Refinance

More than half of the third quarter refinance activity was the cash-out variety, with borrowers removing the most total equity from their homes in nearly 12 years, according to Black Knight.

The availability of mortgage credit jumped in November from the previous month as jumbo activity and refinancing in the government market increased, according to the Mortgage Bankers Association.

Millennials took advantage of the low mortgage rate landscape in October, boosting their refinance share to a survey-record high, according to Ellie Mae.

Purchase mortgage application activity is at its highest level since this summer on a seasonally adjusted basis, and should remain strong in December, according to the Mortgage Bankers Association.

In light of the Federal Housing Administration's strong financial performance, now is not the time to "reduce the FHA's footprint," but rather to broaden the critical access to credit role it plays.

The outperformance of mortgage-backed securities versus U.S. Treasuries has extended for a third straight month into November, buoyed in part by a decline in volatility.

Mortgage application activity rose 1.5% compared with one week earlier as interest rates remained below 4%, according to the Mortgage Bankers Association.

Mortgage prepayment levels were at their highest in over six years during October, as existing homeowners took advantage of the lower rates to refinance, or to a lesser extent, purchase a new residence, Black Knight said.

River City Mortgage is staging an eight-state expansion of its footprint, and recently hired Carrington Mortgage Services President Raymond Brousseau to help oversee and direct its growth.

Mortgage lenders are operating in a refinance-dominated market again for the first time in years, but it may offer diminishing returns.