Mortgages

JPMorgan Chase's asset-management arm entered into a deal to acquire more than $1 billion of single-family rentals, a sign that choppy markets haven't scared investors away from suburban housing.

The gain of 3 percentage points in 2022 reinforced industry calls for the agency's mortgage insurance premium to be slashed when the current fiscal year federal budgeting process is completed.

Choices of which homes are used for comparisons play a major role in disparate home valuations for Black and white homeowners, according to studies recently released by the National Community Reinvestment Coalition and academic researchers.

Treasury Secretary Janet Yellen called October's positive inflation report in the U.S. "a good reading," but cautioned against relying too much on one data point.

Bank regulators are considering a measure that would rewrite the rules implementing the Community Reinvestment Act. They should consider taking their existing rules seriously.

It came as a surprise to many housing experts that Asian, Black and Hispanic homeownership rates all jumped last year by more than 2 percentage points, according to quarterly Census Bureau data.

The acquisition, which was originally expected to close at the end of last year, ultimately took more than 18 months to receive regulatory approval. It is now expected to close on Dec. 1.

Delinquencies are on the rise for FHA-backed loans, with nearly 10% of low-credit borrowers in early payment default. Economists and policy experts say this could signal trouble ahead for other credit products.