Economy

Staff retained or added for the spring homebuying season has stemmed the tide of layoffs for now, according to the Bureau of Labor Statistics' latest figures.

A change in investor sentiment toward an expected pause by the Fed in short-term rate hikes was the driving force behind the current surge, Freddie Mac said.

But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.

The Federal Deposit Insurance Corp. said in its quarterly banking profile that the banking industry remains resilient despite a challenging economic backdrop, but exposure to commercial real estate losses and interest rate risks could make continued stability difficult.

The enterprises should offer an indemnification in lieu of the practice of a repurchase demand for all performing loans, writes the Executive Director of Community Home Lenders of America.

However, much of the damage could already be priced into the stocks after this latest selloff, analysts said.

Investors are concerned that a deal will not be reached in Washington and a default will take place, driving up the benchmark 10-year Treasury yield.

Manufactured units, down payment assistance and bond investments could help alleviate some of the issues facing aspiring homeowners, but inventory issues will persist, a panel of experts said.

The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.

Single-family officials at an industry conference also quantified some of the progress they're making with alternative credit data, and noted that digital validations can help reduce defects.