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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.

The Fed's tests have become a menacing countercyclical force that could further drive down liquidity in the mortgage market over the next year, the chairman of Whalen Global Advisors writes.

Home sales were down by 17% in June, while inventory increased over 27%, compared to numbers from one year ago, according to Remax.

The slowdown in new single-family construction is one of several headwinds homebuilders find themselves facing this summer.

The embattled mortgage business cut approximately 72% of its workforce over a six-month period, according to a Securities and Exchange Commission filing.

Following their largest drop in over a decade one week ago, averages rapidly swung upward as recession talk receded.

In an internal memo to staff, Deputy CFPB Director Zixta Q. Martinez announced a realignment of the bureau’s legal and student loan offices with an expanded strategy team.  

New starts in the first half of the year came in 19% higher than early 2020, but primarily affected long-delinquent properties protected by moratoriums.

Although refinances picked up after the July 4th holiday, they failed to offset a larger decline in purchases.

The figures reaffirm price pressure are rampant and widespread across the economy, and having effect on real wages.

Jumbo and adjustable-rate offerings increased during the month, but that was offset by a decline in government loans, leading to an overall drop in MBA’s credit availability index.