Economy

Bond market investors continue to drive down the benchmark 10-year Treasury yield, even after short-term rates were boosted 25 basis points on Wednesday.

More hikes are likely as the Board is confident its bid to quell inflation won't deepen a nascent banking crisis.

The Toms River-based lender was supposedly having liquidity issues, according to unconfirmed reports.

Residential starts rose 9.8% last month to a 1.45 million annualized rate, the fastest in five months, according to government data released Thursday

Product availability fell to its lowest level since January 2013 as lenders pulled back on offerings across the board, but especially in conforming loans, the Mortgage Bankers Association said.

Inflation is the top factor in Chairman Jerome Powell's point of view and that will likely determine if there is no increase or a 25 basis point hike, mortgage industry economists said.

Having lived through past downturns allows experienced leaders to keep employee engagement high as the mortgage business faces its first rough cycle in over a decade.

More than half of pandemic gains have been erased, but how the mix of stronger than expected overall employment and other developments will affect rates remains uncertain.

The 30-year fixed pushed up another 8 basis points this week as the markets are speculating about what the Federal Reserve will do next.

The Federal Reserve chairman took an unexpectedly aggressive posture following last month's step down in the pace of hikes in testimony before Congress on Tuesday,

The Federal Home Loan Banks claim that liquidity in-and-of-itself supports affordable housing, while the Federal Housing Finance Agency seems to think the mission should be more directly tethered to housing.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg said that the rise of hybrid and remote work, alongside rising interest rates, could be creating lingering risk in the maturity of some bank loans.

The CFPB is requesting input on adding specifications that are intended to alleviate TRID compliance concerns on construction-to-permanent single-close loans and those requiring separate construction and home loan closings.

The increase reflects the rise in the 10-year Treasury yield, which is back above 4% for the first time since that month.

The deal would put housing data provided by the acquiring intelligence provider in front of lenders early in the mortgage borrowing process.

The publishing company controlled by the Murdoch family had been in talks to sell the parent of Realtor.com and other real estate-related websites for about $3 billion. 

Indicators reflect declines in consumer expectations and factory orders that underscore risks of a recession. 

Single-family property sales ran at a seasonally adjusted annual rate of 725,000 units last month, a 13.1% increase from December.

Investors are concerned that the Fed could raise rates 50 basis points at its next meeting and are pricing that risk into the 10-year Treasury.

Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.