Originations

DeLory joined Equity Prime Mortgage from Carrington and helped to transition the Atlanta-based mortgage lender into a wholesale-only originator.

Freddie Mac reported a 2 basis point drop in mortgage rates, but other timelier measurements had the 30-year fixed close to or above the 7% mark.

Approximately 9% of current homeowners experience a labor market event that results in a negative credit shock, limiting access to their equity, Point said.

With prices possibly rising over 4% through next year, respondents to a Fall 2024 survey said they would turn to their investment portfolios to fund the down and monthly payments.

US mortgage rates fell to the lowest level since October, spurred by a rally in government bonds in the wake of an escalating trade war and driving home purchase applications to a more than one-year high.

Wholesale firm Ardri's acquisition of The Lending Spot comes after the company installed a mortgage industry veteran as its new president earlier this year.

Refinancings, particularly the cash-out version, helped to drive mortgage product availability and rate lock activity during March, separate reports found.

If mortgage rates drop into the low 6% range, there will be a retention opportunity on 5.4 million loans that have interest rates starting at 6.5%.

Even with 4,000 public sector cuts, total employment numbers were surprisingly high, which raises questions about whether financing costs will keep falling.

Lumber retains protections for now, but construction stocks still fell, and while the initial market reaction lowered rates, there could later be a reversal.