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Cook expects three- and six-month inflation rates to continue to move lower on a "bumpy path," with monthly data similar to the "favorable" readings seen in the second half of 2023 for the rest of the year.

The announcement comes as the bureau's director regularly voices doubts about whether algorithmic models can be entirely nondiscriminatory and warns companies of potential enforcement from violations.

But those in opposition are still giving the agency props for how it carried out the new product approval process for the first time.

Potentially limiting the Federal Reserve's ability to cut rates is the growing view that the economy's so-called neutral rate — a theoretical level of borrowing costs that neither stimulates nor slows growth — is much higher than policymakers are currently projecting. 

The move allows Freddie Mac to start purchasing certain second lien mortgages, but establishes limits on how much volume it can do.

The Senate Banking Committee will consider the nomination of Christy Goldsmith Romero — the administration's pick to take over the Federal Deposit Insurance Corp. — on July 11.

Federal Reserve Bank of Richmond President Thomas Barkin said he needs further clarity on the path of inflation before lowering interest rates

Activity grew at a slower pace from seven days earlier, as refinance volume retreated, according to the Mortgage Bankers Association.

The suggested order would require Freedom Mortgage to pay $3.95 million to settle allegations that it botched its reporting of customer data to the watchdog.

Through the proposal, the risk function at Ginnie Mae is telling issuers to change their business model or exit the industry, writes the Chairman of Whalen Global Advisors.