In some parts of the country, the giant home builder shelled out incentives of as much as $81,700 per home delivered, most of that in the form of interest rate buydowns.
Locks declined in June but, when controlling for the difference in business days compared with May, the decline vanishes; Fitch downgraded its long-term issuer default rating on Finance of America Companies to C; talent management topped cost cutting in Fannie’s latest survey of mortgage execs’ priorities; MISMO forms group focused on AI.
Mortgage-banking income at banks and thrifts went up 27.8% in the first quarter of 2024 compared with the previous quarter. Trends were far from uniform among the major players. (Includes data table.)