Originations

Pricing on the 30-year fixed rate mortgage retreated this week as investors digested some economic news, including a GDP contraction in the first quarter.

The lender's parent also said it is actively in preparation to move forward on plans to unlock equity value in 2025, with a Newrez spinoff among its options.

While the 30-year rate landed near its level of a week ago, it ended up there only after political developments led to up-and-down swings in Treasurys.

The 30-year fixed rate mortgage average rose 21 basis points this week, lagging other indicators, which are all now lower than seven days ago.

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.

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%.

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.

The global asset manager wanted access to the smaller company's residential mortgage credit strategies, which will become available to a larger investor base.

Rising pessimism about how the Trump Administration is handling the economy in its early days is spreading into the housing market, a Clever RE survey found.

Government-backed lending drove an increase in purchase mortgages for a second straight week, even as interest rates failed to drive refinance activity.