Freddie Mac

But the decline may be close to its floor, as wide spreads compared to 10-year Treasury yields hinder how far averages could fall.

The company, Truv, plans to compete with existing players by offering digital employment data in a new way, according to CEO Kirill Klokov.

Recent economic data pushed investors toward Treasurys over the past week, driving 10-year yields to as low as 4.1%.

Procedural limits on condo originations aimed at preventing issues like the Surfside building collapse have frustrated lenders, who will see if this helps.

The 30-year average declined for the fifth consecutive week, as purchase demand picking up at the same time, according to Freddie Mac.

Instead of buybacks, performing loans could be subject to fees related to defect rates, with some exceptions made for small lenders that deliver a limited volume of mortgages.

He will take over the role from current non-executive chair Sara Mathew, who's allowed time on the government-sponsored enterprise's board is expiring.

Like its competitor Fannie Mae, the enterprise's earnings were higher year-over-year but recorded a quarterly decline in part due to a legacy shareholder lawsuit.

Lenders will be adjusting to new mandates regarding mortgage applicants that don't have payments for education debt on their credit reports.

Michael DeVito has been able to grow the government-sponsored enterprise's net worth, but at the current pace and without a rule change, it could take 10 years to build enough capital to exit conservatorship.