The Federal Open Market Committee yesterday, to no one’s surprise, left the federal funds rate unchanged at 0-0.25%. But analysts, including Mortgage Bankers Association Chief Economist Mike Fratantoni, were more interested in what the FOMC had to say about economic conditions and rising inflation.
The Federal Housing Finance Agency on Wednesday announced Fannie Mae and Freddie Mac will implement a new refinance option for low-income borrowers with government-sponsored enterprise-backed single-family mortgages.
ATTOM Data Solutions, Irvine, Calif., said profits for home sellers nationwide fell slightly in the first quarter but improved year over year—another sign of how the housing market is fending off economic damage caused by the coronavirus pandemic.
ICE Mortgage Technology, Pleasanton, Calif., said time to close all loans decreased over the first quarter, from 58 days in January to 52 days in March.