Origination

Despite lower numbers, refi applications continued trending strongly, while purchases fell close to lows from more than a year ago.

The cloud IT provider for settlement services companies has no timeline on when services will be restored following its shutdown Friday.

Meanwhile, the average new-home mortgage price climbed to a new all-time high, according to the Mortgage Bankers Association.

As rising home valuations force first-time home buyers out of the market, expect to see non-owner-occupied loans to increase.

Initial home construction rose 6.3% last month to a three-month high, according to government data released Tuesday.

The adverse market fee change could contribute to an increase in refinance volume, adds Mortgage Bankers Association economist Mike Fratantoni.

Forgoing traditional mortgages by buying homes outright is turning into a 2021 trend, and businesses are stepping in to facilitate these purchases.

Confidence among U.S. homebuilders pulled back in July to an 11-month low as builders contend with elevated materials prices and ongoing supply shortages.

Consumers are booking rooms at levels not seen since early 2020 and loan delinquencies have fallen sharply as a result. Still, business travel remains sluggish and new COVID variants are spreading, threatening the hotel industry’s recovery.

Also: Fannie Mae, Freddie Mac loan modifications reach a pandemic high, Recreational marijuana is a gateway drug to higher home prices