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The lender's share price fell 93% Thursday as the industry reckoned with average mortgage rates hitting a 22-year high.

The program is even lower than Freddie Mac's best of 3%, with Zillow offering to pay 2% of the down payment at closing, according to a statement Thursday.

An economic slowdown would deliver lower interest rates but tighter credit standards, while a "soft landing" for the economy wouldn't solve the low inventory problem, a new report said.

The 30-year average jumped for the fifth week in a row and is likely to continue trending upward, economists say..

In a letter to the Federal Trade Commission, the California Democrat said assurances were needed from the potential combined company to ensure the buyer of divested assets would not be dependent on the "conglomerate" to offer fully functioning products.

In a seven-day period that saw several marks — including conforming interest rates — surge or dip past longtime highs and lows, overall mortgage activity cooled for a fifth consecutive week, according to the Mortgage Bankers Association.

The lender, which endured two difficult years of limbo before its listing, is touting a capital infusion of at least $550 million as a key to future growth.

While a majority of current forborne borrowers sought relief for reasons related to COVID-19, servicers are seeing a growing share of cases involving natural disasters or personal financial issues, the Mortgage Bankers Association said.

The government watchdog's original lawsuit was dismissed by a district court on Feb. 3, after the parties engaged in over nine months of discovery. Two months later, the agency challenged the decision.

The Office of the Comptroller of the Currency granted federally chartered banks permission Monday to close branches in California, Nevada and Arizona affected by Tropical Storm Hilary.