Technology

Mortgage rates rose for a second week, extending an increase in borrowing costs from an eight-month low.

Some regional and large community banks are retaining more mortgages for investment because better-than-average deposit growth has given them extra cash they need to deploy. However, they are selective about which mortgages they keep.

Mortgage application volume increased a week after Memorial Day behind a surge in both refinance and purchase mortgage activity.

Lenders are relaxing overlays and adjusting pricing to attract more VA business.

The housing market is unseasonably weak due to consumers' worries about an economic slowdown and a decline in overall household income, according to a Fannie Mae survey.

The reduction in mortgage demand has some credit unions reaching down to slightly lower credit scores.

Economic growth will rebound in the second quarter, averaging 3.1% over the next six quarters, but the housing market may not be as strong due to constraints on lending, according to bank economists.

Small lenders have slashed their payrolls by 9,000 workers this year.

Home price appreciation during the first quarter of 2014 resulted in 312,000 borrowers regaining equity in their properties.

Nearly twice as many direct lenders are offering electronic disclosures to consumers now as they were only one year ago, and most of the consumers are opting to use them.