Investments

The Federal Reserve is expected to pause at its September meeting. Jeff Timlin, a managing partner at Sage Advisory, will join us on Sept. 21 to provide analysis of the meeting.

The current Treasury yield curve is leading homeowners to pay mortgage rates at least 120 basis points more than they should, equal to an extra $245 a month on a $300,000 loan, their letter said.

Top Fed officials are coalescing around the idea that tighter financial conditions after a recent surge in U.S. Treasury yields may substitute for additional increases in their benchmark interest rate.

The share of residential property buyers that put themselves in the most optimistic category jumped notably in the latest edition of an RCN survey.

A new label and disclosures for certain mortgage securities may create more of an impetus for lenders to extend credit to underserved populations.

The real estate investment trust arm of two affiliate mortgage-related companies could reduce other debt and finance purchases of loans, servicing or securities.

But at the same time, the publicly traded company is selling off another type of housing finance asset to some large depository institutions.

Over 150 former staff of the real estate investment lender that was acquired by Roc360 earlier this year are among the founding team of the new venture named CV3.

"There is nothing that is saying we need to do anything imminent anytime soon," the Federal Reserve governor said in an interview on CNBC Tuesday.

The top three cities have an average payback period of just over 21 months on a 20% down payment.

The bottom three cities have an average payback period on a 20% down payment of more than 78 months.

New mortgage bonds now offer yields that are about 1.66 percentage point higher than U.S. Treasuries, according to data compiled by Bloomberg. That's the most relative to corporate bonds in 17 years. 

Stock futures fluctuated on Wednesday as the latest data showed the U.S. economy expanded at a slower rate than previously thought in the second quarter, fueling speculation the Federal Reserve is nearing the end of its rate-hike cycle.

The lender's share price fell 93% Thursday as the industry reckoned with average mortgage rates hitting a 22-year high.

The lender, which endured two difficult years of limbo before its listing, is touting a capital infusion of at least $550 million as a key to future growth.

It notched relatively higher returns after betting on asset-backed securities with a rotation out of mortgage debt and collateralized loan obligations.

While the share is slightly lower than at the start of 2023, the market is not expected to slip back to lower pre-pandemic levels, CoreLogic said.

The agency's president, Alanna McCargo, called the nonbank liquidity issue "the biggest of our time," while speaking at the Bipartisan Policy Center Tuesday.

Moody's said higher funding costs, a potential decline in bank capital and growing risk in the commercial real-estate industry prompted many of the downgrades.

The yield on 30-year securities has climbed almost 25 basis points over the past three sessions, returning it to levels last seen in mid-November when inflation was still above 7%, more than double the current rate. Ten-year borrowing costs rose to around 4.15%.