Originations

While listings are ticking up, house hunters are still struggling to find affordable properties. But thanks to high mortgage rates, there aren't enough buyers in the market to create the level of competition that would drive prices up more significantly.

The company will fund the discount across the first two years through a special escrow account.

The firm's Buy Before You Sell product for lenders has tapped over $655 million in homeowner equity in the past 18 months.

New-home sales in the U.S. bounced back to the highest level since May 2023 as buyers took advantage of lower mortgage rates and more listings to choose from.

Mortgage fintech Maxwell suggests lenders position themselves closer to consumers as the post-commission changes landscape evolves.

The 30-year fixed rate mortgage is lingering just shy of 6.5% level, which is not low enough to bring home purchasers back into the market, observers said.

"Despite the modest gain, home sales are still sluggish," said NAR Chief Economist Lawrence Yun in a prepared statement. "But consumers are definitely seeing more choices, and affordability is improving due to lower interest rates."

The Federal Housing Administration's renovation program parameters hadn't been updated in a decade, faling behind similar products from other providers. The Nov. 4 changes will bring it up to speed.

Industry economists are now confident about predictions for mortgage rate movements through the end of next year; the question is if that translates to increased home sales.

Purchase applications last week fell to their lowest level since February, the Mortgage Bankers Association reported.