Economy

Houses in 85% of the nation's metropolitan areas are considered overvalued, with more than half of those by 10% or above, Fitch Ratings found.

Federal Reserve Vice Chair Philip Jefferson said in a speech Wednesday that elevated tariffs will likely lead to inflation, but time will tell how impactful that spike in prices might be.

The increase in purchase mortgage rate lock volume provides support for those looking for a strong Spring market this year, Optimal Blue found.

Price growth continued to trend toward the Federal Reserve's 2% target, but not enough to spur action from the central bank.

All of those surveyed by Wolters Kluwer for its May Blue Chip Economic Indicators report ruled out the possibility the Fed could raise short-term rates.

A 90-day pause on reciprocal tariffs between the U.S. and China boosted the near-term economic outlook for banks, but tensions and uncertainty around trade barriers remain high.

Federal Reserve Gov. Adriana Kugler said in a speech in Dublin that trade barriers could soon affect prices and slow down growth while increasing uncertainty in 2025.

The first quarter showed a narrowing in the market share spread between the six active underwriters, but that was before April's economic uncertainty.

The jobs report and FOMC meeting caused some movement but rates ended up where they started; but any unexpected news could result in swift changes either way.

FHFA Director Bill Pulte has prioritized targeting fraud, including proposing a tougher Suspended Counterparty Program and debuting a mortgage fraud tip line.