Mortgages

A potential buyer with a budget of $3,000 per month for their payments is now able to afford an approximately $453,000 home.

Loan criteria such as credit scores, loan types and loan-to-value ratios are all weaker than those included in 2022 deals, Fitch said.

Its January forecast reverses the call first made in April 2022 that the U.S. economy would slip into an extended downturn.

A common concern in housing finance reactions has been the lack of accommodation for strategies routinely used to manage credit, rate and liquidity exposures.

Lending activity among builders surged over 22% annually in December, but the growing share of FHA-backed borrowing in the segment took a step back for the first time in four months, the Mortgage Bankers Association said.

As part of a settlement with the Justice Department, Patriot Bank must invest more than $1 million of the total in a loan subsidy fund for minority homeowners and take other corrective steps in its everyday business. The bank denied any wrongdoing.

The former Obama administration official and MBA head died unexpectedly on Jan. 16.

Interest rate-related developments have reportedly created an environment where more mortgage firms are interested in selling and investors are eager to buy.

For the past week, the benchmark 10-year Treasury closed above 4%, as the markets priced in an increase in the consumer price index.

Both companies saw their stock rating cut because of their current valuation, similar to why Rocket's was previously dropped. They declined comment on the move.