A government shutdown arrived Wednesday due to an intense partisan divide in budget negotiations, prompting bond investor activity that could lower mortgage rates but otherwise challenge the housing market. Investors flooded further into the perceived safety of treasury bonds, putting downward pressure on rate-indicative yields as several government agencies pulled back “non-essential” services related to […]

Rocket Cos. has closed its acquisition of Mr. Cooper, just six months after the transaction was first announced, with a near $5 billion increase in valuation. The transition has already begun; Mr. Cooper and all servicing functions are being rebranded  under the Rocket umbrella. Right now, the company is being branded as Mr. Cooper powered

Key insight: Hill has overseen a sharp deregulatory pivot at the FDIC, with priorities centered on rolling back Biden-era rules and limiting the agency’s role in liberal-aligned issues like climate change and diversity. Supporting data: If confirmed, Hill would serve a five-year term, succeeding Martin Gruenberg; the FDIC board is now entirely Republican, giving him