Refinance

The latest round of earnings reports from home lending businesses and vendors continue the positive vibe for the sector as most reported year-over-year improvement in profitability.

The unexpected rise in refinancings during the third quarter affected mortgage industry business results in a mostly positive fashion for the period.

Interest rate swings during this past week resulted in a decline in both refinance and purchase mortgage applications compared with the previous period, according to the Mortgage Bankers Association.

Single-family mortgage production this year is expected to be 3% higher than anticipated last month, according to Fannie Mae, which revised its estimates based partly on a stronger housing outlook.

Mortgage applications increased 0.5% from one week earlier, although interest rate instability affected consumers' ability to get the best price for their loan, according to the Mortgage Bankers Association.

Home values posted the largest month-over-month spike in over five years due to continued buyer demand, according to Quicken Loans.

Mortgage applications jumped 5.2% from one week earlier as a drop in rates caused another surge in refinances, according to the Mortgage Bankers Association.

While home affordability reached a 32-month high in September, it could continue to increase in the fall months, according to Black Knight's Mortgage Monitor.

Bankers in St. Louis weren't surprised when mortgage data released this summer showed a drop in loans made between 2017 and 2018.

NewDay USA, a lender specializing in loans to veterans and military service members, is addressing rate-driven increases in refinancing by hiring more than 100 workers who are new to the business.