Refinance

Mortgage application activity increased 30.2% from one week earlier as purchases were at their highest level in over a decade along with substantial growth in refinancings, according to the Mortgage Bankers Association.

There was less credit available for the first time in four months in December, when lenders offered fewer conventional and government products, particularly Veterans Affairs-guaranteed loans, the Mortgage Bankers Association said.

While the refinancing boom took a step back, millennials purchasing power grows in the low mortgage rate environment, according to Ellie Mae.

Mortgage applications decreased 1.5% on a seasonally adjusted basis from two weeks earlier amid the annual end-of-year slowdown despite lower rates from global tensions, according to the Mortgage Bankers Association.

The nomination deadline for the 2020 Top Producers program is coming up soon.

November's foreclosure starts hit their lowest level since Black Knight started tracking this data in 2000, while the foreclosure rate reached a 14-year low.

The drop in home buying power heightened the risk of misrepresentations on purchase mortgage loan applications during November, as consumers are more willing to fudge information in an uncertain market, First American Financial said.

Mortgage applications decreased 5.3% on a seasonally adjusted basis from one week earlier led by a decline in conventional refinance loan demand, according to the Mortgage Bankers Association.

Freddie Mac reduced its origination forecast for 2020 to under $2 trillion, now projecting $184 billion less in refinance volume compared with its November outlook.

First mortgage volumes continue to rise at credit unions, but home equity lines of credit have fallen dramatically in recent years.