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However, the 30-year fixed rate mortgage is still 14 basis points lower than it was for the same week last year, the Freddie Mac survey reported.

Pending sales of previously owned US homes last month fell by the most since September 2022, illustrating a disappointing spring selling season as prospective buyers balk at high asking prices and borrowing costs. 

Analysts awaiting specifics on the "implicit guarantee" for Fannie Mae and Freddie Mac are split on whether mortgage rates and guarantee fees could rise.

While overall investor purchase activity is returning to pre-pandemic norms, interest in condo units dropped to a 10-year low, as insurance and fees surged.

While more consumers claim they can't tell whether now is a good time to purchase a home, over half of prospective buyers said the market is better than it was in 2024.

While mortgage originations increased, borrowers focused their attention on big-ticket items, as credit account balances flattened overall, Vantagescore said.

During its meeting last month, some members of the Federal Reserve's monetary policy committee expressed concern about persistent supply chain disruptions while others were confident price growth would be constrained.

The yield on 10-year benchmark Treasuries was up about three basis points following Wednesday's sale, after earlier climbing more than five basis points. 

The Mortgage Industry Standards Maintenance Organization has created a new version of, as well as enhanced the current edition. of its reference model.

Bill Pulte and the government-sponsored enterprise's chief executive will be working with a firm that analyzes big data and utilizes artificial intelligence.

The quarterly data showed bank profits were driven by gains at large firms while credit quality remained mixed, with commercial real estate loan stress at relatively high levels.

The law, set to go into effect later this year, was introduced to prevent potential money laundering in all-cash purchases made by companies or trusts.

The Mortgage Bankers Association's measure of refinancing dropped 7.1% to 634.1 in the week ended May 23.

President Donald Trump said that the US government would retain guarantees and an oversight role over Fannie Mae and Freddie Mac even as he pursues a public offering for the mortgage giants.

The transaction is the fourth of its type the company has done this year through the partnership it has had with Crosscountry Mortgage since late 2022.

The company, which already offers services in 41 states, through the Summit Mortgage Training buy gets a foothold in New Jersey and Pennsylvania.

Regulators say the Mississippi-based depository satisfied the terms of the $5 million settlement it reached with Biden administration officials in 2021.

The Federal Reserve and several industry groups agreed to put an indefinite stay on their legal fight over the annual examination process.

The regulator says its prior amicus brief, which cited the Fair Debt Collection Practices Act and sided with borrowers, was no longer valid.

A federal housing official pledged to take near-term action on credit score costs as two legislators have urged him not to allow fewer credit reports.