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While private mortgage insurance still has a larger share of business than the Federal Housing Administration, the gap will continue to narrow through 2027.

Gen Z and Millennial homeowners also face unexpected expenses after closing, underscoring need for more education on the part of mortgage professionals.

The contract rate on a 30-year mortgage declined 10 basis points to 6.67% in the week ended Aug. 8, according to Mortgage Bankers Association data released Wednesday.

Approximately 60% of economists surveyed by Wolters Kluwer believe the Federal Open Market Committee will act at its next meeting with a 25 basis point cut.

Insurance industry advisors and groups say the INSURE Act proposal for a catastrophic reinsurance program won't solve rising prices and coverage crisis.

Core CPI, which excludes food and energy, rose to 3.1%, up from 2.9% in June.