Originations

With new construction activity at the highest level in more than a year, the Federal Reserve Bank of Atlanta's GDPNow tracker is projecting residential investment added 0.1% to growth in gross domestic product in the second quarter.

Two years after the Florida building collapse that prompted them, tighter "temporary" requirements may be doing more to ensure the structural integrity of buildings but they also intensify financial challenges.

The markets had a muted reaction to the Federal Open Market Committee pause on raising short-term rates a week ago, Freddie Mac found.

Contract closings edged up 0.2% to a 4.3 million annualized pace, according to data released Thursday by the National Association of Realtors.

But the Mortgage Bankers Association also raised the dollar volume that it predicts the purchase market will originate this year.

Both loan volumes and interest rates came in mostly flat, but the jumbo average ran ahead of the conforming for the second week in a row, the Mortgage Bankers Association said.

Prospective borrowers are flocking to newly built properties as current homeowners shy away from listings due to high mortgage rates.

Alimited supply of existing homes continued to spark interest in new construction, the National Association of Home Builders found.

Decision-making algorithms powered by machine learning are seen as the next frontier for a more nuanced approach to mortgage decisions but skeptics worry this will just be a new way to discriminate.

While home sales should remain constrained this year because of higher rates, growth in the entry-level market has far outpaced that for above-median income families.

Approximately 32% of those surveyed by Everee said they plan to leave the business in the next 12 months, with another 17% saying they didn't know if they would stay.

The findings from Standard & Poor's show little impact from the Federal Housing Finance Agency's proposal regarding what information is required to underwrite a conforming mortgage.

The number of new listings coming to market in recent weeks fell by over 23% annually, with Western cities seeing the largest rates of decrease, according to Redfin.

But the full year rate for 2022 increased as a record high for adverse findings was set in the third quarter, Aces Quality Management said.

The average for the 30-year fixed slipped 2 basis points in anticipation of the Federal Open Market Committee pausing short-term rate hikes, said Sam Khater, chief economist.

Monetary policy officials have finally gone a month without tightening but made it clear more action could lie ahead, suggesting it could be awhile before housing finance costs consistently fall.

The uptick occurred as conforming rates pulled back for the second week in a row, coming in below the jumbo average according to the Mortgage Bankers Association.

Now is the time to recruit this diverse, technology-focused demographic into the home lending business, industry leaders say.

If a lender can address language barriers, the loans can be simple to originate and are likely to deliver higher yields as well as ultra-low delinquency rates, experts said.

While paying off existing loans is their most immediate priority, buying a house is the No. 1 aim within five-to-10 years, a FinLocker survey found.