Originations

Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.

New-home loan activity rose 1% in August year over year, but applications fell 6% from July.

Falling interest rates led to a rush in refinancing, but slowing purchase activity brought a decline in overall lock volumes, according to Optimal Blue.

While August's views on buying conditions and rates increased over July, the other components in Fannie Mae's sentiment index all declined, driving it lower.

Black homeownership fell to 43.9% this summer, its lowest since 2021, as rising unemployment and federal layoffs widened housing gaps across demographics.

The 30-year conforming fixed rate mortgage ended this week at its lowest since last Oct. 17, helped by bond traders pricing in a reduction in short-term rates.

As Washington weighs a national housing emergency, U.S. homeownership has slipped year-over-year, according to Redfin.

A pickup in refinances was offset by the first pullback in purchases in four weeks in the run-up to Labor Day, according to the Mortgage Bankers Association.

The increase in purchase volume was not enough to offset the drop in refinance application submissions as conventional rates increased week-over-week.

The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.