Jerome Powell is set to step down this week after a particularly eventful tenure
One issue for would-be homebuyers seeking jumbo mortgages is that rates haven't come down as dramatically as they have for conforming mortgages eligible for purchase by Fannie and Freddie
Worries about commercial real estate are making jumbo mortgages costlier, since regional banks are a major provider of loans that are too big for Fannie Mae and Freddie Mac
Regional banks are in the spotlight again as cracks begin to show in their balance sheets due to the ongoing distress in the commercial real estate sector
Troubled New York Community Bancorp is reportedly ready to pledge about $5B in home loans originated by Flagstar Bank as collateral for risk transfer that would bolster its capital
Economists are scratching their heads, and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than 2 decades
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
It's not just regional banks but larger lenders, such as JPMorgan and Bank of America facing uncertainty if interest rates stay higher for longer, analysts at Fitch and Moody's said
Regional banks have largely weathered the crisis fueled by this year's failures of Silicon Valley Bank, Signature Bank and First Republic Bank by pursuing mergers and boosting deposits through 3rd-party brokers
The Tesla CEO just predicted a coming collapse in the housing market, but Redfin CEO Glenn Kelman and other experts say the conditions that would lead to a meltdown just aren't there
Shares in regional banks PacWest Bancorp and Western Alliance Bancorp tumble, and TD Bank Group and First Horizon Corp. announce they're pulling out of a merger
Berkshire Hathaway Vice Chair Charlie Munger warned of 'trouble ahead' for the US commercial property market as federal regulators seized First Republic Bank early Monday morning
Demand for purchase loans picks up for the 4th straight week as mortgage rates continue to retreat from 2023 highs, according to a Mortgage Bankers Association survey on Wednesday
The deal includes the purchase of approximately $72B in loans at a discount of about $16.5B, along with the transfer of all of the bank's deposits totaling about $56B, according to the FDIC.
Fannie Mae economists say downturn won't rival the 2008 financial crisis, but jumbo mortgages and construction loans could get scarce if small and midsized regional banks tighten