Originations

Total U.S. jobs came in below consensus estimates in December, according to the Bureau of Labor Statistics.

Despite the rising number of COVID infections, investors made no moves that would apply downward pressure.

While some in the industry support the change, mortgage broker trade group AIME called on the agency to reconsider it.

Refinances also decreased, with rising rates contributing to the slowdown.

Originations of home equity conversion mortgages surged nationwide at the end of the year, with December numbers near a 4-year high.

For the past five months, single-family house prices were up by at least 18% compared to monthly averages in 2020, but by next November, increases should sink below 3%, CoreLogic said.

But low mortgage rates and higher wages are allowing borrowers to meet conforming loan underwriting terms — at least for now.

The 30-year average climbed six basis points after falling to a monthly low a week earlier.

When finalized, the sections to the Single Family Housing Policy Handbook 4000.1 will replace some 150 Mortgage Letters issued over the years.

About 40% of likely purchasers are delaying or cancelling their activity, a Redfin survey found.