Effective July 31, the Texas-based bank will shut down its mortgage origination business, and shift its focus towards full-service banking and mortgage servicing options.

Data culled from the 2020 Census Demographic Profile and Demographic and Housing Characteristics File has found that West Virginia and Maine reported the highest homeownership rates in 2020, while the District of Columbia reported the lowest homeownership rate nationwide.

Freddie Mac reports a week-over-week rise of 18-basis points in mortgage rates, further contributing to a sluggish and slow spring season for the national housing market.

With mortgage rates rising to levels last seen in March, the MBA reports that overall application volume dropped 4.6% week-over-week, amid a continued lack in the nation’s housing inventory.

The House Financial Services Committee hosted a panel featuring Edward J. DeMarco of the Housing Policy Council and NAR President Kenny Parcell discussing loan-level price adjustments used by Fannie Mae and Freddie Mac and their impact on the mortgage marketplace.

The MBA reports April marked the third consecutive month of year-over-year growth in new home purchase apps, as the mortgage rate environment continues to factor into homebuying and selling decisions.

Assuming the role of CFO from Allen Parker, Hofmann will oversee Zillow's finance, corporate development, strategy, and investor relations teams.

An upcoming webinar will feature Patrick F. Stone, and Economist Dr. Bill Conerly analyzing the economy and its impact on housing, and provide predictions on the upcoming quarter and the remainder of 2023.

Freddie Mac reports that, after retreating for two consecutive weeks, the 30-year fixed-rate mortgage edged back upward this week, nearing the 6.40%-mark, and forcing app volume downward.

As the industry continues to face challenging conditions, the MBA reports that independent mortgage banks have endured four consecutive quarters of production losses, and nine consecutive quarters of volume declines.