Origination

The 30-year fixed rate mortgage is lingering just shy of 6.5% level, which is not low enough to bring home purchasers back into the market, observers said.

"Despite the modest gain, home sales are still sluggish," said NAR Chief Economist Lawrence Yun in a prepared statement. "But consumers are definitely seeing more choices, and affordability is improving due to lower interest rates."

The Federal Housing Administration's renovation program parameters hadn't been updated in a decade, faling behind similar products from other providers. The Nov. 4 changes will bring it up to speed.

Industry economists are now confident about predictions for mortgage rate movements through the end of next year; the question is if that translates to increased home sales.

Following a breach at National Public Data, the National Consumer Law Center recommended consumers consider a credit freeze, but that could also hinder a mortgage applicant's home purchase depending on where they are in the process, an expert says.

Purchase applications last week fell to their lowest level since February, the Mortgage Bankers Association reported.

The company is emphasizing wider margins over volume, and leaning into its maturing renovation business.

Without considering the potential of building equity in a property, in 48 of 50 markets renting was better; appreciation flips that to 29 cities in favor of buying, First American said.

How challenges created by climate change and some regulations related to it can create new avenues for business according to Chief Credit Risk Officer of Planet Home Lending.

The banking giant's sale of the non-agency, third-party portion of its commercial servicing business will boost the buyer's position in the securitized market.