Economy

But strong g-fees, a positive credit-loss adjustment and stable home prices bolstered results despite declines in mortgage purchases to lows not seen in some time.

Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.

Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.

U.S. economic growth slid to an almost two-year low last quarter while inflation jumped to uncomfortable levels, interrupting a run of strong demand and muted price pressures.

But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.

Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.

The two major government-related mortgage buyers' clarifications on real estate commissions take a path similar to that of the Federal Housing Administration.

Residential starts decreased 14.7% in March to a 1.32 million annualized rate, the lowest since August, government data showed Tuesday.

A pair of metrics that examine competition in the marketplace went in different directions in March, Zillow found.

Lumber prices climbed higher for the first time since July, but prospects for single-family construction to grow look promising based on early-year data.