Economy

Generally positive news about the U.S. economy helped push rates lower, but worries about Congressional infighting over the debt ceiling could reverse the trend, Freddie Mac and Zillow said.

But lower mortgage rates and better traffic have made homebuilders a bit more optimistic, the Mortgage Bankers Association said.

Gen Zers and millennials want to "test drive" potential long-term living arrangements and neighborhoods, Javelin Strategy and Research found in a recent survey.

High inflation, rising interest rates and increased economic uncertainty may be telegraphing a further slowdown in U.S. new household formation during the closing months of 2022.

The most extreme example of FOMC interest rate market manipulation in 2020 to 2021 has now created a huge potential risk for lenders and investors, writes the chairman of Whalen Global Advisors.

The 30-year fixed loan rate dropped 15 basis points compared with last week as bond market investors acted in advance of this morning's Consumer Price Index report.

The U.S. Supreme Court turned away four appeals from shareholders of the government-sponsored enterprises who said they were entitled to compensation after the Treasury collected more than $100 billion in profits from the government-sponsored enterprises.

Declining mortgage rates and home prices drove more positive views compared to the prior month, but December's overall outlook remained negative, Fannie Mae said.

However, the jobs picture for December was better than what was expected, the Bureau of Labor Statistics data found.

The sector is not immune to the same economic instability that affects the single-family residential market, the Mortgage Bankers Association said.

However, trackers from Optimal Blue and Zillow found that rates moved in line with the drop in the 10-year Treasury yield.

Difficult economic conditions will persist, with inflation and a potential recession weighing on minds, but investment in mortgage technology remains a priority, according to new survey research.

Special purpose credit programs, down payment assistance and potential mortgage insurance premium cuts came into focus over the past year.

The past 12 months were chock full of impactful changes to the home lending industry but keep an eye on these in particular in the new year.

But the 15-year interest rate rose last week, in line with 10-year Treasury yields, as bond investors used a quiet week to reflect on broader trends.

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.