Market Overview - U.S. stock markets showed resilience despite a government shutdown and disappointing employment data, with major indexes stabilizing and some turning positive by midday [1][2] - The S&P 500 was virtually unchanged, the Nasdaq Composite remained flat, and the Dow Jones Industrial Average added 18 points, indicating a quick market adjustment to the shutdown [3] Economic Data - The ADP Employment Report revealed a surprising decline of 32,000 jobs in September, contrasting with expectations of a 45,000 increase, marking the largest drop in private payrolls in two and a half years [5] - The ISM Manufacturing Index indicated weaker-than-expected manufacturing activity, contributing to a challenging economic backdrop [6] Upcoming Economic Reports - The government shutdown is anticipated to delay key economic reports, including weekly jobless claims and the Consumer Price Index (CPI) inflation data, adding uncertainty for investors [7] Company News and Stock Movements - Nike's shares surged over 4% after exceeding analysts' expectations for profit and revenue, driven by strong growth in North America [8] - Lithium Americas Corp's stock jumped over 25% following confirmation of a $2.26 billion loan from the U.S. government [8] - Nvidia rallied after CoreWeave announced a $14.2 billion AI cloud deal with Meta Platforms, with Nvidia reportedly surpassing a $4.5 trillion valuation [12] - UiPath's stock rose more than 8% due to partnerships with major tech companies for AI-driven automation [12] - Pfizer led gains in the S&P 500 after reaching an agreement to cut drug prices [12] - Rocket Companies completed a $14.2 billion acquisition of Mr. Cooper Group, uniting major players in the mortgage sector [12] - Corteva's shares declined by 6.6% after announcing a split into two independent companies [12] - Cal-Maine Foods fell by 1.6% after missing quarterly profit and revenue expectations [12] - Reddit Inc's stock dropped 8.2% due to reduced usage of its content in ChatGPT responses [12] - United Natural Foods, Inc. soared 18.5% after reporting fourth-quarter revenues that exceeded estimates [12]

Core Insights - A government shutdown has occurred due to partisan budget negotiations, impacting bond investor activity and potentially lowering mortgage rates while challenging the housing market [1] - The 10-year yield, which correlates with common mortgage types, decreased to 4.1% from 4.15%, influenced by a slow private payroll report [2] - Experts warn that prolonged shutdowns could raise concerns about U.S. debt credit quality, leading to higher bond yields and mortgage rates [3] Government Sponsored Enterprises (GSEs) - Fannie Mae and Freddie Mac have implemented workarounds for borrower data verifications, allowing for flexibility in the mortgage process during the shutdown [3][4] - These GSEs are also permitting servicers to extend forbearance to borrowers affected by the shutdown [4] Federal Housing Administration (FHA) - The FHA's Office of Single Family Housing announced limited operational capacity for some mortgage insurance programs during the shutdown [5] - The FHA's operational decisions are guided by legal frameworks established by the U.S. Constitution and other statutory provisions [6] Flood Insurance and Lending - The American Land Title Association highlighted the lack of authorization for federal flood insurance, which affects millions of Americans and jeopardizes home sales [6] - Regulatory agencies have re-released guidance allowing lenders to continue making loans subject to federal flood insurance statutes, even when the National Flood Insurance Program is unavailable [6][7] - Lenders are advised to evaluate safety and soundness and manage legal risks during the shutdown period [7]

Home lender Rocket completed its purchase of mortgage servicer Mr. Cooper for $14.2 billion, a price tag 51% higher than the valuation announced in March https://t.co/GwC8qCrioa ...

Core Insights - Rocket Companies has completed the acquisition of Mr. Cooper Group, creating the largest independent mortgage deal in history, combining the largest home loan originator and the largest mortgage servicer in the U.S. [2][3] - The combined companies will manage a servicing portfolio of nearly 10 million homeowners, enhancing their market position and service offerings [2][3]. Company Overview - Rocket Companies, based in Detroit, is a fintech platform that includes various businesses such as Rocket Mortgage, Redfin, and Mr. Cooper, focusing on homeownership solutions [11]. - Mr. Cooper Group is recognized as the largest home loan servicer in the U.S., providing customer-centric services related to single-family residences [14]. Leadership Changes - Jay Bray, the current CEO of Mr. Cooper, will transition to become the President and CEO of Rocket Mortgage, reporting to Varun Krishna, CEO of Rocket Companies [4]. - Bray will also join Rocket's board of directors, indicating a strategic leadership integration [4]. Strategic Goals - The merger aims to leverage Mr. Cooper's servicing expertise and Rocket's origination capabilities, with a focus on reducing costs and simplifying the homeownership process for consumers [4][5]. - The integration of technology and AI is emphasized as a means to enhance customer experience and provide personalized services [6][7]. Market Positioning - The acquisition of Mr. Cooper follows Rocket's recent acquisition of Redfin, positioning the company to cover the entire homeownership process, from search to financing and servicing [7]. - Rocket Companies has invested $500 million in data and AI technology to further its mission of making homeownership more accessible [7]. Client Satisfaction - Rocket has a strong track record of client satisfaction, having been ranked 1 in client satisfaction for primary mortgage origination and servicing by J.D. Power multiple times [12].

Meanwhile, I want to get over to Diana Ol. She's got the weekly mortgage applications report. Good morning to you. >> Good morning, Andrea.Yeah, the refi boom we saw just a few weeks ago just went bust thanks to higher mortgage rates. The average rate on the 30-year fix for conforming loans increased last week to 6.46% from 6.34%. That's for loans with 20% down according to the Mortgage Bankers Association.Now, as a result, applications to refinance a home loan dropped 21% last week from the previous week. ...

US mortgage rates rose for the first time in five weeks, thwarting a budding recovery in housing demand and abruptly halting a recent flurry of home refinancing https://t.co/AIfjhAQOCc ...

Core Insights - Mortgage interest rates have slightly decreased, with the average 30-year fixed mortgage rate at 6.35% and the 15-year rate at 5.61% [1][14] Current Mortgage Rates - The current national average mortgage rates are as follows: - 30-year fixed: 6.35% - 20-year fixed: 5.89% - 15-year fixed: 5.61% - 5/1 ARM: 6.56% - 7/1 ARM: 6.85% - 30-year VA: 5.86% - 15-year VA: 5.54% - 5/1 VA: 5.92% [4] Mortgage Refinance Rates - Today's national average mortgage refinance rates are provided, noting that these rates are often higher than purchase rates [2] Mortgage Calculator - A mortgage calculator is available to help users understand how different interest rates and loan amounts affect monthly payments, including factors like term length [3][6] Advantages and Disadvantages of Mortgage Types - 30-year fixed mortgages offer lower and predictable monthly payments but come with higher interest rates and total interest paid over the loan's life [7][9] - 15-year fixed mortgages have higher monthly payments but lower interest rates and allow borrowers to pay off their mortgage sooner, saving on interest [10][11] - Adjustable-rate mortgages (ARMs) typically start with lower rates but can lead to unpredictable payments after the initial fixed period [12][11] Market Trends - Mortgage rates are expected to remain stable in the near term, with recent Federal Reserve actions not significantly impacting mortgage rates [15] - Current mortgage rates are slightly higher compared to the same period last year, indicating a lack of downward momentum [16] Tips for Securing Low Refinance Rates - To secure a low mortgage refinance rate, improving credit scores and lowering debt-to-income ratios are recommended, along with considering shorter loan terms [17]

Accessibility StatementSkip Navigation DETROIT, Sept. 30, 2025 /PRNewswire/ --Â Rocket Companies, Inc. (NYSE: RKT) (the "Company" or "Rocket Companies"), the Detroit-based fintech platform including mortgage, real estate, title and personal finance businesses, announced today the expiration and final results of its previously announced offers to exchange and consent solicitations (collectively, the "Exchange Offers and Consent Solicitations") for the $750.0 million aggregate principal amount of outstanding ...

Accessibility StatementSkip Navigation DETROIT, Sept. 30, 2025 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) (the "Company" or "Rocket Companies"), the Detroit-based fintech platform including mortgage, real estate, title and personal finance businesses, announced today the expiration and final results of its previously announced tender offers and consent solicitations (collectively, the "Tender Offers and Consent Solicitations") for the outstanding (i) 5.125% Senior Notes due 2030 (the "2030 Notes") a ...

WASHINGTON, Sept. 30, 2025 /PRNewswire/ -- Following national home price growth of 5.3% in 2024, a panel of more than 100 housing experts forecast home price growth to average 2.4% in 2025 and 2.1% in 2026, according to the Q3 2025 Fannie Mae (OTCQB: FNMA)Â Home Price Expectations Survey (HPES), produced in partnership with Pulsenomics, LLC. The panel's latest estimates represent revisions from last quarter's expectations of 2.9% for 2025 and 2.8% for 2026, as measured by the Fannie Mae Home Price Index (FN ...