Investments

Wall Street dealers expect Bessent to signal as soon as Wednesday, when his department releases a quarterly statement on debt sales, that issuance in the $30 trillion Treasury market will keep shifting in that direction.

Company officials credited recent mortgage rate pullbacks, a nonagency servicing partnership and Improvements in technology behind recent momentum.

RoundPoint's corporate parent generated positive comprehensive income with the legal expense excluded and expanded its subservicing activity.

Will the Federal Reserve cut rates in October? BNP Paribas Chief U.S. Economist James Egelhof discusses the meeting and Chair Jerome Powell's press conference.

The shutdown started with a flight into treasury bonds, putting downward pressure on financing costs, but several other developments slowed mortgage activity.

Since the end of July, UWM's common stock price gained 55%, but an improved mortgage origination outlook was already accounted for, said Jeffrey Adelson.

Investment purchases surged to their highest share in five years in the second quarter, even though total volume decreased from 12 months earlier.

The opening trades were at $11 higher than what Figure priced the initial public offering, and in early action, the stock has ranged from $32 to $37 per share.

The company valued its 31.5 million share common stock sale at $25 per share, higher than the last announced expected range of between $20 and $22.

Treasuries rose, led by short-dated notes, after a reading on wholesale inflation came in weaker than expected, cementing bets that the Federal Reserve will start to cut interest rates next week.