Mortgage Banking News, Rates & Policy
Mortgage industry coverage for bankers, including mortgage rates, lending trends, housing policy, servicing, secondary markets and risk shaping the mortgage market.
Originators slightly loosened credit for conventional and jumbo products in May but they've held steady after larger growth to begin the year.
The 30-year fixed rate mortgage average not only remains where it was in September, it is still nearly a half-percentage point above February's trough.
The government MBS guarantor ended a 15-day advance notice mandate for extensions on a filing deadline so those with a March 31 due date can still ask for one.
The Mortgage Bankers Association now predicts a Federal Reserve rate hike to arrive in 2027, as housing price growth also slows over the next two years.
Freddie Mac was more aggressive than its counterpart for much of the past year but March activity establishes that there's a different trend at play in 2026.
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The Bureau of Labor Statistics Friday reported that the economy added 172,000 jobs in May and revised March and April's employment upward, making the Federal Reserve less likely to cut interest rates to support the labor market in the near term.
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Mortgage industry participants say Federal Housing Finance Agency Director Bill Pulte's new role as acting director of national intelligence could imperil progress on a potential initial public offering of Fannie Mae and Freddie Mac.
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Analysts said Bill Pulte's new additional role as spy chief will further delay GSE privatization efforts, although that could change if he formally departed.
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Bank of Nova Scotia agreed to acquire Maple Financial Holdings Inc., which owns a small US commercial bank, as the Canadian firm looks to expand its structured-finance business in the American mortgage industry.
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Foreclosure filings were reported on 42,430 properties in the United States last month, down 8% from the month prior but up 18% from a year ago.
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The Federal Housing Administration put an end to pandemic-era relief last year, triggering a 28% jump in foreclosures on FHA loans in the first quarter and an expected spike in defaults ahead.
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A revised Basel III endgame proposal from the Federal Reserve would fundamentally change the economics of mortgage lending for banks — improving returns, reshaping pricing and reopening a market they sidelined.
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While disparate impact has never been under greater legal pressure, its influence on the future of housing policy and even employment continues to grow, showing that reducing discriminatory effects is good for business.
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Market mavens love to wax poetic about the so-called resilient consumer, but the reality is consumer spending is largely underwritten with credit, so it makes sense to keep an eye on credit trends.
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