Purchase

Purchase mortgage activity, which normally picks up in March and April, is getting an extra boost from an improving economy, the Mortgage Bankers Association reported.

PNC Financial Services said its residential mortgage business lost $13 million in the first quarter due to its servicing portfolio hedging activities and lower loan sales income.

PulteGroup's founder and largest stockholder hired lawyers from a shareholder-activism practice, a sign that he'll increase pressure to get Richard Dugas to step down immediately as the homebuilder's chief executive officer.

Consumers are feeling a growing pessimism about the direction of the economy that appears to be spilling over into the housing market in March, Fannie Mae said.

The majority of first-time homebuyers plan to skip the starter-home step and move straight into the home that would meet their long-term needs, according to the Homebuyer Insights Report from Bank of America.

Third Federal Savings and Loan in Cleveland has long offered mortgage refinancing in New Jersey, Pennsylvania, Maryland, Virginia and North Carolina and now it plans to offer purchase loans in those states.

Richard Dugas plans to retire next year after more than a decade as chief executive officer of U.S. homebuilder PulteGroup Inc., saying the company's founder wants a change.

Fewer lenders eased their credit standards over the previous three months, according to Fannie Mae's Mortgage Lender Sentiment Survey for the first quarter.

While the absolute number of housing markets that are less affordable than their historic norms remains small, there is concern over rising home prices forcing consumers out of the market, according to RealtyTrac.

Eight years after the crash, the housing market still awaits the return of the first-time home buyer. Beyond the struggle to build credit to meet stricter standards, and the difficulty saving for a down payment amid skyrocketing rents and surging student loan burdens, there lies an even simpler explanation: fewer choices.

Sales of previously owned U.S. homes dropped more than forecast in February as low inventory levels continue to limit progress in housing.

There are more millennial homebuyers in Boston and Pittsburgh than in the rest of the country's 50 largest cities, according to a study released Thursday by LendingTree.

A small Connecticut bank takes the plunge into mobile-friendly mortgages in a bid to turn an attractive pool of student-loan borrowers into lifetime customers.

Maine Savings Federal Credit Union in Hampden has introduced a program to give homebuyers up to $15,000 in down payment and closing costs.

It took an average of 46 days to close a residential mortgage loan in February, the shortest closing time since May, according to Ellie Mae.

Single-family housing construction is set to top multifamily start for first time since the financial crisis.

Contrary to popular narrative, low interest rates are one of the reasons to be excited about the long-term outlook for housing.

New home purchase mortgage application volume increased month-over-month in February, as mild weather and low rates encouraged a busy start to the spring buying season, the Mortgage Bankers Association said.

Cities may be the top choice for millennials who rent apartments, but young homebuyers are moving in droves to the suburbs, where prices are lower and backyards are plentiful.

Mortgage applications ticked up slightly last week, as low refinance activity continued to offset gains in new purchase applications, the Mortgage Bankers Association said.