New-home mortgage applications slow after two-month surge
New-home loan activity rose 1% in August year over year, but applications fell 6% from July.
Mortgages
Traders lock in Fed bets, boosting Treasuries for fourth week
The yield on US 10-year debt edged two basis point higher to 4.04% after falling to a five-month low Thursday, but still remained on course for a fourth week of declines.
Foreclosure starts jump 17% as borrower strain mounts
Properties with default notices, scheduled auctions and REOs are up by double digits compared to last summer as buyers are mired in a high-cost environment.
Rate-and-term refi activity hits 2025 high mark
Falling interest rates led to a rush in refinancing, but slowing purchase activity brought a decline in overall lock volumes, according to Optimal Blue.
Treasury investors ramp up bullish positions before CPI data
In SOFR options, which closely track the Fed's policy path, a number of large positions have emerged that look to benefit from an outsized cut of 50 basis points at next week's meeting.
Buyers gain hope on rates, sellers turn cautious
While August's views on buying conditions and rates increased over July, the other components in Fannie Mae's sentiment index all declined, driving it lower.
Black homeowners lose ground as job losses mount
Black homeownership fell to 43.9% this summer, its lowest since 2021, as rising unemployment and federal layoffs widened housing gaps across demographics.
U.S. Treasuries extend gains as traders turn focus to inflation
The attention will now turn to reports on producer prices and consumer prices, due Wednesday and Thursday, for signals of how quickly the Federal Reserve will lower borrowing costs.
Mortgage rates sink with FOMC cuts on the horizon
The 30-year conforming fixed rate mortgage ended this week at its lowest since last Oct. 17, helped by bond traders pricing in a reduction in short-term rates.
U.S. homeownership falls for first time since 2016
As Washington weighs a national housing emergency, U.S. homeownership has slipped year-over-year, according to Redfin.
Mortgage application activity decreases despite lower rates
A pickup in refinances was offset by the first pullback in purchases in four weeks in the run-up to Labor Day, according to the Mortgage Bankers Association.
Mortgage rates hit 10-month low as Powell hints at Fed cut
The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.
Higher mortgage rates slow refi application volume
The increase in purchase volume was not enough to offset the drop in refinance application submissions as conventional rates increased week-over-week.
Chase formally reenters HELOC business after five years
The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.
Mortgage-Treasury spread at narrowest point in three years
While still higher than the norm, the reduction in this spread is good news when it comes to mortgage rates for potential homebuyers as well as current owners.
Mortgage delinquencies ease to start second half of 2025
While the overall delinquency rate improved this summer, FHA-backed mortgage borrowers continued to exhibit concerning levels of payment stress in July.
Underwriting errors push loan defects higher
Lagging tech adoption, issues with credit, and originators' rush to close refinances earlier this year contributed to deterioration, a study found.
US Treasuries slip as traders trim rate-cut bets ahead of Powell
Traders were watching a slew of data on a bigger-than-expected increased in jobless claims and expanded manufacturing Thursday.
Fannie Mae cuts outlook for 2025–26 home sales
Fannie Mae economists toned down their housing and economic outlook in August, predicting fewer home sales and less mortgage origination volume versus July.
Fannie, Freddie’s stress test losses ease from 2024
The tests modeled how Fannie Mae and Freddie Mac would fare after absorbing losses like a total $36.1 billion provision in credit losses in a severe downturn.
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