Mortgages

Lumber prices have wavered, but gypsum, steel and transportation were still on the rise in the past month, according to a National Association of Home Builders analysis.

But a slower-than-anticipated rate of repossessions suggest distressed homeowners are finding solutions.

Rising interest rates eliminated any refinance incentive for 30% of the loans analyzed by Standard & Poor's, marking a turnaround from the start of the year when prepay speeds were expected to increase

New-home borrowers eyeing things like rising commuting costs could add at-home amenities instead so long as they remain relatively affordable, one take on a National Association of Home Builders report suggests.

A positive employment report, robust consumer spending and Fed comments on inflation counter measures drove rates upward.

Fannie Mae and Freddie Mac asked originators to resubmit applications that contained errors and adjust sold mortgage information due to incorrect life-of-loan representations and warranties.

Elevated prices coupled with higher mortgage rates are leading to affordability challenges that have reduced borrowing volumes.

Delays in closing the deal after it was announced in August resulted in the parties' decision to remain separate, although they will still work together.

But for prospective buyers, soaring home prices in April pushed affordability closer to the all-time low set in June 2006.

The inability to include both types together in standard loan pools has been one of the hurdles to the adoption of digital collateral.