Mortgage rates dropped almost 50 basis points in the third quarter, prompting more borrowers to refinance and retention rates on those customers to hit a three-and-a-half-year high, new industry data showed. Refinance retention reached 28% last quarter, the highest percentage since early 2022, and servicers held onto more than half of borrowers refinancing out of […]
Lower mortgage rates lift refi retention to 3.5-year high Read More »
Key insight: The NDAA is one of Congress’ few must-pass measures, and has always attracted a raft of financial and other policy-realm riders. What’s at stake: The housing package would cut red tape for housing construction and let state and local governments use government funds to promote housing supply. Forward look: House banking committee Chairman
Housing falls out of must-pass defense spending package Read More »
Bloomberg News Key Insight: In a legal filing, the former Fed officials claim an opinion from the Department of Justice’s Office of Legal Counsel is factually incorrect. What’s at Stake: The CFPB will run out of funding early next year and Vought claims that he cannot request funding from the Federal Reserve. Expert Quote: “The
Former Fed officials: CFPB’s Vought must ask for funding Read More »