Housing markets

Falling mortgage rates resulted in a slight uptick in credit availability in August, the Mortgage Bankers Association research showed.

Housing experts who had previously worked at Fannie Mae and Treasury debated government support for long-term fixed-rate mortgages at a Cato Institute event.

Opendoor Technologies Inc. shares surged by as much as 69% Thursday after announcing the return of its co-founders to the board and a new chief executive officer. 

Consumer prices rose 0.4% in August, up from 0.2% in July, as weak job growth and lingering tariff uncertainty reinforce expectations for a September Fed rate cut.

Falling interest rates led to a rush in refinancing, but slowing purchase activity brought a decline in overall lock volumes, according to Optimal Blue.

An atypical summer for home price growth and mortgage rates approaching their lowest point in 12 months could entice sidelined buyers, Cotality said.

While August's views on buying conditions and rates increased over July, the other components in Fannie Mae's sentiment index all declined, driving it lower.

The 30-year conforming fixed rate mortgage ended this week at its lowest since last Oct. 17, helped by bond traders pricing in a reduction in short-term rates.

As Washington weighs a national housing emergency, U.S. homeownership has slipped year-over-year, according to Redfin.

A pickup in refinances was offset by the first pullback in purchases in four weeks in the run-up to Labor Day, according to the Mortgage Bankers Association.