Economy

None of the economists surveyed by Wolters Kluwer predict the Fed will cut rates at this week's meeting, few expect one in July and 41% said after September.

The company also made several new executive appointments in 2025 as it aims to turn itself into a national one-stop shop with end-to-end home buying services.

The 30-year fixed rate mortgage moved one basis point lower this week, remaining in the same range since it spiked in mid-April, Freddie Mac said.

A non-bank lender won't ever compete with a bank on price, but can offer flexible underwriting and faster origination times, according to a veteran originator.

While lenders have come out with more products for the spring season, rate lock data finds buyers still hesitant to act because of high mortgage rates.

A forthcoming bill from Sens. Jim Banks, R-Ind., and Catherine Cortez Masto, D-Nev., would allow the Federal Housing Finance Agency director to set limits on executive pay at the Federal Home Loan banks.

The lender's former chief of staff alleged the non-QM lender misrepresented loan characteristics to investors and regulators, charges which were never proven.

Even with the four basis-point drop, the 30-year fixed rate mortgage remained at levels last seen in February as the Spring homebuying season reaches its climax.

Funding for Volo Loans, which assists U.S. homebuyers in Costa Rica, comes after recent polling showed a significant share of Americans open to moving abroad.

The volatility pushed whole loan spreads wider and brought single-asset single-borrower commercial mortgage-backed securitization to a halt as lenders waited for clarity.

Federal Reserve Gov. Christopher Waller said changes to the Federal Open Market Committee's quarterly economic projections could lead to clearer communication with markets and market participants.

However, with the market continuing to shift more in favor of homebuyers, home prices should move lower, aiding affordability in the weeks ahead.

Federal Reserve Gov. Lisa Cook said in a speech Friday that the market's response to recent volatility shows resilience, but more study is needed about the financial stability implications of business relationships between banks and nonbanks.

Purchases of new single-family homes increased 11% last month to a 743,000 annual rate, the highest level since February 2022, according to government data.

The 14.3% rate for deals withdrawn in any April is the highest level other than in Covid-impacted 2020, as homebuyers reexamine the market, Redfin said.

Yields on the 10-year Treasury have been climbing because of the Moody's U.S. downgrade, the tax bill under debate in Congress and possible GSE reform.

Bond yields are shooting up for the second time in as many months. Federal Reserve Gov. Christopher Waller attributes the volatility to concerns about rising national debt levels.

Increases in gross domestic product and home sales expectations compared with April are the drivers of Fannie Mae's latest mortgage outlook for 2025 and 2026.

The Mortgage Bankers Association latest forecast reflects the industry's current views on where their business is going, said Mike Fratantoni.

Sean Grzebin discusses his plans to leverage JPMorgan Chase's massive consumer audience to pick up mortgage market share.