Mortgages

But economists seem to differ on what the latest movement in mortgage rates means for the summer home sales business.

Finance of America has $350 million of notes coming due next year and wants to trade them for $200 million of secured debt coming due in 2026 and $150 million maturing in 2029.

The pace of growth is more than double the recent historical average, adding further affordability hurdles for some homeowners.

Across the country over the past two years, the share of homes affordable to a first-time home buyer has fallen to 29% from 34% in 1Q23 and 45% in 1Q22, First American Financial said.

New York Mortgage Trust's 9.125% notes due 2029 may help fund new purchases of mortgages and securitizations in the private or agency markets.

Almost two-thirds of those aged 55 or over said they are sentimental about the house they have occupied long-term.

The sales pace is now at the low end of the range seen over the past year, suggesting limited momentum amid a lack of affordability.

Borrowers in the government-purchase market returned to the table in greater numbers, as rates declined, the Mortgage Bankers Association said.

A tough mortgage market has pushed some lenders to shed their middle management as a way to cut costs. This has ignited debate around what value regional and divisional managers bring to the table.

Local governments must use funds to address hurdles in zoning, financing and infrastructure to produce new units and preserve others.

North American firm Voxtur Analytics said a U.S. mortgage investor group backing a new slate of board nominees hadn't provided some information Canada requires.

Cook expects three- and six-month inflation rates to continue to move lower on a "bumpy path," with monthly data similar to the "favorable" readings seen in the second half of 2023 for the rest of the year.

The announcement comes as the bureau's director regularly voices doubts about whether algorithmic models can be entirely nondiscriminatory and warns companies of potential enforcement from violations.

A national measure of prices rose 6.3% from a year earlier, less than the 6.5% gain in March, according to data from S&P CoreLogic Case-Shiller.

But those in opposition are still giving the agency props for how it carried out the new product approval process for the first time.

The Department of Justice filed an amicus brief in a case that also involves the National Association of Realtors and its rules around multiple listing services.

The income needed to afford a typical apartment is the highest since 2022.

Potentially limiting the Federal Reserve's ability to cut rates is the growing view that the economy's so-called neutral rate — a theoretical level of borrowing costs that neither stimulates nor slows growth — is much higher than policymakers are currently projecting. 

The top five banks have a combined unpaid principal balance of more than $1.8 trillion at the end of Q1 2024.

The move allows Freddie Mac to start purchasing certain second lien mortgages, but establishes limits on how much volume it can do.