First American Financial Corporation

Prices fell 2.9% in Austin but rose 6.4% in Chicago, showing weak purchase demand is producing local corrections rather than a national one

Consumer inflation rose just 0.1% in July, reducing pressure for a September Fed rate hike as mortgage rates remain near their highest levels of the year

Dunkerley founded the warehouse lender in 2003 and guided the company through its 2018 acquisition by First American

Annual appreciation reached its highest rate since August, but prices varied sharply by market and buyer segment

First American says limited inventory is keeping prices at historic highs, while luxury homes continue to outperform starter and mid-tier markets

Company argues efforts to lower closing costs could transfer risk to lenders, borrowers and investors