Mortgages

The volume of home equity lines of credit expanded for the 14th consecutive quarter, driven largely by fintechs and other nonbanks that are accounting for more and more of the business.

Financial literacy advocate John Hope Bryant has joined with a Los Angeles-based developer in an effort to raise up to $300 million from banks to preserve and construct low-income housing around the country.

Until August, Bell was the executive director for loan guaranty service at the Department of Veterans Affairs, where he was credited with growing the program.

The 30-year rate dropped just 0.2 percentage points, as Federal Reserve Chair Jerome Powell's recent comments caused Treasury yields to rise.

The company cited efforts to improve profitability behind its decision, with Popular joining a line of other banks in ending mortgage operations in 2025.

Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.

While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.

Allowing lenders to base mortgage decisions on single- or double-pull credit reporting would result in more risk to banks, and higher costs for borrowers.

Federal Reserve Governor Stephan Miran said the economic standoff with China could increase market volatility, further necessitating the central bank to move its policy stance to neutral.

While new jobs data contributed to falling Treasury yields, mortgage rates showed a mixed picture with some trackers moving in opposite directions.

The credit scoring agency's rollout comes after years of criticism from home lenders over its prices, with delivery costs rising over 40% in the past year.

As the government shutdown stalls key housing programs, lenders are shifting tactics to keep loans moving and preparing for bigger challenges ahead.

The shutdown started with a flight into treasury bonds, putting downward pressure on financing costs, but several other developments slowed mortgage activity.

The Federal Housing Finance Agency director should spend less time on partisan attacks and social media posting, and more on trying to resolve the housing crisis.

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.

Both Fannie Mae and Freddie Mac made similar changes to their policy when it comes to disclosures and retention rules for an appeal of a valuation.

The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.

The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.