Economy

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.

Weaker economic conditions, rising interest rates and expected changes in investment returns drove the reduced expectations, the Mortgage Bankers Association said.

Median expected growth in household income declined 1.3 percentage point to 3.3% in the January survey, the largest monthly drop in data going back almost ten years, the New York Fed found in a report released Monday.

Federal Home Loan banks aren't doing enough to address the shortage of affordable housing in the U.S., FHFA Director Sandra Thompson says. Some of their members are instead using advances to manage liquidity and perhaps engaging in crypto-related and other activities that put the Deposit Insurance Fund at risk, she says.

The central bank has raised rates aggressively for nearly a year, but experts believe the hiking cycle is nearly over.

Both Zillow and Black Knight Optimal Blue recorded significant increases, but the Freddie Mac survey only reported a 3-basis-point rise.

The Fannie Mae Home Purchase Sentiment Index rose for the third straight month, but concerns about affordability still weigh heavily on the minds of many Americans.

When adjusted for filings from companies in the past year, nonbank employment in the industry was even lower than initial estimates suggested.

Since breaking above 7% in November, the 30-year fixed is now down nearly a full percentage point, Freddie Mac said.

The group, led by Senate Banking Chairman Sen. Sherrod Brown, said nonperforming loans sold to single family housing rental businesses or private equity firms results in the displacement of homeowners.

Repo markets and the bank deposit business, in particular, would be upended if the U.S. were to default on its debt, experts say.