Ellie Mae

As mortgage rates recently hit their highest point in seven years, closed refinances fell back to their low point of 2018, according to Ellie Mae.

Lenders offered fewer government-guaranteed mortgage programs in September, leading to an overall decline in mortgage credit availability, according to the Mortgage Bankers Association.

August's share of conventional mortgages closed by millennials reached a three-year high as lenders added products to meet their lifestyle, Ellie Mae said.

As mortgage rates remained mostly tepid throughout the summer, closed refinances had their first month of growth in August, according to Ellie Mae.

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Mortgage credit accessibility dropped for the first time in four months as jumbo loan products took a step back, according to the Mortgage Bankers Association.

Nearly half of July's millennial homebuyers were single, a sign that they are not waiting for certain milestones like marriage before deciding to become homeowners, according to Ellie Mae.

The vast majority of consumers start the mortgage process with internet research, but when it comes time to initiate contact with a lender, borrowers are nearly as likely to pick up the phone as they are to connect online.

Purchase-loan share held steady month-to-month for the first time this year, even though it is still above year-ago levels in line with a seasonal decline, but growth remains in the forecast.

Mortgage credit accessibility kept climbing in July, mostly thanks to an expansion of jumbo loan products offered, pushing that index to its historical high point, according to the Mortgage Bankers Association.