A lack of financial sophistication leads borrowers to overpay for a mortgage, according to new research. Analysts at the Urban Institute suggest that federal agencies could help address the issue.
Two large REIT investors in agency MBS incurred losses in the second quarter, due to interest rate volatility and an unaccommodating monetary policy stance. Still, they are optimistic about the future.
Interest rates on mortgages declined in May and June but demand for purchase mortgages remained constrained. Industry participants aren’t optimistic that production will pick up much through the rest of the year.
Moody’s Analytics Chief Economist Mark Zandi said movement in interest rates will be tied to how well deficit reduction is addressed by the next administration.
Officials at Ginnie Mae noted that prepayment rates on Ginnie MBS increased at a faster rate than prepayment rates for GSE MBS due to a quirk in interest rates on VA refinances.
FHFA’s home price index cools off; MBA’s outlook for interest rates unchanged; Treasury looking into AI use in financial services; trade groups request delay on implementation of overtime rule.
The Supreme Court wants the Second Circuit Court of Appeals to conduct a nuanced comparative analysis of whether state consumer protection laws apply to national banks.