Originations

The 30-year average passed the 4.5% mark for the first time since January 2019 as the labor market tightened and prices rose.

Down payment assistance programs allow lenders to take concrete action to promote the Mortgage Bankers Association's "Home for All" initiative. Chrane details the issues to navigate in using them.

While the intensely competitive market has deterred some from looking for a place to move to, rising valuations allow for more funds to be accessed to pay for repairs.

But the sluggish pace of refinances brought down overall application numbers last week.

Consumers should be sharing in the benefits from this fiscal year’s expected earnings of $8.8 billion, said the CHLA's Scott Olson.

Nationally, prices jumped 19.2%, the fourth-biggest jump in data going back 35 years.

A majority of housing experts also believe first-time homeownership should hit 2019 levels again within four years; however, a substantial number don’t expect it this decade.

An analysis of Home Mortgage Disclosure Act data reveals that banks continue to trail nonbanks in volume and another reveals that despite some improvement, inequities in lending to minority groups persist.

As the effects of the pandemic continue to reshape the rhythms of the industry, mortgage lenders and brokers others predict a busy, competitive landscape but say more non-QM loans will fill volume gaps caused by low supply.

More properties on the market are also selling quicker, with almost 60% now receiving accepted offers within two weeks.