News

FHFA: Rising interest rates not slowing down home prices…yet

No end in sight for low housing inventories
Home prices continued their strong growth in the fourth quarter despite rising interest rates. Although interest rates are up, housing inventory is down, causing home prices to increase. However, the FHFA’s deputy chief economist explains it may simply be too soon to see an effect on the market from increasing interest rates.
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Freddie Mac: Market uncertainty disorients mortgage rates

30-year mortgage continues to stray from Treasury yield
Mortgage rates increased slightly, once again breaking from the 10-year Treasury yield which saw a more significant decrease. Freddie Mac’s chief economist explains the divergence between the two numbers stems from rising uncertainty in the market.
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[WATCH] Treasury Secretary Mnuchin says expect GSE reform during Trump administration

Not number one priority, but on the agenda
Treasury Secretary Steven Mnuchin sat down with CNBC for his first television interview since being confirmed to lay out some of the administration’s economic priorities. Among the items discussed, Mnuchin mentioned GSE reform, confirming that a change in Fannie and Freddie’s current status is still high on the administration’s list of priorities.
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Ocwen expects another loss in 2017 thanks to NYDFS, CFPB regulatory issues

CEO: We believe we have earned the right to acquire MSRs again
Despite the California Department of Business Oversight removing the state's mortgage servicing restrictions on Ocwen Financial, the nonbank is still prohibited from acquiring mortgage servicing rights in bulk, thanks to the company’s previous settlement with the New York Department of Financial Services. And those restrictions and other "regulatory challenges" will likely lead to another yearly loss for the nonbank.
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Ocwen falls back into the red in Q4, but results are much better than last year

Posts net loss of $10.4 million compared to loss of $224.3 million in 2015
Ocwen Financial surprisingly returned to profitability in the third quarter of 2016, breaking a four-quarter streak of losses, but the company’s time in the black appears to be short-lived. The nonbank reported Wednesday that it posted a net loss for the fourth quarter of 2016, but the loss is far smaller than the company reported during the same time period last year.
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B. Riley Financial acquiring FBR & Co. in $160 million deal

Combined firm will provide research coverage for 600 companies
B. Riley Financial, a financial services firm, announced Wednesday that it is acquiring FBR & Co., an investment banking and brokerage firm, in a deal that values FBR at $160.1 million. “B. Riley Financial and FBR combined will become a clear leader in small cap investment banking and brokerage in the U.S. with 600 names under research coverage,” the companies noted in a release.
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Trump’s crackdown on illegal immigration could drop home prices

Even legal immigrants backing out of homeownership
President Donald Trump’s policies cracking down on immigration could mean drastic changes to the housing market once the policies start taking effect. Even legal immigrants are showing more caution when it comes to buying a home, saying they are unsure about their future in the U.S.
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Here's the inventory crisis smothering Millennial homebuying

3 factors blocking homeownership
Regardless of whether Millennials want to buy a home or not, there first must be a home available to purchase. In an interview with HousingWire, Daren Blomquist, senior vice president at ATTOM Data Solutions, identified three key factors keeping housing inventory in a drought, barring entrance for aspiring young homeowners.
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