The 10-year yield has had a wild ride today, but now is an excellent time to look at my macro take on the labor market and explain what the Fed is looking... Read more »
Mortgage rates remained stable this week as the personal consumption expenditures (PCE) inflation report matched economists’ expectations. As a result, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional... Read more »
The current global market cap for “equity release” products, including reverse mortgages, could hit $50 billion by 2033, more than doubling its current size. This is according to a report compiled by... Read more »
Though all signs point to a cooling labor market overall, the economy picked up another 275,000 jobs in February. The jobs report on Friday is unlikely to convince the Fed that rate... Read more »
Fannie Mae announced on Wednesday an enhancement to its desktop underwriting system, which will facilitate the asset, income, and employment verification process through a single data source. Lenders can use a single 12-month asset... Read more »
Top 10 U.S. mortgage lender Fairway Independent Mortgage Corp. sustained a cyber attack in early December due to vulnerabilities in a vendor system, the company told the Massachusetts Office of Consumer Affairs and Business... Read more »
Government-sponsored enterprise (GSE) Freddie Mac reported a 65% annualized increase in income stemming from its single-family mortgage programs in fourth-quarter 2023, along with a 13% increase in net income for the full... Read more »
Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. After enduring challenges stemming from higher interest rates,... Read more »
Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. There’s some optimism, however. With... Read more »
There has been much back and forth in the industry about reporting for short-term rentals — who should complete the report and what form should be used? Previously, the only way to... Read more »