Homebuyers were able to take advantage of slowing home price gains in July, as lower median loan amounts countered a rise in mortgage rates, the Mortgage Bankers Association said. Processing Content Its Purchase Applications Payment Index fell to $2,175 from $2,191 in June. But this is still higher than last July’s $2,127. After bottoming out […]

Key insight: A new funding structure issued by the Department of Housing and Urban Development would have severely limited grants and excluded most existing fair-housing groups from receiving what remained. What’s at stake: Judge Myong Joun said HUD’s explanation for the changes “falls woefully short” and failed to account for organizations’ reliance on federal funding.

Mortgage rates moved higher for the first time in three weeks, as the 10-year Treasury yield remained elevated in the wake of Secretary Scott Bessent’s debt repurchase plans. Processing Content Bessent’s plans to repurchase longer-term bonds is not impressing the markets, while the July personal consumption expenditures index data, while not showing inflation strengthening, also