Mortgages

Renovations, already the leading use for these borrowings, increased their share to nearly two-thirds of the products' market, the Mortgage Bankers Association said.

The 30-year fixed, which was threatening going above 7% again according to Freddie Mac data, was 18 basis points lower this week.

The Federal Reserve vice chair for supervision said regulators will adapt supervisory practices to account for advancements in machine learning.

Delinquencies are balanced by low loan-to-value ratios, which could result in more favorable recoveries in the event of defaults.

However, both Zillow's and Optimal Blue put the 30-year fixed mortgage lower than where it was seven days prior.

But the volume of activity for distressed properties is still lower than the historic norms, Attom Data Solutions said.

Canada's banking regulator is proposing to make it more costly for lenders to accommodate mortgage borrowers who stretch out their loans in an effort to limit housing-market risks in the financial system.

The Mortgage Bankers Association attributes this to muted demand for home purchases and companies trimming their operations.

Ten Western states that benefited from a pandemic-driven boom reported value declines in May, CoreLogic said.

After a Supreme Court ruling, forgiveness for education debt looks unlikely but some of those exiting forbearance for it get a year-long break on credit and fees that could be helpful.