Economy

U.S. economic growth slid to an almost two-year low last quarter while inflation jumped to uncomfortable levels, interrupting a run of strong demand and muted price pressures.

But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.

Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.

The two major government-related mortgage buyers' clarifications on real estate commissions take a path similar to that of the Federal Housing Administration.

Residential starts decreased 14.7% in March to a 1.32 million annualized rate, the lowest since August, government data showed Tuesday.

A pair of metrics that examine competition in the marketplace went in different directions in March, Zillow found.

Lumber prices climbed higher for the first time since July, but prospects for single-family construction to grow look promising based on early-year data.

More than a quarter of the respondents to a Redfin survey don't know how much their agent got, with 19% unaware of who actually paid them.

Mortgage rates rose this week as investors priced stronger than expected inflation and jobs affecting Fed moves into the 10-year Treasury.

The downward trend comes as servicers and agencies continue to implement programs aimed at keeping borrowers in their homes.

The memorandum creates channels for sharing information about nonbanks between the Federal Housing Finance Agency and the Conference of State Bank Supervisors.

Rates for the 30-year fixed mortgage rose just 3 basis points this week, even as the 10-year Treasury yield hit its highest point since November.

But the pace of home price growth between January and February was nearly double the level seen prior to the pandemic.

The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.

But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.

Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.

Lower commodity prices and decreases in government assistance are expected to push farm income lower this year and raise credit risk for banks.

The 30-year fixed rate mortgage, the movements of which have been volatile in recent weeks, is expected to stay in the range of 6.5% for the first half of the year before trending down, Freddie Mac said.

In the four years since February 2020, rents have risen overall by approximately 28%, Corelogic found.

Instability in mortgage rate movements should continue in the weeks ahead, even with Fed Chairman Jerome Powell's comments on inflation.