Marketing

Purchases of new homes declined in October to a four-month low, showing the residential real estate market began to soften a month prior to a jump in borrowing costs.

First Community Mortgage has added six loan products to its menu, each targeted to borrowers who are not eligible for a conforming or government mortgage.

Sales of previously owned homes unexpectedly climbed in October to the highest level since February 2007, a sign of momentum in the housing market a month before a jump in borrowing costs.

The Consumer Financial Protection Bureau has formally appealed an October court ruling that undercut the agency's independent status, arguing that the decision laid out a theory of separation of powers without precedent in case law or the Constitution.

The yield on the 10-year Treasury Note will be 2.5% to 2.75% a year from now if President-elect Donald Trump pushes through his proposed tax cuts and fiscal-spending policies, said Michael Kushma, chief investment officer for global fixed income at Morgan Stanley Investment Management.

New-home listings declined significantly in October even as increased demand continued to drive faster sales times and higher prices, according to Redfin.

New-home construction jumped to a nine-year high in October as an outsized advance in the number of apartment projects accompanied a strong pickup for single-family housing.

The spike in borrowing costs in response to President-elect Donald Trump's pro-growth agenda is causing some heartburn in America's housing industry.

Even with Republicans controlling both Congress and the White House, it's highly unlikely the Consumer Financial Protection Bureau will be completely eliminated. However, under the new presidential administration's oversight, many of its more aggressive policies will likely change.

Lenders have the most consumer-facing role in the mortgage industry. By adopting three cultural adjustments, they can introduce more diversity into the workforce and create sustainable businesses and stronger communities.