Mortgages

The 30-year fixed rate mortgage fell by 5 basis points, with the Consumer Price Index showing muted inflation and jobs data still influencing the market.

Fannie Mae has issued guidelines for how mortgage companies should apply temporary buydown funds in workout situations and clarified notification requirements.

Product and pricing engine provider Optimal Blue has rebranded almost two years after the company was sold by Black Knight to Constellation Software.

Between rising home costs and the end of mortgage relief programs, many homeowners are struggling to stay above water, especially in the South and West.

Delinquencies within the segment eased from the first quarter to the second, but prepayments increased, Morningstar DBRS reported.

While private mortgage insurance still has a larger share of business than the Federal Housing Administration, the gap will continue to narrow through 2027.

Gen Z and Millennial homeowners also face unexpected expenses after closing, underscoring need for more education on the part of mortgage professionals.

The contract rate on a 30-year mortgage declined 10 basis points to 6.67% in the week ended Aug. 8, according to Mortgage Bankers Association data released Wednesday.

Approximately 60% of economists surveyed by Wolters Kluwer believe the Federal Open Market Committee will act at its next meeting with a 25 basis point cut.