Mortgage rates remain below the 50-year average, but most homebuyers see them as unusually high — a perception that is driving stress, delaying purchases, and reshaping major life decisions, according to a nationwide survey conducted in August. The survey of more than 1,000 buyers, released this week by Tomo Mortgage, highlights the gap between economic […]
Homebuyers strained by costs, confused about mortgage market Read More »
With the oldest members of Generation X set to turn 60 by the end of 2025, many are approaching retirement with financial concerns. Northwestern Mutual’s 2025 Planning & Progress Study, released this week, found that more than half (54%) of Gen Xers born between 1965 and 1980 don’t believe they’ll be financially ready when retirement
Most Gen Xers doubt their retirement readiness Read More »
Today’s inflation report (the Consumer Price Index or CPI) certainly had a chance to create volatility for rates, but things ended up staying fairly calm. There are multiple subheadings of data that the bond market cares about when it come to CPI. Most of them were in line with expectations, or close enough to avoid
Mortgage Rates Move Back to Long-Term Lows Read More »
Opendoor Technologies Inc. shares surged by as much as 69% Thursday after announcing the return of its co-founders to the board and a new chief executive officer. If the advance holds it will be the biggest one-day gain for the home-flipper turned meme stock on record — continuing its blistering 450% run up since mid-July
Meme-darling Opendoor’s shares soar as founders rejoin board Read More »
Foreclosure starts are notably up from last summer as the strain of today’s high-cost environment is affecting more borrowers. Lenders began the foreclosure process on 24,254 properties last month, up more than 17% from last August according to Attom. The total 35,697 U.S. properties with foreclosure filings last month represented 1 in every 3,987 homes
Foreclosure starts jump 17% as borrower strain mounts Read More »
Key Insight: Congress passed the president’s massive tax and spending bill in July that lowered the maximum amount of funding the CFPB can request from the Federal Reserve System. Supporting Data: The CFPB’s fiscal 2025 operating budget is capped at an estimated $446 million, a 43% drop from the funding cap of $785.4 million in
CFPB warns staff of upcoming layoffs due to GOP funding cuts Read More »
Figure Technology Solutions started trading as a public company and the first moves were substantially higher, according to information on Yahoo Finance. The company priced its offering at $25 per share on Wednesday evening. Early trades, starting around 12:30, put the stock in a range between $32 and $37 per share, with an opening price
Figure Technology goes public, opens at $36 per share Read More »
Mortgage rates fell by a whopping 15 basis points this week, to their lowest point in almost a year, as Fed watchers are now certain a short-term rate cut is in the offing, Freddie Mac reported. The 30-year fixed rate mortgage was at 6.35% on Sept. 11, down from 6.5% one week ago, the Freddie
Mortgage rates drop further as the odds of a Fed cut rises Read More »
Key insight: The White House has appealed a lower court ruling granting Federal Reserve Gov. Lisa Cook an injunction that allows her to remain at her post pending the outcome of her lawsuit challenging the president’s moves to fire her. What’s at stake: The appeals process, even if expedited, is unlikely to affect Cook’s participation
Trump appeals ruling allowing Fed Gov. Cook to remain Read More »
Federal National Mortgage Association and Federal Home Loan Mortgage Corp. received their first buy recommendation from Wall Street on Thursday, as Deutsche Bank said the stocks’ dizzying rally can go further on expectations the mortgage giants will possibly be released from government control in the near future. Fannie Mae shares have jumped more than 320%
Fannie, Freddie get first bull on Wall Street in Deutsche Bank Read More »