Originations

Average purchase-loan amounts shrank for the second week in a row and are currently 12% below their record size in March.

But second home sales — which were below pre-pandemic levels for the first time in 24 months during May — may slow in the future as those in vulnerable areas get tougher to insure.

Even with another annual surge of over 20%, the pace of home-price growth eased in May and experts anticipate even further moderation over the next year.

And in other consolidation news, HomeServices of America’s Pickford Escrow Co. picks up competitor Legendary Escrow Services.

The transaction adds 11 branches in Virginia, Florida, North Carolina and Texas to AnnieMac's nationwide 60-plus office network.

While those born between 1946 and 1964 have largely chosen to age in place, their eventual home downsizing or passing is not likely to result in a large burst of inventory entering the market, according to a report from the MBA's Research Institute for Housing America.

The 30-year average dropped for the first time in four weeks after surging more than 70 basis points earlier in the month.

Climate change is increasing the frequency of wildfires, hurricanes and severe winter storms; yet in areas most vulnerable to them, property value growth exceeds the national average, a new report finds.

Overall mortgage volumes flattened last week, but average loan amounts, particularly for purchases, are shrinking according to the Mortgage Bankers Association.

The partnership, which is expected to ease lending for bank statement loans, comes as the non-QM sector runs into headwinds.

The transaction formalizes the relationship started by a January investment in both companies by LLR Partners.

High mortgage rates and high prices are starting to slow down the market. Still, tight inventory is keeping values high.

The median prices for the most sought-after metro areas were on average $128,000 lower than in the city the buyer was leaving, Freddie Mac's study of Loan Product Advisor data found.

Also: UWM offers deep discounts, no fix in Congress for flood insurance program, home flipping profits decline

UpEquity reportedly saw its growth projections decimated by the cooling refinance market and terminated positions in anticipation of a tepid fundraising environment.

For the 10th consecutive week, the brokerage’s Demand Index declined, this time by the largest share in over two years.

The new product is an extension of its FraudGuard offering for the first lien mortgage market.

This latest campaign comes as application volume is down by 53% from a year ago, while mortgage rates are 2.59 percentage points higher since the start of 2022.

Plummeting returns add to indications that investors may become more selective in home purchases.

Recent remarks from Federal Reserve Chair Powell suggest more upward movement is ahead.