Originations

Activity swung upward for the fourth week in a row, but a steeper drop in refinances led overall volumes down by a fraction from seven days earlier and 66% on an annual basis.

The homeownership gap between Black and white populations has widened in the years since the Great Recession, putting obstacles in the way of achieving wealth for a large percentage of Americans. How did we get here, and what do the housing and home lending industries need to do to change the current course?

The increased limit on the size of the mortgages the government-sponsored enterprises will be able to buy reflects the year-over-year change in home prices.

The increases set to go into effect in February help some offset breaks for first-time buyers but also limit options for existing borrowers.

However, a tiered pricing system will limit an inflation-driven increase to under 10% for a small group of originators.

Prospective borrowers are still looking at inland hotspots but coastal cities will make a comeback in the next 12 to 24 months with favorable acquisition costs and inventory, according to Guaranteed Rate's top-ranked loan officer.

Living next to an ALDI's, Trader Joes or Whole Foods increases home price appreciation, according to an Attom report.

But the rapid drop could be enhancing the volatility that is keeping buyers out of the market, Freddie Mac said.

Another fall in interest rates spurred a gain in activity, but volumes are still almost 70% off levels from 12 months ago, the Mortgage Bankers Association said.

Nonbanks will probably see the least change, while securitization lenders, depositories and REITs are likely to experience the most, an Urban Land Institute survey suggests.

The national median payment grew to $2,012 last month from $1,941 in September, the Mortgage Bankers Association found.

Loan officers, processors and closers were impacted, a source said. What remains is a "skeleton crew" to run operations.

Rising mortgage rates also led to the highest level of listing price reductions as well as the largest annual drop in pending home sales, Redfin found.

The change, effective Dec. 21, is being put into place two years after it was first proposed.

However, the downturn will be brief and housing will lead the way out, the government-sponsored enterprise concluded.

While mass firings abound, the employment situation is not moribund for those with certain skills sets in demand.

The $225 million deal has its roots in the creation of the mortgage technology company that currently owns the property information business.

A trade group expert called this "sobering news," given that the third quarter is generally the strongest of the year for the industry.

A Fannie Mae survey says 36% get only one quote, while a separate Zillow study found 72% don't plan to look for options.