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The recent spike in interest rates has also led to elevated ARM activity, which accounted for over 10% of all applications.

The decline was "widespread" impacting eight of the nine U.S. census divisions, according to the Federal Housing Finance Agency.

Investor activity in the housing market has had a nominal impact on the cost of housing, the head of the National Rental Home Council writes, citing research by one of the government-sponsored enterprises. Supply-demand imbalance is the primary driver of price appreciation, he argues.

The Federal Housing Administration also announced it would incorporate similar borrower history into its underwriting beginning at the end of October.

A new proposal calls for systemically important transaction clearing firms to update their practices on handling risks related to cyberattacks and climate change.

The Federal Housing Finance Agency's quarterly report said that the government sponsored enterprises prevented a total of 96,952 foreclosures

The Consumer Financial Protection Bureau's latest request for information floats the idea of an "auto-refi" and potentially extending pandemic-related options like forbearance for permanent industry use.

"To talk about 95% of issuers by count being compliant without recognizing that a very large number of issuers hold few MSRs is disingenuous," one industry executive told the chairman of Whalen Global Advisors.

Bond traders are girding for the risk that Federal Reserve Chair Jerome Powell is ready, willing and able to plunge the U.S. into recession to get the inflation bogey under control.

The average purchase loan amount rose as a brief increase in demand for government-sponsored loan programs cooled.