Before this morning’s jobs report was released, mortgage rates were on track to end the week at their highest levels in several weeks. This was due to an ongoing mega-spike in oil prices spilling over to the bond market (higher oil = higher inflation implications, and bonds hate inflation). The jobs report saved the day, […]
Volatile Crosscurrents Keep Mortgage Rates Relatively Flat Read More »
The Department of Veterans Affairs put a long-awaited policy for a new, temporary borrower assistance option out for comment this week. Processing Content Mortgage market participants welcomed the drafting table release of the VA partial claim proposal. That proposal stems from a bill sponsored by Rep. Derek Van Orden, R. Wis., which passed and went
VA partial claim draft arrives with detail sought on limits Read More »
Planet Financial Group was able to achieve its annual growth rates of 58% in its originations business and 21% in its servicing portfolio organically. Processing Content The company, which did several acquisitions in recent years, achieved the 2025 growth on its own, Michael Dubeck, CEO and president of Planet Financial said in an interview. “To
Planet Financial grows 58% in originations, 21% servicing Read More »
Housing inventory ticked up on an annual basis for the 28th consecutive month in February, but growth continued to flatten, underlining a trend losing momentum. Processing Content Active listings grew 7.9% year over year in February, but just 0.2% month over month, reaching more than 914,000 homes on the market, according to Realtor.com’s monthly housing
Housing inventory recovery slows for ninth straight month Read More »
Several trade groups usually supportive of efforts to increase housing inventory are taking exception to new homebuilding language added to a federal bill currently under Senate consideration. Processing Content Lawmakers added a provision in the 21st Century ROAD to Housing Act that will require large institutional investors purchasing build-to-rent properties to sell units they purchase
Builders push back on 7-year build-to-rent selloff rule in ROAD Act Read More »
Policymakers in Washington are increasingly focused on the role of large institutional investors in the single-family housing market. The concern is straightforward: if large private equity firms are buying millions of homes, they could contribute to rising housing costs and reduced access for Americans trying to buy their first house. Processing Content Those concerns deserve
Congress risks shutting out small housing investors Read More »
The Mortgage Industry Standards Maintenance Organization has moved a pair of initiatives related to two government-guaranteed mortgage loans programs up to candidate recommendation status. Processing Content First, the data mapping for a key form in the Veterans Affairs loan process has achieved this status, meaning the standard has been thoroughly reviewed by industry participants and
MISMO releases VA, FHA form standards for industry use Read More »
Key insight: The Bureau of Labor Statistics reported that the economy lost 92,000 jobs in February, signaling a cooling labor market. Supporting data: Health care jobs fell by 28,000, while the overall unemployment rate held steady at 4.4%. Forward look: The declining job totals could signal to the Federal Reserve that rate cuts are necessary
Economy loses 92,000 jobs in February Read More »
Key insight: The package includes measures that had already been considered by the committee, including a bill on brokered and custodial deposits and a number of measures aimed at relaxing oversight, particularly for community banks. What’s at stake: The package is opposed by some Democrats, who argue the bill favors large banks as well as
House committee passes bank deregulatory package Read More »
Mortgage rates bounced back up today as the underlying bond market continued the selling trend seen on 3 out of 4 days so far this week. In the overnight hours, bond yields (which generally correlate with mortgage rates) moved higher in concert with rising oil prices. That said, it would be a mistake to assume
Mortgage Rates Bounce Back Up Near Recent Highs Read More »