Mortgages

New home construction in the US slumped in May to the slowest pace in four years, as higher-for-longer interest rates sap the housing industry's momentum from earlier this year.

Average loan-to-value ratios fell in NPL sold at both influential government-related mortgage investors, according to a Federal Housing Finance Agency report.

Title insurers did nearly $3.4 billion in premiums during the first quarter, similar to 2023, even though mortgage dollar origination volume was up over 13%.

The decline for the third consecutive week reflects investors' belief that the Federal Open Market Committee is likely to cut rates this year.

The company says consumer interest has been "fantastic", although it's not disclosing application figures nor how much money it's set aside to fund the offering.

U.S. homebuilder sentiment unexpectedly declined in June to the lowest level this year as mortgage rates near 7% limited prospective-buyer interest and weighed on the demand outlook.

Activity grew at a slower pace from seven days earlier, as refinance volume retreated, according to the Mortgage Bankers Association.

The Federal Housing Administration floated a mortgagee letter that increases a funding entity's responsibility for the actions of correspondents or brokers.

The agency is giving funds to 23 providers in 15 states and the District of Columbia.