Fannie economists now only expect one rate cut by the Fed this year, possibly in December.

The mortgage delinquency rate declined to 3.04% as of the end of May, down from 3.09% at the end of April, according to Intercontinental Exchange.

Freddie saw the bigger monthly increase in MBS output, up 9.4% from April. Business was up 6.3% at Fannie.

The spring homebuying season ended with a thud in 2024.

The groups noted that the availability of property insurance in California is declining and prices are rising.

The CFPB issued a proposed order that would require Freedom Mortgage to pay a $3.95 million penalty for submitting “error-riddled” data under HMDA.

FHA is taking comments through June 24 on a draft mortgagee letter.

J-T Gaietto, chief operating officer at ConvergentDS, a firm that helps assess cyber risks, said obtaining cybersecurity insurance “isn’t the easiest thing to accomplish.”

Home prices are slowing and an expected decline in interest rates could prompt further changes in the trajectory of home prices.

The Mortgage Bankers Association quarterly performance report found similar, though somewhat bleaker, results.