Economy

The past 12 months were chock full of impactful changes to the home lending industry but keep an eye on these in particular in the new year.

But the 15-year interest rate rose last week, in line with 10-year Treasury yields, as bond investors used a quiet week to reflect on broader trends.

But the lower rates of the past month did result in a $7-billion boost to its origination forecast for 2022.

Former Treasury Secretary Lawrence Summers said that the latest U.S. inflation numbers were encouraging and that the coming likely recession may arrive later than previously thought. 

This was the fifth week in a row the Freddie Mac Primary Mortgage Market Survey reported a decline in the 30-year rate after peaking at 7.08%.

New data offered the strongest evidence yet that price pressures have peaked.

Nonbanks would have to inform the CFPB of any state or local court decisions against them involving consumer financial products, under a new proposed rule. That information would be pooled with data about federal violations and be made available to the public.

The cut occurred across departments and included the dismissal of the company's head of mortgage.

Following peaking at 7.08% on Nov. 10, the 30-year fixed has come down three-quarters of a percentage point, Freddie Mac said.

New York, Chicago and Philadelphia led the list of large metropolitan markets considered vulnerable to a downturn, based on analysis from Attom.