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The decline continues the trend of seesaw movements, coming just a week after economic worries led averages to surge.

Numbers decreased for both purchases and refinances, which also saw the slowest pace of activity in over 20 years.

The move will reduce the excess capacity in the field but the effects on servicing are likely to dampen the Federal Housing Administration market, Keefe, Bruyette & Woods said.

In a reversal of 2021 trends, inventory is increasing and price reductions are occurring across cost levels, though less often among the least expensive homes, according to reports from Zillow and Redfin.

The Federal Housing Finance Agency wants to change some of the government-sponsored enterprises' targets in ways that could create more low-income rental units as higher costs squeeze tenants.

Despite some moderation in overall supply prices, concrete products are running consistently higher.

A significant divergence between the FHFA and the Ginnie Mae issuer rules could greatly disrupt the secondary market — and that is precisely the outcome that now faces the mortgage industry, writes the chairman of Whalen Global Advisors.

The bank plans to shrink its vast mortgage empire, which once churned out one of every three home loans in the U.S. and for a time made the bank the most valuable in the nation.

Fannie Mae and Freddie Mac are mum on whether a temporary solution from Florida officials to support downgraded home insurance firms will pass muster for the enterprises' underwriting exceptions.

Approximately 8% of listings on the market each week are getting a price cut, while the share of offers facing bidding wars fell below 45% in July, the brokerage's latest report found.