The 9-3 split vote reflects differing views on whether the central bank's biggest worry is inflation or rising unemployment, with data lagging after the government shutdown
UWM and Pennymac are pricing jumbo loans of up to $819K as if they were conforming, ahead of an official announcement by Fannie and Freddie's federal regulator in November
The move could help qualifying borrowers avoid taking out a jumbo mortgage at a higher rate as Rocket gets a jump on an expected increase in Fannie Mae and Freddie Mac's 2024 loan limits
The market composite index, which measures mortgage loan application volume, increased by 2.9% on a seasonally adjusted basis. On an unadjusted basis, the index rose by 2.0%
New tool factors bankruptcy, FICO score and debt ratio into the equation
Mixed economic news keeps rates flat
Freddie Mac: 15-year fixed at record low
Increased FHA loan limits part of compromise plan