Jones Lang LaSalle (JLL) announced the acquisition of Dallas-based Quadrant Realty Finance (QRF), a debt and equity origination platform.

According to Freddie Mac's Primary Mortgage Market Survey, the average 30-year fixed-rate mortgage (FRM) rose to 4.46 percent (0.8 point) for the week ending June 27, an increase from only 3.93 percent last week and the highest figure since the week of July 28, 2011. The weekly increase is the largest since April 1987. The 15-year FRM this week averaged 3.50 percent (0.8 point), up from 3.04 percent the previous week. While the massive rate hike will certainly dampen some housing activity, Nothaft noted the effect ""will be muted by the high level of buyer affordability, and home sales should remain strong.""

Radian Group Inc. announced the appointment of Derek Brummer as EVP and chief risk officer.

The Texas Mortgage Bankers Association (TMBA) announced the election of Susan Stewart at president for 2013-2014.

A bipartisan group of senators introduced on Tuesday legislation to replace Fannie Mae and Freddie Mac with a newly created agency. Citing the overwhelming presence of the GSEs in today's mortgage marketplace, Sens. Bob Corker and Mark Warner unveiled a new piece of legislation designed to wind down the enterprises and rebuild the private mortgage sector. The legislation would dissolve Fannie Mae and Freddie Mac within five years of passage and transfer appropriate utility duties and functions to a ""different, modernized and streamlined agency.""

Total Mortgage Services, a leading mortgage lender headquartered in Milford, Connecticut, announced the expansion of its mortgage lending services with the opening of a new branch in Fairfield.

April home sales in Connecticut dropped on a yearly basis for the third straight month as prices continued to ascend, the Warren Group reported.

The Federal Housing Finance Agency (FHFA) reported a 0.7 percent increase in its House Price Index (HPI) from March to April. Year-over-year, the HPI was up 7.4 percent. The latest increase marks the 15th straight monthly price improvement in the purchase-only, seasonally adjusted index.

Auction.com received recognition at the 11th Annual American Business Awards (also known as the Stevie Awards) for its advances in the way buyers, sellers, and agents transact residential real estate.

With demand, prices, and credit conditions all on a path to recovery, Deloitte Banking & Securities research leader Val Srinivas examined the problems still facing originators and how they must adapt to overcome. The biggest challenge to the housing market in general right now is low supply. Also changing the landscape is imminent end of the refinance boom, which has been drawing to a close as mortgage rates start to pick up again.