Originations

Mortgage applications rose for the second straight week as key interest rates fell back toward 5%, according to the Mortgage Bankers Association.

Consolidation is coming in the mortgage industry, but a protracted timetable will continue to constrict industry profits.

Social Finance, the lending and refinancing startup valued at more than $4 billion, is cutting about 7% of its staff, according to a person familiar with the matter.

Hometown Lenders Inc. will acquire TotalChoice Mortgage in a move to expand its geographic footprint and meet its goal of growing annual originations from $1 billion to $5 billion.

Mortgage industry hiring and new job appointments for the week ending Nov. 30.

Third-quarter profitability fell to 2008 levels in the Mortgage Bankers Association's latest report, suggesting the seasonally slower fourth quarter could be particularly challenging this year.

Mortgage rates held steady this week, remaining near their lowest levels in more than a month, according to Freddie Mac.

The rush in holiday shopping also boosted the housing market as mortgage applications increased 5.5% from one week earlier, according to the Mortgage Bankers Association.

The sustained rise in home values will boost Fannie Mae and Freddie Mac's loan limits for 2019, marking the second consecutive year in which it increased by nearly 7%.

Mortgage application activity decreased 0.1% from one week earlier as refinance volume tanked, although interest rates fell, according to the Mortgage Bankers Association.