Origination

Recent remarks from Federal Reserve Chair Powell suggest more upward movement is ahead.

In some of the regions with the biggest slowdowns, the company is offering incentives to boost demand.

New home equity conversion mortgage endorsements slowed in April, but remained almost 50% higher than the level from one year ago.

Some economists see a recession as inevitable but other markers, like the unemployment rate and consumption indicators, point to a resilient economy.

But total volume is still 53% below last year’s level, while Fannie Mae found the dollar value of refinances down by over 70%.

JPMorgan Chase is laying off hundreds of home-lending employees and reassigning hundreds more this week as rapidly rising mortgage rates drive down demand in what had been a red-hot housing market.

Depreciation risk in parts of New Jersey, Illinois and California is growing, according to a first quarter analysis by Attom Data Solutions.

The conflicting analyses of automated valuation models highlight a challenge lenders could face in deciding whether to use them to determine racial disparities in home evaluations.

Many cities with higher shares of list price drops also appeared on a list of the most overvalued areas in the country.

Contract closings decreased 3.4% in May from the prior month to an annualized 5.41 million, the weakest since June 2020, figures from the National Association of Realtors showed Tuesday.