Mortgages

Combining the two property preservation firms brings specialized technology and capabilities that Five Brothers has to MCS and broadens the operations of both.

The increase in production revenues was canceled out by higher expenses, a sign that too much capacity remains in the system, the Mortgage Bankers Association said.

Some potential sellers are realizing that waiting for lower rates might not be worth it given the amount of equity they have, Zillow said.

While prices for concrete, steel and gypsum products all increased, softwood lumber declined, the National Association of Home Builders said.

Cost of property coverage rose more than 55% over the last five years and it'll likely keep rising through 2024, a report from Guaranteed Rate found.

The average 30-year fixed mortgage rate for conforming loans fell, according to Freddie Mac, even as the 10-year Treasury yield rose nearly 18 basis points from the start of this week.

Gen Z and millennials are more willing to take a higher mortgage rate in order to buy a home than Gen X and baby boomers, the ServiceLink report found.

Doma leadership said it has the technology and underwriting capabilities to allow the government-sponsored enterprises to handle the risk refi loans eligible for title waivers under a pilot announced by President Biden last week.

The community development financial institution was the nation's top non-qualified mortgage lender last year, according to one ranking.

But still-elevated interest rates contributed to a "deteriorating outlook" for independent mortgage banks this year, Fitch Ratings said.

The nearly 50% homeownership rate in 2023 marked the most significant increase since the Great Recession, according to NAHREP.

A greater number of refinances, particularly in the government market, led overall volumes higher, the Mortgage Bankers Association said.

In an address on Tuesday, economic advisor Lael Brainard also discussed the controversy surrounding the president's proposed title waiver program.

Company executives are counting on Guild's recent acquisitions to buoy business once the market normalizes.

Voters approved Proposition C, which offers a tax break for developers to convert up to 5 million square feet of commercial space by 2030.

Some mortgage companies had to write down values in the fourth quarter due to increased prepayment risk, but many loans haven't been exposed to that concern.

The American Land Title Association, which represents the title insurance industry, argued that the program would not cut costs for those who really needed it.

While some said the agency was ignorant of its own rules, one trade group praised the goals of the posting.

Regardless of the effect housing prices have on ballot decisions, almost two-thirds of respondents indicate that current economic trends left them feeling negative about the economy, Redfin said.

At current levels, monthly payments could surge by 39% between 2023 and 2025 for an approximately $250,000 loan, according to new research.