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Fannie Mae researchers found housing costs decelerating for the fourth straight quarter, but limited inventory may be driving hopeful buyers to look for opportunities in the new-construction market.

The agency has been using the Freddie Mac weekly rate survey, but a methodology change by the GSE is the catalyst for the revision to determine the Average Prime Offer Rate for high-cost mortgages.

U.S. homebuilder sentiment rose for a fourth month in April as limited resale inventory helped drive demand for new houses, suggesting the residential real estate market is slowly recovering.

Federal Reserve Governor Christopher Waller said he favored more monetary policy tightening to reduce persistently high inflation, although he said he was prepared to adjust his stance if needed if credit tightens more than expected.

The firm reported $13.3 billion in NII in the first three months of the year, up 45% from a year earlier and more than the 42% jump analysts expected. That gain helped counter a surge in provisions for souring loans.

Mixed economic signals left mortgage rates flat over the past seven days, with experts suggesting the end of Federal Reserve policy hikes might be coming as well.

Two professionals who advise servicers on compliance name their key areas of concern.

Average purchase-loan amounts on new applications also increased after a recent pullback, as limited inventory provided little price relief.

The American Bankers Association's latest Credit Conditions Index points to a drop in lending and a rise in loan delinquencies through the second and third quarters.

But overall availability still remained near a 10-year low in March, with government-backed products falling for the third time in four months, the Mortgage Bankers Association found.