Sales of previously owned homes rose in August to the highest in more than a year amid lower borrowing costs and sustained income gains, adding to signs the housing market is breaking out of a slump.

The spike in overnight repurchase agreements may prompt the Federal Reserve to expand its balance sheet.

Mortgage rates rose seven basis points compared with the prior week, but remained below 3.6% over four consecutive weeks for the first time since the fourth quarter of 2016, according to Freddie Mac.

The legislation takes aim at third-party bank service vendors, the backlog of FHA appraisals, rural housing assistance and other issues where there is broad agreement.

The bank started buying more Treasurys and mortgage-backeds over a year ago, long before talk about rate cuts. What did it know that its rivals didn't?

Mortgage rates tumbled to lows not seen since November 2016 as benchmark 10-year Treasury yields continue to decline due to investors' uncertainty over trade and the economy, according to Freddie Mac.

Millennials jumped to take advantage of low mortgage rates by refinancing at an increased share of 6 percentage points in June, according to Ellie Mae.

The U.S. government's trade war with China is pushing down yields on 10-year and 30-year Treasury notes.

The economic tensions between the U.S. and China drove interest rates down last week, leading to a surge in refinance applications, according to the Mortgage Bankers Association.

Yields on the 10-year Treasury note fell 11 basis points on the morning of Aug. 5 as the trade dispute between the U.S. and China escalated.