Economy

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.

Policy experts say the mix of proposals put forth by the White House could ease the nation's housing shortage, but success will be neither quick nor assured.

Fannie Mae's latest forecast now predicts rates to be half a percentage point higher, and volume to be $1.5 trillion lower than previously expected in 2024.

Some potential sellers are realizing that waiting for lower rates might not be worth it given the amount of equity they have, Zillow said.

The average 30-year fixed mortgage rate for conforming loans fell, according to Freddie Mac, even as the 10-year Treasury yield rose nearly 18 basis points from the start of this week.

The community development financial institution was the nation's top non-qualified mortgage lender last year, according to one ranking.

The Congressional Budget Office put an estimate on the net government subsidy provided to the Federal Home Loan Bank System, including the so-called "implied guarantee," on bonds priced and sold to investors.

But those rates are still relatively high, and that is a barrier to entry for potential homebuyers, Freddie Mac said.

Continued failure to bring Fannie Mae and Freddie Mac out of conservatorship will lead to see-saw mortgage policy every time the White House changes hands, which is against the intent of the GSE statutes that indicate a desire for stable secondary markets, writes the Principal at public affairs firm TVDC.

The latest inflation news has created concern that the Federal Reserve's pivot on short-term rates could be delayed.

While mortgage volume should rise this year, the government-sponsored enterprise expects slightly less activity than it did back in January.