Angel Oak Home Loans has brought 30-year industry veteran Steve Valladares into the fold to manage its correspondent business line, and has announced four new branches in the western U.S.

A recent House Financial Services Committee hearing discussed the benefits of the $150 billion Build Back Better Act, and the measure’s efforts to expand housing for all nationwide.

Following a near-month-long 72-basis point rise, fixed-rate mortgages turned downward this week, signaling a potential reset in the housing market.

Necessitated by significant operating losses and cash flow challenges due to mortgage market volatility, FGMC has filed for bankruptcy protection.

As fixed-rate mortgages crawl to the 6%-mark, mortgage application volume did rise slightly for the third consecutive week, but refinance volume trended in the opposite direction, falling 80% year-over-year.

S&P CoreLogic Case Shiller reports that despite a 20.4% annual gain in April 2022, home prices in the U.S. were down slightly from 20.6% recorded the previous month.

Sales of new single‐family homes in May rose to 696,000, a 10.7% month-over-month rise of April’s recorded total of 629,000.

The Urban Institute will partner with the National Housing Conference to present an in-person conference in D.C. exploring the racial homeownership gap, including the lack of affordable housing, and fair access to quality credit.

After a few weeks of decline, Freddie Mac reports mortgage rates hit a mark last seen in November 2008, having increased by more than two full percentage points since the beginning of 2022.

The MBA reports that purchase activity was down 10% year-over-year, as inventory shortages and higher mortgage rates are dampening demand.