Originations

Despite lower interest rates, both purchases and refinances declined after recent surges, while average loan amounts have gradually crept up to start the year.

The latest quarterly numbers from TransUnion show both closed end products and HELOCs rose over the course of the past year as mortgage originations fell.

Although housing values have noticeably flattened in recent months, the share of buyers expecting the search for a new residence to become harder grew, according to the National Association of Home Builders.

Prices also fell roughly 0.3% in November from a month before, according to a seasonally adjusted data of national prices from S&P CoreLogic Case-Shiller.

The company spent the last two months cutting sales, marketing and payroll expenses but couldn't achieve a breakeven point, its CEO said.

This move comes at a time when the largest HECM producer sold its operations to a rival and another filed for bankruptcy.

The National Association of Realtors index of contract signings to purchase previously owned homes increased 2.5% in December to 76.9, according to a release Friday.

Despite the significant annual increase, home buyers saw signs of affordability returning in the latter months of the year.

But several recent news developments are creating the perception that the risk of a recession is on the wane and that could end the downward pressure on rates.

Approximately 20 million U.S. residents – the majority of which were Gen Zers – took out their first debt product between the start of 2019 and mid-2022, a TransUnion study found.