Federal Reserve Chair Jerome Powell’s speech on Friday at the Jackson Hole Economic Symposium left real estate and mortgage professionals cautiously optimistic. While expectations are building for lower interest rates, volatility remains a concern. In his final address as Fed chair at the Federal Reserve Bank of Kansas City’s annual conference, Powell signaled the possibility […]

The U.S. Department of Agriculture (USDA) announced this week that it has awarded technology services firm Phoenixteam a $49 million contract to modernize its mortgage underwriting platform, the Guaranteed Underwriting System (GUS). The Arlington, V.A.-based company will overhaul GUS, which supports USDA’s guaranteed loan program for rural and farming communities. Phoenixteam said the updates will

We’ve reached fresh new year-to-date lows in mortgage rates after Jerome Powell, speaking at the Jackson Hole Economic Summit on Friday, suggested that the labor market may be more important than inflation for the time being. If only someone had been saying that for a few years! All jokes aside, mortgage rates have been trending