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Independent mortgage banks have become a cornerstone of the American housing finance system. They originate a majority of new mortgages, service a growing portion of federally backed loans, and provide credit access in communities that might otherwise be underserved. Yet the regulatory framework governing large IMBs has not kept pace with their importance. Processing Content […]

Pending sales of previously owned US homes dropped in July to the weakest since the start of the year, illustrating a housing market plagued by elevated mortgage rates and prices. Processing Content An index of contract signings decreased 2.3% to 71.2, the lowest since January and matching the second-worst reading in data back to 2001,

New residential construction in the US declined in July as single-family starts slid to the slowest pace since 2022. Processing Content Housing starts fell 12.4% last month to an annualized rate of 1.24 million, according to federal government data released Tuesday. That fell short of the 1.35 million pace expected by economists surveyed by Bloomberg.