Mortgages

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.

Citing "changing market dynamics," the company announced it will exit mortgage lending this summer.

Home purchasers had to come up with 0.9% more in April versus what they would have paid in March and 11.8% higher on a year-over-year basis, the Mortgage Bankers Association said.

Some in the space say they've seen new players coming in but others disagreed during a panel at the Mortgage Bankers Association's Secondary and Capital Markets conference.