Sales of new homes in the US were little changed in October near the strongest pace since 2023 as builders lured anxious customers with price cuts and incentives. Processing Content New single-family home sales eased 0.1% to an annual rate of 737,000 following a 3.8% September increase, according to government data released Tuesday. The report, […]
Sales of new US homes hold close to fastest pace since 2023 Read More »
Tasos Katopodis/Photographer: Tasos Katopodis/Ge The Trump administration has more housing initiatives under consideration beyond recently-announced mortgage bond purchases and these reportedly may include an executive order aimed at expanding use of retirement and education savings accounts for home purchases. Processing Content “Stay tuned for the president’s speech in two weeks at Davos, I think you’ll
Trump weighs retirement, education funds for home buying Read More »
A mostly flat December jobs report points to more of the same for housing and mortgage markets. Processing Content The U.S. added 50,000 non-farm payroll jobs last month, while the unemployment rate came in at 4.4%, according to the Bureau of Labor Statistics. The numbers edged down from 64,000 new jobs in November and a
Latest jobs report quashes rate cut expectations Read More »
Insurance-in-force growth at the government-run Federal Housing Administration will continue to outpace its private counterparts going forward because of the current state of the housing market, a Keefe, Bruyette & Woods report said. Processing Content The market share (based on IIF) split between the two products has been narrowing since the third quarter of 2022.
FHA usage will continue to outgrow private MI in 2026 Read More »
Housing starts in the US fell in October to the lowest level since the onset of the pandemic as data delayed by last fall’s government shutdown showed builders continued to cut back amid still-high prices and mortgage rates. Processing Content New residential construction decreased 4.6% to an annual rate of 1.25 million homes in October,
US housing starts fall to lowest level since May 2020 Read More »
New York is the latest state to implement a nonbank Community Reinvestment Act, with laws already in place in Massachusetts and Illinois and one pending in New Jersey. Processing Content While it will be a compliance burden for these lenders, at least one nonbank executive also thinks it is an opportunity. A regulation has been
New York joins states imposing CRA on nonbank lenders Read More »
Mortgage rates are starting 2026 marginally higher, according to Freddie Mac, with many observers expecting them to approach and possibly even move below the 6% barrier. Processing Content “In the first full week of the new year, mortgage rates remained within a narrow range, hovering close to the 6% mark,” said Sam Khater, Freddie Mac’s
Conforming mortgage rates should remain around 6% in 2026 Read More »
Loan credit availability increased from a year earlier but finished 2025 at its tightest in three months, as conforming products in particular took a notable dive, according to the Mortgage Bankers Association. Processing Content Across-the-board pullbacks, led the MBA’s mortgage credit availability index to drop 2.6% in December to a reading of 104.7 from November’s
Mortgage credit slips from peak as conforming products retreat Read More »
Guild Mortgage will be using Loanlogics’ LoanBeam NQM to assist in underwriting its non-qualified mortgage production by automating the income analysis process. Processing Content “Non-QM mortgages create greater potential for lender error due to the unconventional financial profiles of borrowers who don’t typically meet standard income, employment or credit criteria,” said Dave Parker, Loanlogics’ CEO,
Guild uses LoanBeam to speed non-QM income underwriting Read More »
United Wholesale Mortgage is running a pricing promotion in honor of its 40th anniversary. Processing Content Under this latest program, UWM 40, mortgage brokers have a 40-basis-point pricing incentive through the end of February on conventional, Federal Housing Administration, Veterans Affairs and U.S. Department of Agriculture mortgages. It can be applied to purchase loans as
UWM offer pricing promo to brokers for its 40th anniversary Read More »