Mortgages

CEO Curtis Farmer said the warehouse sector, where Comerica provides lines of credit to mortgage banking companies, has not been providing much help as the company seeks to bolster deposits.

The Treasury has added Property Assessed Clean Energy financing for solar panels and the like to the list of approved expenses that states could authorize.

Federal bank regulators issued proposed guidelines for banks and other mortgage lenders to craft policies around reconsideration of value requests. The move is the latest aimed at rooting out bias in home appraisals.

A larger share of sellers were optimistic in May, but the percentage of enthusiastic buyers fell, according to Fannie Mae's Home Purchase Sentiment Index.

But activity is still very low, as just 1% of the market is in the position to refinance thanks to high interest rates, Keefe, Bruyette & Woods said.

Construction activity in smaller cities also saw a significant annual decline, according to the National Association of Home Builders.

The Berkshire Hathaway unit first invested in the underwriter in May 2022. Previously it was wholly owned by Realogy.

A change in investor sentiment toward an expected pause by the Fed in short-term rate hikes was the driving force behind the current surge, Freddie Mac said.

But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.

But there are regional variations in housing markets across the country, the Federal Housing Finance Agency said.