Originations

But refinances saw an upturn and pushed overall loan activity higher in the first week of 2023, the Mortgage Bankers Association said.

Among current investors in the market, 7% are between 18 and 29 years old, while 15% of those looking to make their first purchases also belong to the same age group, according to a new study.

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.

The demographic of buyers between ages 25 to 41 also topped demand for repeat home purchases, a metric different from second-home and investor acquisitions.

House hunting activity also slowed in December, with home tours declining 69% from the start of the year, a Redfin report found.

NexBank will provide a line of credit of $200 million, $68 million lower than what it supplied in 2022.

The 30-year fixed rate surged 15 basis points from a week earlier but ends 2022 at more than twice its mark from a year ago.

The laws will go on the books later next year as part of an effort to provide builders with new tools to deal with the California's lack of land for new residential construction.

Special purpose credit programs, down payment assistance and potential mortgage insurance premium cuts came into focus over the past year.

Sales of high-end homes fell 38.1% year-over-year, per a Redfin report.

Kindred Home Loans will serve buyers of properties in Dallas and San Antonio markets.