Economy

Gov. Gavin Newsom modeled his latest order on a similar ban imposed in Hawaii following the 2023 Maui wildfire that aimed to protect community wealth.

Banks seeking to offload CRE assets are finding a receptive marketplace while regulators have managed to keep the situation in balance, observers say.

The former president of the servicing giant stepped down from his previous role in early 2024 but continued to hold board positions at parent and partner businesses.

The 30-year fixed rate mortgage continues to close on the 7% mark. With political uncertainty and the U.S. economy remaining strong, it could keep going up.

About one-third of homeowners say they'll never sell their homes, per a questionnaire commissioned by Redfin.

Slowing home price appreciation caused Milliman's mortgage default index to increase from quarter to quarter.

Analysts agree recent changes to government agreements will end the Fannie Mae and Freddie Mac conservatorships, but it'll likely happen later rather than sooner.

Bill Ackman, founder of Pershing Square Capital Management, predicts Fannie Mae and Freddie Mac will be removed from conservatorship within the next two years.

Although a new administration means policy uncertainty, most analysts see the economy growing above trend next year, although inflation will remain a concern.

The Freddie Mac mortgage rate tracker on Thursday morning showed the conforming 30-year fixed rate mortgage creep closer to the 7% level last seen in May.

Home sellers for properties listed at $650,000 or less are more likely to overprice their house and as a result, these are the ones which are languishing on the market.

Proceeds from the sale will be used by HomeStreet to pay down Federal Home Loan Bank advances and brokered deposits.

Mortgage rates have run higher since the most recent Federal Reserve meeting as consumer spending points to economic strength.

Mortgage rates should decline very gradually next year as the Federal Reserve will keep to its implied path of short-term rate reductions, Freddie Mac said.

Releasing the GSEs from government conservatorship is on the agenda for the incoming Trump administration. Doing so could threaten the 30-year fixed rate mortgage.

Flood insurance could hold up some home sales and lending, while major bank regulatory agencies will remain funded even if the government is unable to pass the necessary legislation before funding runs out.

The residential market is expected to face challenges from stubbornly high mortgage rates and limited supply in 2025, particularly after Fed Chair Jerome Powell's comments on Wednesday indicating fewer rate cuts are coming.

Over the past two weeks, the 10-year Treasury yield, priced on market expectations, increased over 40 basis points and that is finally being seen in the Freddie Mac survey.

Mortgage originators should expect more of those interest rate dips that took place in September, but when they happen is the unknown factor, economists said.

Businesses across several industries have already started budgeting for expected price increases