Mortgages

At the same time, homes bought with FHA-backed loans accounted for the smallest share since 2007, according to an Attom sales report.

New American Funding scored the highest among eligible companies in this year's substantially redesigned measurement of customer satisfaction.

The jump for second mortgages and bank cards was even more pronounced, according to indices published by Standard & Poor’s and Experian.

New single-family home mortgage applications, housing starts and industry sentiment all came in at their lowest since 2020.

Inflation and higher interest rates are hurting distressed borrowers, but low unemployment, remaining forbearance and loss mitigation options are still blunting their impacts, recent loan-performance numbers suggest.

Delinquencies are likely to rise if both interest rates and inflation continue their upward movements, a DBRS Morningstar report said.

The slowdown in new single-family construction is one of several headwinds homebuilders find themselves facing this summer.

Like other mortgage lenders, the San Francisco megabank has been cutting staff since refinancing volumes started to fall. Additional layoffs are expected over the next couple of quarters, according to the bank’s chief financial officer.

Following their largest drop in over a decade one week ago, averages rapidly swung upward as recession talk receded.