The Federal Reserve's preferred inflation gauge fell to 2.56% in May, getting closer to the Fed's 2% target for the 2nd month in a row. Core inflation reading is lowest since March 2021
'The US housing market is stuck, and we are not convinced it will become unstuck anytime soon,' economists at Bank of America Global Research said of ongoing housing affordability issues
Mortgage rates have been on the decline since late April, as closely watched data releases suggest the economy is cooling and that the Fed may start cutting rates as soon as September
Clever CEO Luke Babich writes that partnering with well-qualified lenders helps you help your clients, build your brand and add value to every real estate transaction
Modest pilot program approved by federal regulators was opposed by banks who have traditionally provided most home equity loans, but nonbank lenders have already made inroads
Fannie Mae on Friday slashed its 2024 forecast as a result of weak spring home sales, but listings are returning to the market and mortgage rates look poised to drop, according to new projections
Fathom Holdings beefs up title coverage in 3 states with 'strategic addition' to geographic footprint by acquiring 9-person title agency with offices in Utah, Colorado and Virginia
Purchase loan applications have surged for 2 weeks in a row, but rates for conforming mortgages are inching back up toward 7% this week as investors weigh the odds of Fed rate cuts
NFM Lending is the first to take advantage of Knock API integrations, which let loan officers know if homebuyers can tap the equity in their existing home and buy before they sell
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Card issuer Wells Fargo is losing as much as $10M a month as it eats interchange fees for users who are paying off balances after paying their rent, 'The Wall Street Journal' reports
CEO Dawar Alimi writes that choosing a modern and advanced pricing engine can unlock new opportunities for growth, profitability and success in an increasingly competitive landscape
A 'Chicago Tribune' investigation included accounts from former employees who described incidents of sexual harassment, misogyny and bullying
Key Fed inflation metric expected to drop June 28 following unexpected decline in May wholesale prices and jump in weekly jobless claims to 242K workers, highest level since August 2023
Policymakers now envision making just one rate cut this year, but investors who fund most mortgages are still betting the central bank will change its tune if inflation continues to ease
Rates have returned to last week's levels, when applications for purchase loans leapt by 9% from the week before and refi applications surged by 28%, MBA lender survey shows