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Joel Friedlander is a Principal in Private Client Services, Financial Services Organization at Ernst & Young LLP.

Shrinking gain-on-sale margins also ate into earnings, with growth expected to slow for the rest of 2021.

A jump in jumbo loan programs was countered by lenders dropping high loan-to-value conforming products.

Deanna Cuadra is a senior reporter at Employee Benefit News. Her work covers healthcare, U.S. policy and reform, challenges faced by women and parents in the workplace and innovation in work culture and leadership. Deanna previously worked as an editorial assistant at HealthDay, and was the co-founder and editor-in-chief of MidWave Magazine, a multimedia platform where college students were able to share their takes on pop culture and politics at the onset of the pandemic. When Deanna isn't knee-deep in healthcare policy, she directs and produces short films and documentaries that center marginalized communities. Deanna graduated with a bachelor's degree in film and media studies and East Asian studies from Columbia University.

The average was up from 2.77% last week and the highest since July 15, Freddie Mac said Thursday.

The median price of an existing single-family home jumped 23% from a year earlier to an all-time high of $357,900, the National Association of Realtors said in a report Thursday.

The agency developed measures taking effect Aug. 31 that, among other things, will allow lenders to prioritize foreclosures of the most impaired loans and then focus on modifying salvageable ones.

A strong housing market and a willingness of borrowers to tap home equity lines, is benefiting non-QM loans.

The expanded credit access in its automated mortgage decisioning goes into effect in mid September.