Originations

Despite the surge of inventory, the number of available homes is still below pre-pandemic levels, while price movements show wide regional variations, ICE Mortgage Technology said.

Yields on the benchmark 10-year Treasury also rose in the past week as bond and note auctions got tepid responses from investors.

Companies are seeing evidence of income falsification, which previous research shows is the most common type of fraud or defect risk.

Fannie Mae economists suggest home sales will remain resilient amid anticipated dips in both home loan volume and consumer spending.

BofA is betting the Federal Reserve will make only one cut to the federal funds rate by the end of this year. MBA says originators are in for a $1.6 to $1.8 trillion year.

Compared to a year ago, investors bought a greater number of properties and made up a larger share of overall purchases, returning to the market faster than individual buyers, according to Redfin.

Rocket Mortgage entered into an agreement with the Department of Housing and Urban Development and will pay the consumers $65,000 to resolve the matter.

The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.

Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.

The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.