Mortgages

But the company was profitable for the second consecutive period under standard accounting principles in the third quarter.

Freddie Mac's survey finds the 30-year fixed loan dropped 3 basis points, but Zillow's tracker showed since the FOMC announcement, they dropped 30 basis points.

The resolution ends the firm's brief challenge to feds over its designation to utilize more flexible underwriting as it meets underserved borrower thresholds.

High interest rates and constrained inventory will take its toll on originations and securitization activity in 2024, the rating agency commented.

The transactions grew between second and third quarter, with the new-home market seeing one of its largest surges in cash-buying in 13 years.

At the same time, the 15-year fixed rate loan rose above 7% for the first time in nearly 23 years, Freddie Mac reported.

If the Federal Housing Administration's rulemaking on home equity conversion mortgages were to go into effect as written, borrower contributions would be reduced by thousands of dollars.

Home equity investment (HEI) agreements homeowners receive upfront cash payments in exchange for giving an investor a stake in the property and the right to collect returns.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.

The Fed's higher for longer statements have pushed up the 10-year Treasury in recent weeks to levels last seen in 2007 and that is affecting pricing.

But the industry will still have to go through some pain in 2024, Wharton Professor Susan Wachter told attendees at the Mortgage Bankers Association annual convention.

While great progress has been made towards the goal of reducing capacity by 30%, job reductions should continue for several more quarters.

The average interest rate for the 30-year loan rose for the fifth consecutive week, according to Freddie Mac, but Treasury yields did move lower.

The current Treasury yield curve is leading homeowners to pay mortgage rates at least 120 basis points more than they should, equal to an extra $245 a month on a $300,000 loan, their letter said.

Treasuries fell, extending a selloff in government securities that has rapidly pushed up yields over the past month and threatens to undercut the economy by driving up borrowing costs.

One in every 123 purchase applications showed indications of fraud in the second quarter, outpacing the first, the report found.

While some observers believe that by year-end, the 30-year FRM would be lower than current levels, chatter about an 8% mortgage exists.

Loan activity fell for a second consecutive week, dropping to levels last seen in 1996, as a potential government shutdown loomed.

The share of residential property buyers that put themselves in the most optimistic category jumped notably in the latest edition of an RCN survey.