Refinance

Mortgage applications increased 3.9% from one week earlier as another week of record low rates drew more borrowers into the market, according to the Mortgage Bankers Association.

As mortgage rates stayed below 3% in the third quarter, originations spiked to the highest quarterly total since 2007 and highest dollar volume since 2005, according to Attom Data Solutions.

Mortgage applications slipped 0.3% from one week earlier, as refinance volume, particularly for Federal Housing Administration and Veterans Affairs loans, shrank significantly, according to the Mortgage Bankers Association.

The third quarter’s higher share of purchase applications, which followed the refinance wave that crested in the second, caused a rise in mortgage application fraud risk, according to CoreLogic.

Rick Thornberry discusses the company's third-quarter results and the decision to drop traditional appraisals.

Mortgage applications decreased 0.5% from one week earlier as inadequate housing supply is putting upward pressure on home prices and affecting purchase activity, according to the Mortgage Bankers Association.

FHA volumes, a key contributor to Ginnie Mae issuance, could fall as long as the refinancing boom continues — unless the FHA takes a step that could reverse that trend.

With the 10-year Treasury yield getting a boost due to Pfizer’s COVID-19 vaccine news this week, KBW predicts insurers and title underwriters will fare best as recovery continues.

Problems with self-service tools and inconsistent communication have damaged consumer perception of their lender, J.D. Power said.

The company, which earned $535 million in net income in 3Q20, has been prioritizing purchase volume and managing costs to account for a possible decline in originations next year.