Economy

It's a critical time in Washington, with many key institutions in the mortgage and housing industries getting new leaders. At the Mortgage Bankers Association, there's a renewed focus on maintaining effective influence with decision makers on initiatives like housing finance reform, innovation and the evolving needs of home buyers.

From discussing the future of mortgage tech to debating the shifting sands of political policies, here's a preview of the big issues, topics and ideas when the industry gathers in the nation's capital for the Mortgage Bankers Association's Annual Convention & Expo.

The share of homes for sale listed with a price cut hit its highest level since 2014, but the reductions themselves are shrinking, according to Trulia.

Retiring baby boomers will intensify the affordable housing shortage unless public officials find a way to add significantly more low-cost homes to the market.

More than 20% of the houses listed for sale in the Dallas area have had at least one price cut in order to try and move the property.

Manhattan landlords are offering tenants more deal sweeteners than a year ago as developers continue to add supply, and mortgage rates and taxes are drawing in would-be home buyers willing to stick it out a while longer in the rental market.

Real estate prices surged on Maui in September but sales for single-family homes and condominiums were lower than the same time a year ago due to shrinking inventory.

Prices paid for vacant land in Philadelphia have plummeted to their lowest levels in three years after peaking in 2017, an indication that the city's development boom led by townhouse, condo and apartment projects is losing steam.

Mortgage rates, after a brief respite last week, rose to their highest level in over seven years, according to Freddie Mac.

One report found that 95% of homebuyers searched websites before buying a home, and that number jumps to 99% among millennials. In short, almost everyone starts shopping online, and a vast majority are going to Zillow.

Home price index swaps, treated as a second lien on a property, will be used to reduce the default risk associated with low down payment mortgages, one of the program's creators said.

The average sale price of single-family homes in Southern Nevada was an even $300,000 in September, which marks the highest transaction amount since June 2006 when it peaked at $315,000.

Fannie Mae has appointed Hugh Frater, a member of its board of directors, to serve as its interim chief executive officer after Timothy Mayopoulos steps down next week, the company said in a statement on Monday.

Freddie Mac made its first equity investment into a low-income housing tax credit fund in nearly a decade, through a partnership with Enterprise Community Investment.

Hiring by nonbank mortgage lenders and brokers reversed course again and got slightly higher in August as originators made a last-ditch effort to reach seasonal homebuyers before fall.

The Packers plan to build more than 200 homes, with as many as 150 rentals and 90 for sale, a block from legendary Lambeau Field.

Here's a look at the 12 cities with the biggest gap between the current wages needed to buy a home and the historical average, a sign a housing bubble might be brewing.

Mortgage rates dropped slightly for the first time after five weeks of increases, but this is only a temporary lull as the economy remains strong, Freddie Mac said.

Lenders offered fewer government-guaranteed mortgage programs in September, leading to an overall decline in mortgage credit availability, according to the Mortgage Bankers Association.

Builder Lennar Corp.'s purchase of CalAtlantic's financial services operations boosted its mortgage segment's earnings in the third quarter as the acquisition offset declines in per-loan profits and refinancing.