Originations

US mortgage rates jumped last week by the most since October on the back of heightened volatility in the Treasury market, causing a pullback in financing applications for home purchases and refinancing.

The potential impact of agentic AI on the mortgage industry's future lies in its ability to give human employees "superpowers," technology leaders say.

A majority expressed optimism of getting listing price or more, but a new survey also found the lock-in effect still weighing on the minds of potential sellers.

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.

While prices are still rising, an increase in reductions from listing suggests sellers are adjusting to the new reality for home buying this season.

Homebuyers would be able to take advantage of streamlined finance options, folding energy infrastructure costs with their mortgages, the companies said.

United Wholesale Mortgage led its industry peers in total origination volume, though Rocket Mortgage and Crosscountry weren't that far behind.

Private lenders are looking for ways to expand their reach as their traditional market has become crowded, and nonconforming mortgage lending is an answer.

Mortgage rates remain in the 6.6% range, with the tariff news so far having little impact, but could change given the 35 basis point drop in the 10-year yield.

Regulators should approve the deal because post-merger, the servicing market remains fragmented and the mortgage origination business is even more dispersed.

Publicly traded lenders, including UWM, Rocket Mortgage and Guild Mortgage, saw personnel expenses increase significantly throughout last year.