Economy

Since mid-January, "we have seen a meaningful uptick in demand that has continued through this past weekend," Toll Brothers Chief Executive Officer Doug Yearley said in an earnings call Wednesday. 

Comparable sales fell 3.5% in its fiscal fourth quarter, Home Depot said Tuesday.

Investors have hammered the New Jersey-based lender following the turmoil at New York Community Bancorp. But Valley executives say there are key differences between the two real estate-focused banks, and they express confidence that the bank's underwriting will hold up again this cycle.

The public retirement fund, one of the biggest in the US, said four years ago it would review all of its fossil-fuel holdings as it sought to reduce investment risks linked to climate change.

The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.

The year-over-year gain was 1.3 percentage points higher in the most recent period compared with the third quarter last year, the National Association of Realtors found.

Treasury Secretary Janet Yellen didn't directly address the turmoil at New York Community Bank, and said that while some smaller institutions could be hit by a changing commercial real estate market, she doesn't anticipate these mortgages will become a systemic risk.

Fannie Mae is implementing a new prohibition for traditional valuations and addressing the possibility of the National Flood Insurance Program lapsing.

While the Freddie Mac survey reported just a 1 basis point increase from last week, Zillow's tracker found a 30 basis point rise in the 30-year fixed, more reflective of what happened in the bond market.

The top five states have an average realtor commission rate of 6.04%.

But Fannie Mae and Freddie Mac conducted no private-market sales of nonperforming loans early last year as adjustments were made to the program.

Multiple mortgage companies are returning to the unsecured debt market for the first time since 2021, according to a new Fitch report. Here's why.

As a result, a robust housing market is now on the horizon, Freddie Mac chief economist Sam Khater declared.

In the wake of the Surfside condo collapse, Freddie Mac and Fannie Mae instituted stricter rules regarding the soundness of this crucial form of housing stock as it ages. In response to complaints about a lack of clarity on buildings deemed unfit for financing, the GSE unveiled plans to improve transparency for both homeowners associations and lenders. 

Even with the 9 basis point rise this week, they have remained at the same level since mid-December, and that should bring people into the market, Freddie Mac said.

A new "Social MBS" label will be applied to eligible single-family collateral from both government-sponsored enterprises based on a new mission index score.

Its January forecast reverses the call first made in April 2022 that the U.S. economy would slip into an extended downturn.

Contract closings decreased 1% from a month earlier to a 3.78 million annualized rate, according to National Association of Realtors data released Friday.

The Dallas bank's full-year results showed progress toward its long-term strategic goals despite a fourth-quarter drop-off in net interest income heavily tied to its mortgage business, executives said on an earnings call.

Ohio Gov. Mike DeWine rolled out the Welcome Home Ohio program, a product of the Ohio legislature's biennium budget bill, House Bill 33.