Fannie Mae increased its mortgage origination forecast as lower interest rates, driven by economic uncertainty, will lead to more refinance activity, but other factors will continue to hold back home purchases.

While mortgage rates remained unchanged this past week, further drops are possible as signs from the Federal Reserve point to a short-term rate cut at its next meeting.

After months of backsliding followed by a modest increase in April, nondepository mortgage companies added 3,200 workers in May, as the overall job market gained steam.

Average mortgage rates dropped for the seventh time in the last nine weeks following news from the Federal Reserve of a possible near-term rate cut, according to Freddie Mac. The 30-year fixed-rate mortgage fell to its lowest level since November 2016.

After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better.

Sales of previously owned homes rebounded in May to a three-month high as all regions gained amid lower interest rates and a labor market that remains strong.

Mortgage rates remained stable as the 30-year fixed-rate loan settled in near 3.8% for the third straight week, according to Freddie Mac

With mortgage rates expected to continue their recent slides over the next 18 months, in tandem with slowed economic growth, loan originations should see a jump through 2020, according to Fannie Mae.

Mortgage rates remained unchanged as investors' concerns over U.S. foreign trade policy, which triggered the previous week's drop, were moderated, according to Freddie Mac.

Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers.