Mortgages

US mortgage rates dropped last week by the most since February, enticing homeowners to step up refinancing.

Say goodbye to Fannie Mae form 1004 and various addendum as lenders and appraisers have to get ready to work with the Uniform Residential Appraisal Report.

New residential construction increased 5.2% last month to an annualized rate of 1.43 million homes, according to government figures released Tuesday.

Home Depot Inc. sales returned to growth in the second quarter as shoppers invested in smaller projects, such as lighting and gardening.

Fannie Mae economists toned down their housing and economic outlook in August, predicting fewer home sales and less mortgage origination volume versus July.

Nonbank lenders saw production income surge, returning to the black for the first time in three quarters, according to the Mortgage Bankers Association.

Borrowers affected by the blazes are also reeling from homeowners insurance woes, contractor shortages and inflation making rebuilding difficult.

Among the nation's 50 largest metropolitan areas, 25 had annual price increases in July, while the others recorded price declines, Zillow found.

The tests modeled how Fannie Mae and Freddie Mac would fare after absorbing losses like a total $36.1 billion provision in credit losses in a severe downturn.

The since-defunct lender, which was purchased by Newrez in 2021, agreed to pay a $1.8 million penalty and has refunded over $550,000 to borrowers.