Economy

But the lower rates of the past month did result in a $7-billion boost to its origination forecast for 2022.

Former Treasury Secretary Lawrence Summers said that the latest U.S. inflation numbers were encouraging and that the coming likely recession may arrive later than previously thought. 

This was the fifth week in a row the Freddie Mac Primary Mortgage Market Survey reported a decline in the 30-year rate after peaking at 7.08%.

New data offered the strongest evidence yet that price pressures have peaked.

Nonbanks would have to inform the CFPB of any state or local court decisions against them involving consumer financial products, under a new proposed rule. That information would be pooled with data about federal violations and be made available to the public.

The cut occurred across departments and included the dismissal of the company's head of mortgage.

Following peaking at 7.08% on Nov. 10, the 30-year fixed has come down three-quarters of a percentage point, Freddie Mac said.

New York, Chicago and Philadelphia led the list of large metropolitan markets considered vulnerable to a downturn, based on analysis from Attom.

The benchmark 10-year Treasury in particular tumbled 11 basis points between Wednesday's close and Thursday's open.

Allowing Fannie Mae and Freddie Mac to buy these loans encourages consumers to purchase more expensive homes, the group said.

Approximately 41% of respondents to a LendingTree survey think one will occur in the next 12 months, with three-quarters feeling it may be worse than in 2008.

The homeownership gap between Black and white populations has widened in the years since the Great Recession, putting obstacles in the way of achieving wealth for a large percentage of Americans. How did we get here, and what do the housing and home lending industries need to do to change the current course?

A group of House lawmakers on both sides of the aisle is pushing to expand the Low-Income Housing Tax Credit as the supply of affordable housing remains tight.

Almost half of the 388 respondents to a new survey said a scenario where growth continues to slow while inflation remains elevated will dominate globally next year.

Living next to an ALDI's, Trader Joes or Whole Foods increases home price appreciation, according to an Attom report.

But the rapid drop could be enhancing the volatility that is keeping buyers out of the market, Freddie Mac said.

However, the downturn will be brief and housing will lead the way out, the government-sponsored enterprise concluded.

One week following the Consumer Price Index data release, the 30-year fixed rate loan is 47 basis points lower, while the 15-year is down 40 basis points, Freddie Mac said.

A heated panel discussion sponsored by the Federal Housing Finance Agency raised questions about the funding, structure and mission of the Home Loan banks.