Mortgage applications slumped last week after the sharpest increase in borrowing costs since mid-2013, signaling tougher sledding for the housing market.
The Mortgage Bankers Association's
The Washington-based group's measure of purchase applications sank 6.2% to 197, while an index of refinancing slumped 10.9% to an almost eight-month low.
Financing costs have surged since the Nov. 8 election on speculation President-elect Donald Trump's pro-growth agenda will spark faster inflation.
Fifteen percent of residences had three or more structures, which can go undetected by insurers even when they identify a secondary structure.
The Federal Reserve will seek comment on the current stress-testing regime with an eye toward increasing transparency and reducing volatility. Modifications would not go into effect until at least 2026.
The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage.
A Washington, DC tax accountant pleaded guilty for submitting falsified documents in his application for a $1.4 million purchase loan, which he later received.
The scorecard the Federal Housing Finance Agency draws up yearly applies to two influential loan buyers and an entity overseeing the fungibility of their bonds.
The industry agenda calls for amending longstanding rules like loan officer compensation, to nixing Biden-era plans trade groups say hurt both consumers and industry players.
