five years, according to Attom's analysis.
The California-based lender announced Wednesday the addition of One Goal Mortgage, a branch serving the Omaha, Nebraska, metro area and Southwest Iowa.
Better is focusing on its U.S. mortgage unit, which reported higher-than-expected preliminary loan volumes and priced a stock offering.
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
Roughly a third of homeowners with a mortgage rate less than 6% would not give up their rate for any reason, according to a survey of 1,000 mortgage holders.
