Origination

The latest jobs and economic numbers pave the way for additional upward movement throughout 2022, analysts said.

The ruling overturns a summary judgment in a class action lawsuit filed by refinance customers between 2004 and 2009 in West Virginia over alleged inflated property values.

But the online real estate company is eliminating nearly half of the positions in its existing mortgage business as a result of the deal.

Increasing rates contributed to a sluggish pace for refinances, but the purchase market showed sustained strength.

December was the fifth month out of the last six in which credit conditions loosened, the Mortgage Bankers Association reported.

Housing market participants are evenly split on whether rising prices will keep buyers out of the market or draw more sellers in, Zillow said.

The change reflects a growing focus on an emerging banker segment that sells loans to the company on a non-delegated basis and includes a greater focus on servicing retention.

Deals by investors — including a smaller portion of flippers — helped push up prices more than 20% on average, squeezing out normal buyers, according to an analysis by Mark Zandi, chief economist for Moody’s Analytics.

December's activity was down 18% from November, led by a 23% drop in purchase volume and a 17% decline in rate-and-term refinancings, Black Knight said.

Nearly half of likely buyers said they feel more urgency to act if the 30-year FRM reached 3.5%, a Redfin survey found.