Refinance

Continued economic growth, a strong jobs market and higher wages will lead to a 7.3% increase in purchase origination volume next year, according to the Mortgage Bankers Association.

Mortgage lenders are urging the thousands of displaced homeowners to reach out to them in the aftermath of the devastating wildfires so fire victims can begin the process of either rebuilding or moving on, leaving behind the home they once had.

To protect veterans from predatory lending practices, Ginnie Mae and the Department of Veterans Affairs should remove lenders' financial incentive for originating Interest Rate Reduction Refinance Loans.

The percentage of refinance loans rose in September as interest rates dipped to a 2017 low, according to Ellie Mae.

Mortgage applications increased 3.6% from one week earlier even though rates remained mostly flat during the period, according to the Mortgage Bankers Association.

Fannie Mae used last year's Home Mortgage Disclosure Act data to increase its origination projections for both 2017 and 2018 even as its overall economic outlook remained unchanged from September.

Ginnie Mae and the Department of Veterans Affairs have described in more detail the VA loan refinancing practices they will crack down on to eliminate a long-running churning concern.

The share of mortgage refinance applications dropped below 50% for the first time since the start of September, as interest rates rose to a six-week high.

Nondepository mortgage bankers and brokers increased their headcounts in August, but hurricane recovery efforts and other macro factors may stymie additional growth.

A decline in refinancing applications offset the gain in purchase activity, leading to an overall drop in application activity of 0.4% from one week earlier.