Refi spike tapers off despite falling rates
Rate-and-term refinances dropped 14% month over month in October, but were still up 143% from last year.
Originations
Mortgage credit availability hits 3-year high
Mortgage credit availability increased 2.3% to 106.8 last month, marking the fourth consecutive month of growth.
Finance of America reports 3Q loss, nine-month profit
Home price modeling changes hurt FOA's third-quarter interim results but it was in the black between January and September on a continuing operations basis.
Mortgage rates tick down following Fed’s cut
The 30-year rate dropped just 0.2 percentage points, as Federal Reserve Chair Jerome Powell's recent comments caused Treasury yields to rise.
Pending home sales stall as labor market concerns build
An index of contract signings held at 74.8 after climbing a revised 4.2% a month earlier to the highest level since March, according to National Association of Realtors data released Wednesday.
Delinquencies rise, signaling borrower pressure
Late-stage mortgage delinquencies hit the highest level since January 2020 in September, a new report from VantageScore found.
KBW says loan level pricing cuts could hurt GSE earnings
Bill Pulte's X post has the industry excited that loan level price adjustments could change, but the impact would not be as beneficial as some think, KBW said.
Mortgage rates fall to lowest mark in over a year
While expectations that another federal rate cut is on the way next week, other economic trends may be having a larger influence on mortgage lending.
Senior home equity holdings rise to record level
The NRMLA/Riskspan Reverse Mortgage Market Index set a new high of 502.42, with the dollar amount of home equity for those 62 or over reaching $14.4 trillion.
Better launches HELOC, CES wholesale channel
The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale.
TransUnion study pushes back on single-score concept
Other studies have found fewer credit pulls could be viable, but this shows millions more would be adversely impacted than in a bi-merge.
Equifax slashes VantageScore price to undercut FICO
Equifax will hold costs for scores from FICO rival Vantagescore through 2027 and offer other incentives meant to drive adoption of the alternative metric.
FHFA floats new housing goals amid broader proposal review
The oversight agency for Fannie Mae and Freddie Mac is taking a new approach to affordability targets and is withdrawing some unrelated, older initiatives.
Bond yields sank — so why aren’t mortgage rates following?
While new jobs data contributed to falling Treasury yields, mortgage rates showed a mixed picture with some trackers moving in opposite directions.
FICO’s new pricing program met with cautious optimism
The credit scoring agency's rollout comes after years of criticism from home lenders over its prices, with delivery costs rising over 40% in the past year.
New dangers in looming shutdown: How lenders can prepare
A potential government shutdown could create unprecedented risks for housing, delaying data releases, and affecting markets more than past shutdowns.
Mortgage applications’ meager gains contrast previous spike
Mortgage applications increased 0.6% last week after jumping 29.7% the week prior, according to the Mortgage Bankers Association.
Home flipping profits drop to new multiyear low
The average return on investment for flipped homes was 25.1% in the second quarter this year, the lowest point since the second quarter of 2008.
Fed cuts but only some mortgage rates are moving lower
Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
New-home mortgage applications slow after two-month surge
New-home loan activity rose 1% in August year over year, but applications fell 6% from July.
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