Economy

A potential pause in the cycle by the Federal Open Market Committee is welcomed by housing industry observers, but inflation and inventory hinder activity.

Changes to loan-level price adjustments are perfectly consistent with the FHA's mission and with the safety and soundness of Fannie Mae and Freddie Mac.

The government-sponsored enterprise improved slightly upon the previous quarter's numbers, but contraction in lending remains a risk.

Lenders would be required to assess a borrower's ability to repay such a loan.

The California Reinvestment Coalition, the group behind the assessment, is calling for increased nonbank oversight.

The legislative proposals backed by Republican members of congress seek to undo the latest cross-subsidized adjustments to loan fees that two large government-related mortgage investors charge.

The loans, which are known as advances, jumped 28% at the end of the first quarter from the close of 2022, the FHLB Office of Finance said on Friday.

The average profit margin on the sale of median-priced single-family homes and condos fell to 44% last quarter, from a peak of 56% in the second quarter of 2022, according to data published Thursday by Attom, a real estate analytics firm.

While Freddie Mac reported the 30-year fixed rate loan increased, other data providers show that product's pricing dropped from seven days earlier.

Heightened worries about the strength of consumers and the global economy have been put on hold — at least for now — after some of the world's best known companies delivered a slew of better-than expected numbers.