Origination

Sales of previously owned U.S. homes fell in December to the slowest pace in over a decade, capping one of the housing market's worst years on record amid a rapid jump in mortgage rates.

Federal Reserve Bank of New York President John Williams said officials have not completed their aggressive tightening campaign to reduce stubborn price pressures.

After volumes peaked at their highest in over a decade in March, the reverse mortgage market ended the year with a bankruptcy and merger involving its largest companies.

To monitor the health of lenders still operating, industry watchers should observe firms' abilities to meet covenant requirements, renew warehouse lines of credits and their activity in the mortgage servicing rights market, said Brian Brown, chief financial officer at Rocket Companies.

Updates will become effective on May 1 and a uniform mortgage-backed securities fee reduction will begin on April 1.

Generally positive news about the U.S. economy helped push rates lower, but worries about Congressional infighting over the debt ceiling could reverse the trend, Freddie Mac and Zillow said.

But lower mortgage rates and better traffic have made homebuilders a bit more optimistic, the Mortgage Bankers Association said.

New U.S. home construction declined for a fourth-straight month in December, wrapping up a disappointing year for an industry that saw annual housing starts fall for the first time since 2009.

First tip: Don't rely too heavily on mobile to reach them.

Gen Zers and millennials want to "test drive" potential long-term living arrangements and neighborhoods, Javelin Strategy and Research found in a recent survey.