Originations

The good news in the Consumer Price Index report has not carried over to the 10-year Treasury yield and thus mortgage rates, Freddie Mac found.

Refinance activity was up 16% from the end of February while purchase applications rose mildly, on the strength of fading rates amid larger economic woes.

For the first time in almost two years, mortgage products available for consumers are at a level established in 2012.

Interest-only loans, popular pre-2008, have revamped requirements and can be an option for borrowers looking for short-term lower payments, stakeholders say.

The potential impacts of import tariffs cloud the outlook, though, and could lead mortgage rates to surge and fall throughout the coming year.

Meanwhile, home prices are set to grow 3 to 4% in 2025, a Fitch report predicts.

The consortium of businesses intends to work with state regulators to protect consumers as interest from secondary market investors also grows.

The latest refinance surge helped lift total application activity up for a second straight week, even as purchases fell, the Mortgage Bankers Association said.

The 30-year fixed rate mortgage continues to slip away from the 7% mark, Freddie Mac said, but experts still expect them to stay higher for longer.

On an annual basis, home prices grew by 4.2% in November, FHFA's index found.