The stock market had a down day on Friday because of
The big gainers on the day on a percentage basis were KB Home and Fidelity National Financial, both up 1.88%, with Ellie Mae third at 1.72%.
At the opposite end of the spectrum, Home Loan Servicing Solutions was down 2%, followed by Fiserv, off 1.62%, and OceanFirst Financial, down 1.41%.
MGIC Investment Corp. was up 1.44%, but Radian Group was down 0.68% a full day after it was revealed all four legacy private mortgage insurers had
Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.
In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.
Freddie Mac is offering a municipal bond option for investors in its ML multifamily securitization offerings starting with its December issuance.
Investors bought 15.9% of U.S. homes sold in Q3, according to Redfin, a level similar to 2018 and 2019, when the share was around 14%.
The development is the latest in an ongoing series of initiatives the Department of Housing and Urban Development has introduced to encourage growth of the factory-built construction segment.
Serious mortgage delinquencies are at their highest since May 2023, and early payment default activity is also a concern, ICE Mortgage Technology said.
