Originations

The market's reaction to the Consumer Price Index report on Tuesday helped to push the 10-year Treasury and 30-year fixed-rate loan lower, Freddie Mac said.

Applications to purchase newly constructed properties increased for the ninth consecutive month on an annual basis, as the inventory shortage for existing homes continues.

For the second time in the past three J.D. Power polls, Rocket Mortgage has been dislodged from the top spot.

Relationships with brokers will be terminated on Dec. 6, but company officials stressed there would be no impact to its loan servicing or other mortgage channels.

Because the measure of the insurance fund's soundness remained well above its target, trade groups asked whether the cost of coverage could be further reduced.

Loan activity overall came in higher for the second week in a row, with interest rates flattened following an extended volatile period, the Mortgage Bankers Association said.

The agency is decreasing the dollar amount for the second consecutive year, maintaining the percentage quota for mission-related loans and adding a new exemption.

The lender has shed over $1 billion in annualized expenses and said it retains enough capital to sustain operations for the next several years.

The program helped more than 23,000 consumers establish credit scores in its first year through partnerships with three fintechs, all of which were chosen to renew their participation.

Higher expenses pushed per-loan losses further into the red for the first time in three quarters and with lower production expected through the first three months of next year, the picture remains bleak.

The decision removes any possibility that the Chicago-based firm would recapitalize or peddle Republic Mortgage Insurance to an outside entity.

While it can also be used to obtain mortgage and other product information, the app features teaming personal wellbeing content from Dr. Deepak Chopra.

Sun Belt cities saw the greatest annual decline in transactions over the third quarter, with Atlanta's number down to half of its level at the same time in 2022, Redfin said.

Broader economic factors, including growing household debt, are also likely to keep the housing market stagnant, Freddie Mac said.

Its strong balance sheet opens up opportunities for the mortgage lender to bring more companies under its helm, executives during the earnings call said.

The firm says the product can save companies in excess of 30% of their existing cost structure.

Earnings benefited from low delinquencies and slow prepayment speeds, but high rates will limit growth opportunities.

The company posted net income of under $301 million in the third quarter, including a $93 million positive mortgage servicing mark.

A significant fallback in rates brought some borrowers back to the table but cooled interest in adjustable-rate loans, which had surged throughout October, the Mortgage Bankers Association said.