Originations

Declining mortgage rates and home prices drove more positive views compared to the prior month, but December's overall outlook remained negative, Fannie Mae said.

In a Jan. 1 reshuffling the mortgage giant also promoted its former wholesale chief to chief revenue officer of Rocket Mortgage.

The sector is not immune to the same economic instability that affects the single-family residential market, the Mortgage Bankers Association said.

However, trackers from Optimal Blue and Zillow found that rates moved in line with the drop in the 10-year Treasury yield.

The change allows for more accessible financing options for a greater number of listings, but not all of those potential buyers qualify for conforming mortgages, Zillow said.

Difficult economic conditions will persist, with inflation and a potential recession weighing on minds, but investment in mortgage technology remains a priority, according to new survey research.

Higher interest rates helped drive down refinances by 87% and purchases by 42% compared to last year.

In October, the company acquired Roscoe State Bank in Texas, which means employees are now working for a depository and therefore exempt under the SAFE Act.

Increases in values were more likely to stick across the Central U.S, while pandemic boomtowns experienced the biggest declines in median housing costs, according to Realtor.com.

Prices were up by less than 9% year-over-year, according to CoreLogic's report.