Originations

Refinances surged 18% compared to the prior week and purchases 3%, but growing loan amounts signal still-limited affordability.

Virginia and Montana both introduced new bills in the past month, potentially joining several other states in enacting policies that would increase business opportunities for lenders.

Adding pricing considerations tied to debt-to-income ratios, which frequently fluctuate, are destined to create problems with borrowers and internal operations, the Mortgage Bankers Association wrote.

The Fannie Mae Home Purchase Sentiment Index rose for the third straight month, but concerns about affordability still weigh heavily on the minds of many Americans.

A series of recent studies offer a view into the dynamics that will impact home sales in 2023.

More than half of borrowers paid 0.5 points or more to cut their interest rate for the life of the loan, while just 3% chose the short-term option, Black Knight said.

It's less expensive to rent in 45 of the nation's 50 largest metros, a ratio that has grown significantly since the end of 2021, according to Realtor.com.

In just the first few weeks of the year at least 10 transactions have taken place.

Servicing was strong relative to some analysts' estimates, but thin margins and higher-than-expected expenses in originations reduced earnings for the fiscal period.

Industry headwinds led numbers at the software and data provider downward at the end of the year, but company leaders said the unit is positioned well for a market snapback.

Since breaking above 7% in November, the 30-year fixed is now down nearly a full percentage point, Freddie Mac said.

The private mortgage insurer is purchasing Agents National and Boston National from Incenter, which itself is a unit of Finance of America.

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.