Origination

The lending and servicing giant is also amping up cost-saving efforts with more layoffs after reporting a net loss of $223.8 million in the second quarter.

Economists disagree on whether the latest numbers will mean the Fed will increase rates by 50 or 75 basis points.

But volumes are still at least 80% lower from a year ago, while mortgage applications overall came in flat.

The nation's capital leads in live-work-play rental construction while interest rates are pricing out young potential buyers from the market.

The company is looking at the long-term picture, building business for 2023 and beyond, Chairman and CEO Mat Ishbia said.

Loan availability also took its steepest monthly dive since the first months of the coronavirus pandemic, with jumbo products falling off by more than 13%, according to the Mortgage Bankers Association.

The pandemic-era freeze on student debt payments has "dramatically" improved credit scores for Americans who borrowed money to pay for college, the Federal Reserve Bank of New York said.

It is a reversal of too little inventory that plagued the past two years.

About 64% of borrowers would like loans to be closed in three weeks, according to Arizent research.

The number of active listings nationwide jumped 31% from a year earlier, a record-high increase for a third straight month, according to a report Tuesday by Realtor.com.