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Home sales were down by 17% in June, while inventory increased over 27%, compared to numbers from one year ago, according to Remax.

Goldman Sachs Group, Morgan Stanley, JPMorgan Chase and Citigroup each reported a substantially larger workforce in the second quarter compared with a year earlier. Across the six biggest U.S. banks, the average gain in employment was 5.5% compared with mid-2021.

Delinquencies are likely to rise if both interest rates and inflation continue their upward movements, a DBRS Morningstar report said.

The new study found that Black families spend more on their income on essential goods that fluctuate more in price.

If a reduction was critical at a time when interest rates were at record lows, it has become more imperative as affordability wanes, the Community Mortgage Lenders Association argues.

Also: LendingTree denies it’s the source of a data breach affecting 200,000

The slowdown in new single-family construction is one of several headwinds homebuilders find themselves facing this summer.

Like other mortgage lenders, the San Francisco megabank has been cutting staff since refinancing volumes started to fall. Additional layoffs are expected over the next couple of quarters, according to the bank’s chief financial officer.

The mortgage giant said departing employees accounted for approximately 81% of the volume achieved by its New York operations in the past year.

These results are likely to be mirrored by the nonbank lenders when they report earnings, said Keefe, Bruyette & Woods.

Both the 203(k) and Title 1 programs have not gotten attention by the agency for quite some time, senior officials admitted during a briefing.

Wells Fargo missed analysts’ earnings estimates as home lending slowed and the bank set aside more than expected for potentially soured loans as the Federal Reserve’s rate hikes started to cool the once-hot housing market.

The San Francisco bank reported a 31% increase in loan originations during the second quarter. Analysts are wondering whether it will be able to secure enough low-cost funds to avoid eroding margins.

The embattled mortgage business cut approximately 72% of its workforce over a six-month period, according to a Securities and Exchange Commission filing.

A class action said the company, which has suffered two breaches in the past year, also was responsible for a larger breach and “downplayed” the situation when it notified consumers.

Following their largest drop in over a decade one week ago, averages rapidly swung upward as recession talk receded.

With rising interest rates and lower affordability, the velocity of value increases is likely to decelerate further in coming months, Fannie Mae said.

While the reason behind the deficit for every city is different, it is leading to soaring prices as the country faces high interest rates and a possible recession.

In an internal memo to staff, Deputy CFPB Director Zixta Q. Martinez announced a realignment of the bureau’s legal and student loan offices with an expanded strategy team.  

New starts in the first half of the year came in 19% higher than early 2020, but primarily affected long-delinquent properties protected by moratoriums.