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Federal Reserve Chair Jerome Powell said today's high mortgage rates are dissuading some would-be sellers from putting their homes on the market, further limiting lending opportunities in an environment already constrained by low inventory

The FOMC held its target range for the federal funds rate at 5.25% to 5.5%, while updated quarterly projections showed 12 of 19 officials favored another rate hike in 2023, underscoring a desire to ensure inflation continues to decelerate.

A new label and disclosures for certain mortgage securities may create more of an impetus for lenders to extend credit to underserved populations.

Loan applications for single-family constructions jumped for the seventh month in a row, with increasing interest coming from first-time buyers, according to the Mortgage Bankers Association.

The mortgages are part of a program that received congressional scrutiny earlier this year.

A continued slowdown in refinances, though, drove overall loan-application volumes lower last week, even as the Government Index posted a small gain, according to the Mortgage Bankers Association.

Any comprehensive overhaul of the Federal Home Loan Bank System will have to navigate a dense thicket of countervailing regulatory and stakeholder priorities.

The securities have been hard to sell in part because the bonds will probably pay below-market coupons for years.

The head of the Consumer Financial Protection Bureau defended the agency and its mortgage rules in particular on the 15th anniversary of the collapse of Lehman Brothers.

The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward.

Current affordability challenges appear to have spurred the Department of Housing and Urban Development affiliate to rectify a concern dating back to 1990.

Lenders will be adjusting to new mandates regarding mortgage applicants that don't have payments for education debt on their credit reports.

Michael DeVito has been able to grow the government-sponsored enterprise's net worth, but at the current pace and without a rule change, it could take 10 years to build enough capital to exit conservatorship.

The Federal Deposit Insurance Corp. acknowledges in a new report that it didn't adequately monitor First Republic Bank's uninsured deposits, interest rate risk sensitivity and rapid growth — and as a result left the bank vulnerable to contagion.

The settlement resolves allegations dating to 2014 and covers 85 minority employees who alleged they were paid lower wages than their white counterparts and faced retaliation.

While congressional leaders fight over what to include with the $12 billion slated for FEMA, others feel that the reliance on FEMA and the federal government for disaster relief may begin to change.

Purchase-loan activity dropped again to its most subdued level in close to three decades, while refinances saw their smallest numbers in eight months, according to the Mortgage Bankers Association.

The Federal Reserve has now offloaded about $1 trillion of its bond holdings since it began working down its bloated balance sheet last year, with no sign of the kinds of strains in financial markets that spooked policymakers the last time they oversaw such a program.

After remaining above $2 trillion for a year, the Federal Reserve's overnight reverse repurchase facility has seen steadily less use in recent months. The development is welcomed by banks, but could be a sign that certain financial players are shifting funds to riskier activities.

Also, Appraisal Institute appoints new CEO, Common Securitization Solutions names technology officer and two new lenders move into reverse mortgage.