Mortgages

The lender claims the offering is the only one of its kind in today's mortgage market.

The Fed's short-term rate cut hasn't lowered 30-year mortgage rates, which have been flat, but some buyers had reasons to act sooner rather than later.

The class A and B notes will receive cash distributions to reduce the interest payment amount and any interest carryforward. Principal payments will follow interest payments.

Home prices are one driver. Other factors also have been exerting upward pressure on housing expenses that differ by region and lift the overall average.

Quantitative tightening has helped to keep mortgage rates elevated, but new concerns over how it impacts market liquidity could lead the Fed to end the program.

Total insured wind and flood losses are predicted to be between $10.5 billion and $17.5 billion, according to CoreLogic. Earlier estimates placed the cost of insured damages between $3 billion and $5 billion.

Companies announced new product rollouts and capital raises last month, but some are also facing lawsuits as the industry encounters heightened attention to the lack of consumer protections.

The conforming 30-year fixed rate mortgage rose to 6.12% on Oct. 3.

State housing finance agencies had a resurgent fiscal 2023 and the recent fed funds rate reduction could have a mixed impact on them, Fitch Ratings said.

Affordability improved for a fourth straight month, but questions remain about whether recent trends will bring a significant number of buyers into the housing market.