Origination

The company is looking at the long-term picture, building business for 2023 and beyond, Chairman and CEO Mat Ishbia said.

Loan availability also took its steepest monthly dive since the first months of the coronavirus pandemic, with jumbo products falling off by more than 13%, according to the Mortgage Bankers Association.

The pandemic-era freeze on student debt payments has "dramatically" improved credit scores for Americans who borrowed money to pay for college, the Federal Reserve Bank of New York said.

It is a reversal of too little inventory that plagued the past two years.

About 64% of borrowers would like loans to be closed in three weeks, according to Arizent research.

The number of active listings nationwide jumped 31% from a year earlier, a record-high increase for a third straight month, according to a report Tuesday by Realtor.com. 

While a growing share of consumers expect housing costs and interest rates to decrease over the coming year, uncertainty is also leading some to see it as an inopportune time for both purchasing and selling, Fannie Mae reported.

The city remains one of the most unaffordable and as tech companies continue to work remotely, there is little appetite to pay millions to live in the area.

July marked the first month this occurred, suggesting that the small reversal in the upward trend of financing costs wasn't enough to change the downward trajectory in homebuyer activity.

The way the Federal Housing Administration is funded and constrained by laws, rules and other operational limitations is analogous to the FHA living in the horse-and-buggy era in an age when we are starting to see driverless cars, writes the executive director of the Community Home Lenders Association.