Originations

Contract closings decreased 2.5% from a month earlier to a 3.86 million annualized rate, according to figures released Thursday from the National Association of Realtors.

OceanFirst's own press release points out the federal government has obtained $120 million in relief in similar cases since 2021.

Short-term rate cuts often don't immediately translate to lower financing costs for 30-year home loans, and there are some unique circumstances this time.

The industry leader is the third wholesale competitor to allow larger mortgages months ahead of the government's official announcement.

Fannie Mae's economists are pessimistic about the future for existing home sales, reducing its purchase volume outlook in both 2024 and 2025.

U.S. housing starts bounced back in August after tumbling a month earlier, illustrating uneven residential construction as builders weigh inventory levels against brighter demand prospects tied to falling borrowing costs.

Refinance activity is up 127% year-over-year as interest rates dipped closer to 6%.

A blog post from the Consumer Financial Protection Bureau cited data from the pandemic refi boom to show Blacks and Hispanics had limited opportunity to drop their interest rate.

Confidence among U.S. home builders rose in September for the first time in six months, just before the Federal Reserve is expected to cut interest rates from the current two-decade high.

The government will also begin allowing mortgage default insurance on homes worth up to C$1.5 million ($1.1 million), an increase from the current cap of C$1 million.

The new threshold comes months ahead of the Federal Housing Finance Agency's formal announcement.

The top five lenders averaged more than $20 billion in mortgage originations through May.

The lynchpin to this is what Rocket management calls its "Super Stack" artificial intelligence technology.

The lender claims it's been the first player in the industry to raise the threshold for three years in a row.

While large institutions might rank low in customer satisfaction, the institutions that can build up client trust are also likely to see consumers more likely to share personal data, a leading analyst said.

The 30-year fixed rate mortgage fell week-to-week by the largest amount since the start of August and are now almost a percentage point lower than a year ago, according to Freddie Mac.

Home lending professionals shared their thoughts on vendors, artificial intelligence and the most valuable solutions technology could give them in a new Arizent survey.

The latest inflation news is almost sure to result in a 25 basis point cut next week, but some are still hoping for 50 basis points, as well as reductions totaling almost 200 basis points through the end of 2025, Wolters Kluwer found.

Loan applications increased for the third week in a row, as borrowers responded to recent falling rates, the Mortgage Bankers Association said.

Federal Reserve Vice Chair Michael Barr's planned revision of the capital proposal addresses a key concern the housing finance industry has.