Economy

Weaker economic conditions, rising interest rates and expected changes in investment returns drove the reduced expectations, the Mortgage Bankers Association said.

Solar Mosaic offers loans for residential solar energy systems with tenors of five to 25 years, a decrease of 10 to 30 years under previous loan offerings.

Since breaking above 7% in November, the 30-year fixed is now down nearly a full percentage point, Freddie Mac said.

Repo markets and the bank deposit business, in particular, would be upended if the U.S. were to default on its debt, experts say.

But several recent news developments are creating the perception that the risk of a recession is on the wane and that could end the downward pressure on rates.

Foreclosure prevention actions overall fell for the sixth time in seven months in October, according to the FHFA.

Declining mortgage rates and home prices drove more positive views compared to the prior month, but December's overall outlook remained negative, Fannie Mae said.

The sector is not immune to the same economic instability that affects the single-family residential market, the Mortgage Bankers Association said.

But the lower rates of the past month did result in a $7-billion boost to its origination forecast for 2022.

The Federal Housing Finance Agency got an earful from housing experts at a listening session intended to aid a comprehensive review of the financing system.