Refinance

Millennial homeowners took advantage of April's drop in mortgage rates by quickly securing refinance loans, which closed faster than purchases for the first time since March 2016, according to Ellie Mae.

Refinance mortgage application activity surged as interest rates fell to their lowest level since the start of 2018, but potential homebuyers remained sidelined due to economic uncertainty, according to the Mortgage Bankers Association.

The most borrowers in three years currently qualify for refinancing as the average for the 30-year fixed-rate mortgage dropped below 4% for the first time in over a year, according to Black Knight.

Mortgage company merger and acquisition activity should continue to increase in 2019 as loan production costs rise and originations stay flat.

Mortgage application fraud risk declined for the first time since last summer because the home sales market became less competitive with an easing of the inventory shortage, First American said.

Mortgage prepayment speeds may rise with the strong U.S. rate rally, and that may be cause for alarm for mortgage investors.

Consumer worries over the direction of the U.S. economy affected mortgage application activity this past week even as interest rates remained flat or declined, according to the Mortgage Bankers Association.

The decline in average mortgage rates since the start of the year is driving higher purchase demand, especially at the higher end of the market, according to Freddie Mac.

With mortgage rates falling to their lowest level in over a year, refinance volume drove this week's increase in application activity, according to the Mortgage Bankers Association.

Prepayments tied to repeated VA loan refinancing activity have had an adverse effect on Ginnie’s mortgage securities that persists despite countermeasures. The government bond issuer is making new plans to address the impact.