Most of this week’s mortgage rate movement has been an aftershock following last week’s jobs report. That data sent rates quickly higher and that momentum has gradually faded over the past few days. In fact, yesterday finally saw an improvement. Now today, things are minimally changed, depending on the lender. Most lenders issued at least […]
Mortgage Rates Broadly Sideways Read More »
Panorama Mortgage Group, parent company of several lenders focused on affordable homeownership, announced the launch of a new mission-driven wholesale and corresponding lender aimed at making funding available to first-time buyers. The Las Vegas-based company unveiled Travisa Financial, which it created in response to what it saw as a demand for partnerships among many third-party
New Panorama TPO targets first-time buyer lending Read More »
Fannie Mae, a large government-sponsored enterprise serving the U.S. mortgage market, is expanding its limited title waiver pilot, according to a social media post by its conservator and regulator. “Effective today, in order to further reduce closing costs for homeowners, and foster more competition, we will be adding a second vendor — Westcor — to
Fannie Mae expanding title waiver pilot, Pulte says Read More »
Federal Reserve Gov. Christopher Waller.Bloomberg News Federal Reserve Gov. Christopher Waller said the central bank does have a problem with income losses, but interest paid on reserves are not to blame. In a speech delivered at the Federal Reserve Bank of Dallas on Thursday, Waller made the case that the true source of the Fed’s
Waller says QE to blame for Fed losses on reserve interest Read More »
Adobe Stock/Usman Zafar Paracha Momentum is building around agentic AI, as banks like JPMorganChase, Capital One and BNY start to adopt it. For managers used to leading teams of junior workers (whose tasks these agents are typically taking on), these digital workers will present new management challenges. Agentic AI takes a large language model like
Digital workers are coming. Managing them is a new challenge Read More »
U.S. Senator Maggie Hassan, a Democrat representing New Hampshire and ranking member of the Joint Economic Committee, announced a “broad new effort to protect people from financial scams” in a press release on Thursday. The initiative directly targets concerns highly relevant to U.S. banks and credit unions, including the proliferation of fraud on payment platforms
Sen. Hassan vows crackdown on fraud and AI-driven scams Read More »
The stronger-than-expected employment report is the catalyst for ending a five-week streak of declining mortgage rates, Freddie Mac reported. The 30-year fixed rate mortgage averaged 6.72% as of July 10, a gain of 5 basis points compared with the prior week when it averaged 6.67%, the Freddie Mac Primary Mortgage Market Survey reported. But it
Mortgage rates turn upward on strong jobs data Read More »
Treasuries slipped ahead of a sale of 30-year US bonds that will provide a fresh test of demand for the type of long-dated government debt that has been under pressure globally. US 10-year yields were two basis points higher at 4.36% Thursday morning in New York, trimming a decline of seven basis points the previous
US treasuries edge lower ahead of 30-year bond auction Read More »
The real estate industry is facing a $173 million problem. That, according to the FBI, is how much consumers lost to real estate fraud in 2024. It’s a 19% increase from the previous year, and many analysts expect that number to keep rising in the coming years, spurred on in part by AI. AI is
How AI-powered scams are targeting real estate deals Read More »
There are plenty of headlines these days calling for a housing market crash. But the truth is, they’re not telling the full story. Here’s what’s actually happening, and what the experts project for home prices over the next 5 years. And spoiler alert – it’s not a crash. Yes, in some local markets, prices are
The Truth About Where Home Prices Are Heading Read More »