Origination

At the same time, the share of new properties acquired by the services dropped, reflecting overall purchase trends and Zillow’s exit from the market.

While rate and term refinancings had the largest drop in volume, credit scores for cash-outs are 33 points lower than one year prior, indicating that these borrowers need financial liquidity, a Black Knight report found.

As the market slows down, property owners are awaiting opportunities for discounts from builders.

Seven towns had home values worth $150K more than properties within nearby cities.

Volumes generated for the home equity product increased by 28% over the past year, showing particular strength in Western markets.

But it's far too early to declare the market to be down and out, especially as employment stays strong and mortgage rates stabilize.

The hottest U.S. pandemic market fell as mortgage rates rise and buyers fear overpaying in a slowing market.

The American Bankers Association’s credit conditions index fell sharply, as economists foresaw dampening loan demand. The weaker outlook lines up with major bank CEOs’ increased worries over a possible recession.

The commodity's price fell to the lowest it has been since September as interest rates continue to rise.

A positive employment report, robust consumer spending and Fed comments on inflation counter measures drove rates upward.