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Industry leaders suggested they’ve "never felt so worried at a time when everything feels so good otherwise," said Chris Herbert, managing director of the Joint Center for Housing Studies of Harvard University.

The new product is an extension of its FraudGuard offering for the first lien mortgage market.

This latest campaign comes as application volume is down by 53% from a year ago, while mortgage rates are 2.59 percentage points higher since the start of 2022.

Plummeting returns add to indications that investors may become more selective in home purchases.

Lawmakers on the Senate Banking Committee voiced some scattered support for changes to improve the finances of the National Flood Insurance Program, but comprehensive reform appears out of reach. 

Recent remarks from Federal Reserve Chair Powell suggest more upward movement is ahead.

In some of the regions with the biggest slowdowns, the company is offering incentives to boost demand.

Following the third most active season on record, the 2022 forecast predicts La Niña will drive increased Atlantic storm development.

Several Democratic bills to support down-payment assistance for mortgage borrowers and other housing programs met with protests from Republicans, who said the legislation would further fuel inflation. The GOP maneuvers failed, but they highlighted the parties’ differing priorities ahead of the midterm elections.

The accord resolves a lawsuit by the U.S. Department of Housing and Urban Development alleging that the algorithms used in Meta’s advertising systems allowed marketers to violate fair housing laws by limiting or blocking certain groups of people from seeing housing ads on the service. 

The Government Accountability Office said that examiner guidance at the Office of the Comptroller of the Currency didn’t take into account new statistical methods to uncover potential redlining.

The CRA has failed to reduce anti-Black racial discrimination in financial services, to lower poverty or to lessen environmental destruction.

New home equity conversion mortgage endorsements slowed in April, but remained almost 50% higher than the level from one year ago.

Some economists see a recession as inevitable but other markers, like the unemployment rate and consumption indicators, point to a resilient economy.

Rising interest rates and emergence from pandemic contingencies could put increased strain on the ability to repay, but signs of near-term loan performance stress have been limited.

But total volume is still 53% below last year’s level, while Fannie Mae found the dollar value of refinances down by over 70%.

JPMorgan Chase is laying off hundreds of home-lending employees and reassigning hundreds more this week as rapidly rising mortgage rates drive down demand in what had been a red-hot housing market.

The Federal Reserve has started a hiking cycle that's expected to continue with half-point increases in June and July, Marvin Loh, senior macro strategist at State Street Global Markets, will assess the June Federal Open Market Committee meeting and tell what he expects the panel to do in the future.