Mortgages

Housing experts who had previously worked at Fannie Mae and Treasury debated government support for long-term fixed-rate mortgages at a Cato Institute event.

Opendoor Technologies Inc. shares surged by as much as 69% Thursday after announcing the return of its co-founders to the board and a new chief executive officer. 

Properties with default notices, scheduled auctions and REOs are up by double digits compared to last summer as buyers are mired in a high-cost environment.

The opening trades were at $11 higher than what Figure priced the initial public offering, and in early action, the stock has ranged from $32 to $37 per share.

The 30-year fixed rate mortgage had its largest decline in a year as it is universally anticipated the Federal Open Market Committee will cut short-term rates.

The company valued its 31.5 million share common stock sale at $25 per share, higher than the last announced expected range of between $20 and $22.

Consumer prices rose 0.4% in August, up from 0.2% in July, as weak job growth and lingering tariff uncertainty reinforce expectations for a September Fed rate cut.

Consumers are more interested in reporting rental pays to the credit bureaus as landlords become less involved, according to TransUnion.

Falling interest rates led to a rush in refinancing, but slowing purchase activity brought a decline in overall lock volumes, according to Optimal Blue.

Fairway Home Mortgage wants to give its loan officers tools to analyze data in order to spend more time helping their customers than going through paperwork.