For the first time since 2016, the number of American households who are homeowners declined on an annual basis, in another signpost that high home prices and elevated interest rates are taking people out of the market, a Redfin study of U.S. Census data found. The study estimated about 86.2 million Americans own their home, […]
U.S. homeownership falls for first time since 2016 Read More »
The majority of Rocket holders with senior debt that’s part of the tender offer and exchange related to the Mr. Cooper acquisition approved it, and the expiration was extended Tuesday. This suggests the pending deal, which recently received a key conditional approval from the regulator of large government-related mortgage investors, will move toward closing. Rocket
Rocket debt extended as Mr. Cooper deal moves toward closing Read More »
Alberto Musalem, president of the Federal Reserve Bank of St. Louis.Bloomberg News WASHINGTON — A member of the Federal Reserve’s interest rate-setting committee emphasized the importance of the central bank’s independence amid a looming challenge from the Trump administration. Federal Reserve Bank of St. Louis President Alberto G. Musalem, speaking at an event at the
Fed’s Musalem: ‘Accountable’ central bank independence is key Read More »
The lowest interest rates in months couldn’t bring an influx of borrowers to the table in the run-up to Labor Day, as application volume declined for the third straight week, the Mortgage Bankers Association said. The MBA’s Market Composite Index, a measure of weekly application volume based on a survey of association members, dropped a
Mortgage application activity decreases despite lower rates Read More »
The 30-year Treasury bond’s yield rose to nearly 5% for the first time since July, underscoring investor concerns about US fiscal trends and elevated inflation. The US 30-year yield climbed as much as four basis points to 4.999% on Wednesday before stabilizing, mirroring similar moves in the UK and Japan, where a deepening selloff pushed borrowing costs to the
US treasury yields brush with 5% as global borrowing costs mount Read More »
You may be seeing headlines about how foreclosures are rising. And if that makes you nervous that we’re headed for another crash, here’s what you should know. According to ATTOM, during the housing crash, over nine million people went through some sort of distressed sale (2007-2011). Last year, there were just over 300,000. So, even
What Mortgage Delinquencies Tell Us About the Future of Foreclosures Read More »
Al Drago/Bloomberg Federal Reserve Gov. Lisa Cook’s attorneys filed additional briefs in her case against President Trump over his moves to oust her from her seat on the Fed board, and the judge overseeing the case has scheduled final briefs to be due Sept. 4. Cook’s attorney, Abbe Lowell, founder of Lowell & Associates, asked
Key filings in Fed independence suit due Thursday Read More »
Residential construction spending saw its first monthly increase in six months this summer, as builders navigated their way through housing market and tariff-related challenges. While construction spending rose month over month in June, it still came in well under levels of a year ago, the National Association of Home Builders said in its analysis of
Home construction spending rises for first time in months Read More »
Keefe, Bruyette & Woods, while still expecting robust profits from Fannie Mae and Freddie Mac, has dimmed its outlook on both companies’ earnings per share potential as probabilities for a release from conservatorship increase. The stock rating for both are, and will remain at, underperform. KBW, in its fine-tuning of the earnings models, reduced earnings
KBW lowers its Fannie Mae, Freddie Mac profit projections Read More »
Kuper Sotheby’s International Realty has added two established real estate agents to its team in central and south Texas, the company announced Tuesday. Eric Copper joins the Austin office with more than 20 years of experience in luxury real estate. He previously served as a broker for Keller Williams, managing more than 1,600 agents and
Kuper Sotheby’s International Realty adds veteran agents in Austin, San Antonio Read More »