Yahoo Finance's Julie Hyman breaks down April existing home sales data.
This has caused the Federal Reserve to raise the Federal Funds rate in order to slow the economy and get inflation back under control. The mortgage banking sector, which feasted on easy refinancings during 2020 and 2021, is now experiencing a sharp slowdown. In light of these changes, let's see how one of the biggest mortgage originators, UWM Holdings (NYSE: UWMC) aka United Wholesale, is faring.
Realtor.com Chief Economist Danielle Hale joins Yahoo Finance Live to discuss the housing and rental markets as higher mortgage rates weigh on home sales.