Mortgages

President Trump said big homebuilders are sitting on a record 2 million empty lots, and asked Fannie Mae and Freddie Mac to help restore the American Dream.

The partnership centers on a master purchase agreement for a portfolio of mortgage servicing rights that the real estate investment trust is buying.

While new jobs data contributed to falling Treasury yields, mortgage rates showed a mixed picture with some trackers moving in opposite directions.

The FHA extended the mandatory implementation date for technical updates but things are still changing on Oct. 1, when the government could shut down.

But even if global financial crisis 2.0 doesn't come, investors may well be in for a rough ride in the coming months as frothy financial markets come to terms with a cyclical slowdown.

Mortgage applications increased 0.6% last week after jumping 29.7% the week prior, according to the Mortgage Bankers Association.

The latest reports from ICE Mortgage Technology and VantageScore appear to be in line with hints at growing borrower pressure officials are eyeing in policy.

The average return on investment for flipped homes was 25.1% in the second quarter this year, the lowest point since the second quarter of 2008.

Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.

New-home loan activity rose 1% in August year over year, but applications fell 6% from July.