Homebuilder Sentiment Slumps to One-Year Low as Mortgage Rates Surge
With summer drawing to a close, homebuilders are feeling discouraged as climbing mortgage rates are keeping buyers from making a move. Builder confidence in new-home sales dropped three points month over month, decreasing the National Association of Home Builders/Wells Fargo Housing Market Index (HM
Trump Nominates New Head for Federal Housing Administration
The White House has picked a familiar mortgage expert to lead the Federal Housing Administration. The Trump administration nominated Matt Jones to head FHA and serve as assistant secretary of the U.S. Department of Housing and Urban Development. Jones would require Senate confirmation to serve perma
Mortgage Applications Plunge as Rates Rise and Fed Prepares To Hike
Mortgage applications fell this past week as concerns over inflation and an expected Federal Reserve interest rate hike put a chill on the market, according to the Mortgage Bankers Association. For the week ending Sept. 11, MBA's Market Composite Index—a measure of total mortgage loan application vo
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