Originations

The 30-year fixed mortgage rate rose for the first time in six weeks, driven by Friday's strong jobs report and renewed uncertainty around tariffs.

Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.

Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.

Refinance apps made up more than 40% of all mortgage applications last week, driving an uptick as consumers seek out cheaper mortgage payments.

Although credit bureaus have collected this data for three years, it's only now being factored into assessments of consumer creditworthiness.

Bond investors are on alert for hints on when the Federal Reserve will deliver the two 2025 interest-rate cuts officials projected at their latest policy meeting.

Secondary market interest in home equity contracts is drawing new participants, with 2025 securitization activity ahead of last year, industry leaders said.

While lenders have come out with more products for the spring season, rate lock data finds buyers still hesitant to act because of high mortgage rates.

Even with the four basis-point drop, the 30-year fixed rate mortgage remained at levels last seen in February as the Spring homebuying season reaches its climax.

The product, as well as the housing market, is different today than what it was two decades ago, where some feel it was a cause of the financial crisis.

However, with the market continuing to shift more in favor of homebuyers, home prices should move lower, aiding affordability in the weeks ahead.

This potential transaction would be part of a broader trend of mortgage lenders and servicing players converging, such as Rocket's recent acquisition of Mr. Cooper.

Increases in gross domestic product and home sales expectations compared with April are the drivers of Fannie Mae's latest mortgage outlook for 2025 and 2026.

A growing supply of unsold inventory applied downward pressure on prices, offering home buyers some relief, the Mortgage Bankers Association said.

The average 30-year fixed-rate mortgage rose slightly to 6.86% last week, as economic volatility calmed following the Federal Reserve's recent inaction.

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.