Sales of new single-family homes declined by 13.7% on a monthly basis in May.

Wall also oversaw First American’s agent/lender group, which includes Docutech, ServiceMac and FirstFunding.

The Fed’s System Open Markets Account had $2.181 trillion of agency single-family MBS as of April 2, a 2.0% decline from year-end.

Rising home prices and property insurance premiums, elevated interest rates and other factors are placing financial burdens on homeowners and limiting homeownership opportunities.

The firms have issued three similar deals, beginning in early 2024.

At a hearing in the House, Powell reiterated that the Fed is waiting to see developments in tariff policies and the employment market before deciding whether to cut rates.

Economists at Fannie Mae project that the interest rate for a 30-year fixed-rate mortgage will average 6.5% during the fourth quarter of 2025.

Repurchases and indemnifications by banks and thrifts for residential mortgages declined by 16.3% on a quarterly basis in the first quarter of 2025.

The Mortgage Bankers Association and the American Bankers Association separately called for the CFPB to keep an anti-evasion exception established during the pandemic to help facilitate loan modifications.

The homebuyer must have a purchase mortgage from Rocket to be eligible.