Coronavirus

Mortgage application volume increased 15.1% from one week earlier, and with interest rates still falling, even higher refinance demand is probable in the short term, according to the Mortgage Bankers Association.

The Fed’s decision to cut its benchmark interest rate amid growing coronavirus concerns is bound to have an impact on banks, but just how broad and how deep remains to be seen.

Investors' purchases of 10-year Treasurys after the Fed's 50 basis point short-term rate cut drove the yield below 1% for a period of time.

While home price appreciation has lost some momentum, tight inventory and low rates could drive housing values further upward this spring if the coronavirus remains contained, according to CoreLogic.

Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.

Canada's housing market is poised for a hot spring — with lower mortgage rates likely to offset any major drag from the coronavirus.

The Federal Reserve has voted unanimously to cut the interest rate 50 basis points to 1.10% effective March 4, in the first emergency rate cut since 2008.

The Federal Open Market Committee cut the fed funds rate target 50 basis points to a range between 1% and 1.25%, it announced Tuesday.

Fears stemming from the coronavirus have resulted in lower mortgage rates and more business for now, but if the situation deteriorates further, consumers could decide to put off buying a home.

Policymakers may not wait until their mid-month meeting and could act with other central banks.

JPMorgan Chase & Co. is shifting workers to handle an expected surge in demand for home loans as the American housing market looks forward to its strongest spring in at least a decade and the coronavirus sends mortgage rates lower.

The Federal Reserve is monitoring the COVID-19 issue and its economic effects, according to a release from the central bank, attributed to Chairman Jerome Powell, released Friday.

Mortgage rates slipped this week, as the stock market sell-off resulted in investors moving into bonds which drove the 10-year Treasury yield down, according to Freddie Mac.

Mortgage application volume rose last week, but with the 10-year Treasury yield tanking in recent days, growth in refinancings for the current period is quite likely, according to the Mortgage Bankers Association.

New-home sales jumped at the start of the year, reaching the strongest pace since mid-2007 on the heels of cheaper borrowing costs, favorable weather and a resilient labor market.

Mr. Cooper Group reported fourth-quarter net income of $461 million, aided by the recovery of its deferred tax asset and a positive mark-to-market on its servicing portfolio.