Originations

The need to size up the impact of hurricanes and pollution is increasing and current measures aren’t as precise as credit or rate models, according to the Research Institute for Housing America.

However, the pullback in mortgage-backed securities purchases will be one of the factors in rates rising in the medium term.

Foreign investment helped offset a slowing domestic recovery, causing few ripples for the week, but economists expect future taper of bond purchases to lead to upward movement.

Purchases jumped to a high not seen since April, while refinances were also up due to the increased use of government programs.

Contract closings decreased 2% from the prior month to an annualized 5.88 million, in line with economists’ estimates, figures from the National Association of Realtors showed Wednesday.

The difference between purchase contract prices and valuations was consistently wider than in white neighborhoods, according to a recent analysis of 12 million appraisals from the Uniform Collateral Data Portal.

Applications were up 9% compared to July’s total, while the average price for newly built houses hit a record.

Enact's stock offering priced on Sept. 16 in its expected range, at $19 per share, and quickly moved up to over $21.

The government-sponsored enterprise also expects purchase and refinancing volumes to drop in 2022.

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