Mortgages

But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.

Despite pressure from the Consumer Financial Protection Bureau, the embattled Appraisal Foundation tapped its longtime second-in-command to be its next president.

The Justice Department and the CFPB are increasingly relying on emails among employees that contain discriminatory comments to strengthen their hand in cases against lenders.

Instability in mortgage rate movements should continue in the weeks ahead, even with Fed Chairman Jerome Powell's comments on inflation.

The questions about whether the Home Loan banks receive a public subsidy has been settled. All that remains is for lawmakers to take steps to redirect that subsidy toward public benefits rather than corporate profits.

A trio of Republican Congressmen stated they will investigate how the program got fast-tracked by the Biden Administration.

Industry veterans are wary of prospective borrowers who can't pay for agents, and of compensation guidelines clashing with government mortgage lending programs.

The head of the Consumer Financial Protection Bureau summarized his findings from a yearlong probe into the Appraisal Foundation. He says the "lawmaking body" is not accountable to the public or market forces.

The average 30-year fixed mortgage rate for conforming loans fell, according to Freddie Mac, even as the 10-year Treasury yield rose nearly 18 basis points from the start of this week.

While some said the agency was ignorant of its own rules, one trade group praised the goals of the posting.