Organization Root Tag

The cuts add to thousands across the home-lending industry in recent months after the Federal Reserve raised interest rates and cooled what had been a red-hot housing market.

Volumes fell 18% compared to the previous week, while refinance activity also pulled back.

Despite a likely recession, researchers at the government-sponsored enterprise revised volume forecasts upward for both 2023 and 2024, while originators also entered the year expecting their business to improve.

Interest rate increases and economic concerns led the government entity to lower the required amount from $1 million to $250,000.

The government set forth five principles companies should follow when they use artificial intelligence. Chintan Mehta, CIO of strategy, digital and innovation at Wells Fargo, shares how one of the largest banks does it.

Cleveland Fed president says the central bank is still raising rates to a level that's high enough to bring inflation down to the target.

The company's shares jumped after it reported quarterly revenue that wasnhelped by a better-than-expected period for its core advertising business.

Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.

The markets are looking for a Fed pivot, but central bankers continue to say more hikes are coming and rates will stay higher longer. OANDA's Ed Moya joins us after the meeting to give a comprehensive look at what the Fed signals for the future.

Average purchase sizes have increased each week this year, likely signaling greater buyer activity occurring toward the higher end of the market.