Economy

Residential starts increased 7% last month after falling by the most in over a year in August, according to government data released Wednesday.

Providing support to affordable rental developments is a key component in the Biden administration's efforts to increase housing supply.

But the industry will still have to go through some pain in 2024, Wharton Professor Susan Wachter told attendees at the Mortgage Bankers Association annual convention.

The lucrative broker commission system at the heart of the residential housing market is facing unprecedented antitrust scrutiny from the Justice Department and two private class-action lawsuits that risk weakening the National Association of Realtors, the industry's powerful lobbying group.

While great progress has been made towards the goal of reducing capacity by 30%, job reductions should continue for several more quarters.

An analysis of previously released S&P data suggests the Federal Housing Finance Agency's initiative would have mixed impacts on the price of loans and eligibility that vary by individual.

Numbers the Federal Housing Finance Agency just reported for 2022 were the third lowest since the program began, and this year's probably won't be high either.

While some observers believe that by year-end, the 30-year FRM would be lower than current levels, chatter about an 8% mortgage exists.

Policymakers should instead focus on how different components of core inflation are decelerating — with cooling still needed especially in housing inflation.

Even as Freddie Mac's survey put rates at their highest since December 2000, factors like rising oil prices and a government shutdown could slow the economy.