Economy

The S&P Supercomposite Homedbuilders Index dropped 16% this week as investors grow concerned over a recession and surging mortgage rates.

Non-depository institutions originated an even greater share of all home loans compared to the year before, according to the Federal Financial Examination Council’s latest analysis of Home Mortgage Disclosure Act data.

Prices for new construction dropped in May. In comparison, April construction raised to a 1.81 million rate, the highest since 2006.

The commodity's price fell to the lowest it has been since September as interest rates continue to rise.

New research by The Federal Reserve Bank of Philadelphia finds post-forbearance options falling short of payment-reduction goals set forth by FHFA and HUD.

President Biden used a rare meeting with Federal Reserve Chair Jerome Powell to declare that he’s respecting the central bank’s independence — while simultaneously shifting responsibility for taming decades-high inflation ahead of the November midterms.

Former FHFA director Mark Calabria said the mortgage market was a “ticking time bomb” on track for a 2008-like crisis. Other experts foresee a tamer end to the bull housing market.

The world’s richest nation is waking up to an unpleasant and unfamiliar sensation: It’s getting poorer.

Without sustained price relief, a downturn is possible for later this year, rather than in the second half of 2023.

Preliminary data from the trade group indicates that mortgage lenders an average of 5 basis points earned per loan as costs reached an all-time high.