Economy

Even if the 30-year fixed were to slip further to 6.4%, it is not enough to end the seller's strike, economists said.

While the government-sponsored enterprise cut its origination forecast for this year, the Mortgage Bankers Association's updated forecast was unchanged from its October prediction.

A complicating factor is that many consumers do not understand how their real estate agent – on either the buy- or sell-side – actually gets paid, Clever Real Estate found.

In her first remarks since the release of a sweeping report on the banks, Federal Housing Finance Agency Director Sandra Thompson urges them to strengthen underwriting and communication with their members' regulators.

Residential starts increased 1.9% last month to a 1.37 million annualized rate, the highest in three months, government data showed Friday.

The market's reaction to the Consumer Price Index report on Tuesday helped to push the 10-year Treasury and 30-year fixed-rate loan lower, Freddie Mac said.

The National Association of Home Builders/Wells Fargo gauge decreased six points to 34 this month, according to data out Thursday.

With a scarcity of listings driving high home prices, both repeat and new purchasers are putting the most money down in decades, the report found.

The agency is decreasing the dollar amount for the second consecutive year, maintaining the percentage quota for mission-related loans and adding a new exemption.

Between 2020 and 2022, both companies benefited from locked-down consumers that took on renovations.

Federal Housing Finance Agency Director Sandra Thompson is pushing for a quick launch of pilot programs at the 11 Federal Home Loan banks to help underserved communities after its report this week prescribed major reforms to the system.

Broader economic factors, including growing household debt, are also likely to keep the housing market stagnant, Freddie Mac said.

The Federal Housing Finance Agency says it wants to more closely tether Federal Home Loan bank advances to housing and community development. Doing so will first involve clearly defining the banks' mission through regulation.

The Federal Housing Finance Agency said in a long-awaited report that it will set up new guardrails for the Federal Home Loan Banks to ensure that the institutions are serving a housing-centric mission.

Often a harbinger of recessions, the fact that short-term yields are higher than long-term is not inherently bad, Federal Reserve Gov. Chris Waller said Tuesday, noting that in this case it could prove that market expectations are anchored.

But the Fannie Mae Home Purchase Sentiment Index still rose in October versus both September and the prior year.

Freddie Mac's survey finds the 30-year fixed loan dropped 3 basis points, but Zillow's tracker showed since the FOMC announcement, they dropped 30 basis points.

Like its competitor Fannie Mae, the enterprise's earnings were higher year-over-year but recorded a quarterly decline in part due to a legacy shareholder lawsuit.

The government-sponsored enterprise's net income was balanced by climbing interest rates, which drove a large increase in fair value gains.

High interest rates and constrained inventory will take its toll on originations and securitization activity in 2024, the rating agency commented.