Mortgage rates

Wells Fargo & Co. is cutting 638 mortgage employees as the nation’s largest home lender contends with a slowdown in the business.

Home prices climbed 6.5% in the second quarter from a year earlier, a slower pace that adds to signs of a cooldown in the market.

Intensifying margin pressure could spur another wave of cost-cutting at nonbank mortgage lenders, unless other strategies, like consolidation or a mortgage servicing book that could increase in value, offset it.

Purchases of new homes unexpectedly dipped to the weakest pace in nine months as higher prices and mortgage rates sideline demand, adding to signs of a cooling in the housing market.

Mortgage rates decreased for the third straight week and reached their lowest level since mid-April, according to Freddie Mac.

Better consumer credit quality helped push the serious mortgage delinquency rate to its lowest level since the Great Recession, but originations remain low due to tighter underwriting standards and eroding homebuyer affordability, according to TransUnion.

The expiration of Annaly Capital Management's offer to purchase MTGE Investment Corp. was delayed until Sept. 7 so the two real estate investment trusts have more time to satisfy deal conditions.

An improved economy, a healthy labor market and the large population of millennials should have accelerated home sales much higher, but all hope for more transactions this year is not yet lost, according to the NAR.

Fannie Mae decreased its 2018 origination forecast for the fourth time this year in anticipation of more upward pressure on rates, and housing weakness that persists despite increased overall economic strength.

Average mortgage rates fell, including the largest week-over-week drop of the past 12 months, but homebuyer demand stays mum, according to Freddie Mac.

Mirroring a national trend of rebounding home prices and rising mortgage rates, Palm Beach County, Fla., saw housing affordability fall to a 10-year low in the second quarter.

New-home construction rose less than forecast in July amid a rebound in groundbreaking for single-family and multifamily houses, indicating the industry was trying to regain its footing at the start of the second half.

Purchase-loan share held steady month-to-month for the first time this year, even though it is still above year-ago levels in line with a seasonal decline, but growth remains in the forecast.

Mortgage applications waned for the fifth week in row, hitting their lowest levels in six months, as the summer's growing interest rates plateaued.

Homes in the Toledo, Ohio, area continued to sell quickly as they have done now for two years.

Confidence among homebuilders fell to an 11-month low in August on rising construction costs and shortages of skilled labor, a National Association of Home Builders/Wells Fargo report showed.

As housing affordability continues eroding on growing property values and mortgage rates, nearly a quarter of millennials believe they need to delay having children to afford a home purchase.

The risk of mortgage defaults reached its highest point since the second quarter of 2015 as lenders loosen credit, according to VantageScore.

Mortgage rates took a small step back due to affordability pressure after climbing for the past two weeks, according to Freddie Mac.

Mortgage applications declined for the fourth consecutive week as interest rates remained at high levels.