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The 30-year average has declined by 55 basis points in two weeks.

Refinances inched up 2% as interest rates dipped, but accounted for only 31% of activity, compared to two-thirds a year ago.

The day after the Federal Open Market Committee's next meeting we will analyze the increase and the signals about what rate hikes may be coming.

Several lenders have introduced loan offerings this year to tap into surging property values, as refinances plunge by more than 80%.

The allegations by Rep. Patrick McHenry and others were a response to a CFPB interpretive rule, even though states use their own laws prohibiting unfair and deceptive acts and practices.

Fed Chairman Jerome Powell brushed off concerns that rapidly tightening monetary policy could disrupt the financial system. Some economists and policy experts beg to differ, raising concerns about loan defaults or even the collapse of a key institution or counterparty.

Net interest income was the driver, as increases from investments more than offset a decline related to its guaranty book of business.

Also, Click n' Close, LendArch, First Community name chief officers, Evergreen promotes long-time leader to president and LenderClose grows its marketing team.

The decline was driven by a $307M provision to cover potential credit losses, primarily from its single-family business.

Investors had largely factored in an anticipated increase in the federal funds rate, but latest GDP numbers could result in more volatility.

Analysts say draining reserves from the banking system will reach a practical limit in the first quarter.

Average purchase sizes have also fallen by almost 11% after reaching a record high this spring.

While housing costs were still up nationwide, Pacific states saw the most rapid pace of moderation on an annual basis, a Federal Housing Finance Agency study found.

Dennis Hermonstyne, a legal and regulatory expert, previously held roles with E-Trade and the Federal Reserve System.

Growth is already slowing after its previous increase, but with inflation persisting, it seems a recession is necessary to ease price pressure.

Largely, economists surveyed agreed with the decision by the Fed to continue to raise interest rates to slow inflation.

Katie Jones is the third woman added to the GSE’s chief officer ranks in the past year.

The current 30-year rate is now nearly double its average from a year ago.

Purchases and refinances both came in lower, with overall volumes 60% below numbers from a year ago.

New single-family home mortgage applications, housing starts and industry sentiment all came in at their lowest since 2020.