Originations

Mortgage rates fell this week to another record low, and are now over a full percentage point below where they were five years ago, according to Freddie Mac.

But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.

Mortgage applications decreased 0.6% from one week earlier, although a slight drop in purchase volume belied the fact that consumers are taking advantage of the current rate environment, according to the Mortgage Bankers Association.

Just a week after commenting that the bottom on mortgage rates was possibly reached, Freddie Mac reported that they fell 6 basis points to another record low.

Mortgage applications decreased 0.7% from one week earlier, but lending activity should continue strong for the remainder of the year as rates stay low, according to the Mortgage Bankers Association.

The recent decrease in the rate at which current loans became impaired could further encourage the cautious return of the non-QM market currently underway.

Mortgage rates remained flat this week, a sign that the bottom has possibly been reached, but the housing market looks to remain strong for the near future, according to Freddie Mac.

Mortgage rates fell back toward their all-time low this week, increasing purchasing power for homebuyers. But the lack of homes for sale drives up prices and reduces affordability, according to Freddie Mac.

Mortgage applications decreased 4.8% from one week earlier, as refinance activity was down even as average rates fell to a new record low, according to the Mortgage Bankers Association.

The net share of mortgages in Ginnie Mae securitizations with suspended payments appears to be stabilizing, but the number of new requests creates doubt about whether it will subside.